'Private sector plays a key role in UAE's development march'

ABU DHABI — General Shaikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, said that the UAE has been able to make a giant stride forward in strengthening the role of the private sector in the country's comprehensive development process.

By A Staff Reporter

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Published: Tue 6 Jun 2006, 10:19 AM

Last updated: Sat 4 Apr 2015, 3:22 PM

"The private sector must seize the opportunity by adopting all practical methods to achieve progress and to take on the challenges within the framework of competing feverishly with others," he told a gathering of top businessmen at a ceremony to give away the seventh Shaikh Khalifa Excellence Award for year 2005.

He described the quality assurance programmes as "the cornerstone for achieving sustainable excellence in all our economic and social sectors. Shaikh Mohammed said the Shaikh Khalifa Excellence Award comes in response to challenges of today's' world in order to give a scientific approach to all the business installations in the country so that they follow the steps of the world's best installations in their areas of specialisation.

"This is also to enhance their competitiveness capability, improve their competence and lower operation and production cost to achieve the best financial and operational results," he added.

He said the UAE will never achieve sustainable development unless the country focuses on achieving excellence in its basic works. "And this is what the award is calling for — the development of human resources, the redesigning of our systems of work, easing of our procedures, making the best use of modern technology and finally, defining the accurate and effective indicators for assessing the general performance of the financial institutions and operating them efficiently," he stated.

He appreciated the companies for choosing excellence as their way.

"These companies and institutions are striving very hard to improve their competitiveness capability to boost the sustainable development that they so much cherish to achieve," Shaikh Mohammed said, adding that in order to get the march going on there is the need to boost communication and interaction between the public and the private sectors.

Shaikh Mohammed reiterated the need to adopt quality and excellence standards in both the private and the public sectors so that their collective efforts can lead to the best practices for the general interest and benefit of all.

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