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UAE Business Leaders Foresee Brighter 2010

Issac John
Filed on January 1, 2010

DUBAI - The dawn of 2010 has been greeted by business leaders across the UAE with eager anticipation of brighter prospects for recovery through 
the year.

Khaleej Times on Thursday spoke to a cross-section of business leaders in Trade & Retail, Banking & Finance, Services & Transport and Real Estate sectors and found that to most the New Year signalled a turnaround after a grim 2009.

They spoke about their expectations of 2010 and also their plans for a year that is widely anticipated to show signs of at least a slow-and-steady recovery.

Most of them felt that an excellent crisis leadership and proactive monetary and fiscal measures taken by the UAE helped its economy weather the fallout of the global financial tsunami more effectively than most.

Surging oil prices, contained inflation and effects of the stimulus package given by the UAE government have triggered the process of recovery, they said, but cautioned that 2010 would be a year when people should tread cautiously.

They expect a rebound for UAE markets as there could not be anything worse than the rollercoaster of 2009.

With prudent policy reforms currently being promulgated, decrees coming into force and radical changes being embraced by the government as well as the private sector, there is one thing they are sure about: 2010 is going to be brighter.

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