Dubai on growth track over last 4 years: DEC

The Economic Development Committee of the Dubai Executive Council (DEC) reviewed the Dubai Economic Report 2013 on Wednesday during its regular meeting.

The meeting was chaired by Shaikh Ahmed bin Saeed Al Maktoum, Second Chairman of DEC and Chairman of the committee, in the presence of Abdulla Al Shaibani, Secretary-General of the DEC.

The report, which presented a panoramic view of major economic milestones in the emirate over the last year, along with the economic outlook, noted that Dubai’s economy has been on the growth track over the last consecutive four years amidst low inflation rates and a stable financial situation. The report reviewed features of both the micro and macro economy of Dubai, providing an insight for comparison between Dubai economy and economies of peer cities.

The report addresses performance in key sectors like real estate, energy, finance, banking, transport, foreign trade, free zones, industry, tourism, education, labour and social welfare.

The committee heard a presentation on development of the financial sector for promoting investment and sustainable growth which analyses enablers that will transform Dubai into a global trade and finance hub.

The report is in line with the Dubai Strategic Plan 2015, which aims to catapult Dubai into a new growth path by diversifying economic sectors and enhancing value added sectors.