05/07/2015 03:43 AST
Abdullah Al Saleh, Undersecretary for Foreign Trade at the Ministry of Economy, while commenting on the recently published State of the Economy report, said: “The economic outlook is positive and promising. Despite low oil prices and speculations regarding UAE economy’s ability to achieve growth, we now have a rigid and stable economy. This is the result of sound government policies, economic diversification and the development of other sectors.”
Abdullah Al Saleh revealed this during a Ramadan Majlis hosted by Sharjah Investment and Development Authority (Shurooq) at Al Jawaher Reception and Convention Centre in Sharjah.
Titled “Bringing Government and Private Sector together”, the Majlis was held in collaboration with Sharjah Chamber of Commerce and Industry (SCCI) and attended by high-ranking official from several government entities, investors representing the private sector and international trade missions and bodies.
Government officials at the Majlis included Abdullah Sultan Al Owais, Chairman of Sharjah Chamber of Commerce and Industry (SCCI) and Saud Salim Al Mazrouei, Director of Sharjah Airport Free Zone Authority and Hamriyah Free Zone Authority.
It was also attended by Theyab Farhan Al-Rashidi, Kuwait’s Consul General and Walter de Blais’s, Swiss Consulate in Dubai, in addition to members of the Sharjah Municipality and Sharjah Chamber, representatives from the private sector and a number of (Shurooq) officials, headed by Ahmad Obaid Al Qaseer, COO of (Shurooq).
During the Majlis, which was moderated by Hussain Al Mahmoudi, Director General of Sharjah Chamber of Commerce and Industry, panelists highlighted the UAE government’s leading role in supporting the private sector’s development; by putting in place the necessary legislative frameworks and facilities to enable it to achieve growth.
Panelists also praised initiatives launched by different government bodies to increase UAE’s competitiveness, thus enabling it to compete on the global scale. These initiatives have resulted in the introduction of new products and services, an increased focus on enhancing expertise and the creation of a knowledge-based economy, which is able to evolve and compete.
Abdullah Sultan Al Owais, Chairman of Sharjah Chamber of Commerce and Industry, said that the Chamber has used other channels to develop the investment process in the emirate of Sharjah. As a result, the Sharjah International Commercial Arbitration Centre and the Sharjah Exports Development Centre were launched, both of which support the development of business sector in the emirate.
“The chamber has also developed programs and computerised systems for the purposes of delivering economic data that identify the strengths and weaknesses in the investment sector to make the appropriate decision”, Al Owais said.
Al Saleh stressed that the government gives a high priority to Public-Private Partnerships (PPP) and said: “His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, urged all ministries to consult with private sector prior to issuing any regulations, in order to avoid negative outcomes, and take into account their suggestions and feedback”.
The Gulf Today
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