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WEF lauds Dubai’s big growth vision

Dubai has tackled the challenges of the global financial crisis without losing sight of the larger vision, the World Economic Forum, said on Monday.

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Prof. Klaus Schwab, founder and Executive Chairman of the World Economic Forum, or WEF, said as the global economic power shifts from West to East and from North to South, “Dubai is placed in an ideal situation”.

Applauding the growth vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, Schwab singled out Dubai for its focus on education for the young generation, and its amalgamation of various social spheres including government, civil society and business.

Addressing the opening plenary session of the WEF Summit on the Global Agenda, Schwab, who is also Co-Chair of the summit, said the world of tomorrow is not defined by services and industry but as ‘digitalised’ versus ‘non-digitalised’. “Dubai has the appropriate infrastructure for a ‘digitalised’ economy,” he said.

Sami Dhaen Al Qamzi, Director-General of the Department of Economic Development, said Dubai would continue to foster a sustainable growth-oriented environment and would promote openness, diversification, infrastructure development and sustained investment in human capital. “We are committed to improving efficiency, transparency, credibility and accountability,” he said.

As a regional and international hub for trade, retail, re-exports, aviation and financial services, Dubai plays an increasing role in bridging the development gap and connecting people all over the world, said Al Qamzi.

“Through a transparent approach and with a long-term growth strategy, we have demonstrated our seriousness of purpose and our respect for the international business community. Dubai’s world-class infrastructure and focus on developing a knowledge-based economy are strong incentives for continued foreign direct investment,” he said.

issacjohn@khaleejtimes.com

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