DUBAI: The economy of Dubai has continued to grow at a fast pace in 2017, guided by a leadership that has its eye on the future and a government committed to the emirate’s sustainable development and global leadership, said Sami Al Qamzi, Director-General of Dubai Economy.
“The growth is expected to continue unabated in the next two years supported by rising domestic demand and a cyclical recovery in the global economy and in spite of economies elsewhere in the region slowing down to adjust to oil price fluctuations,” added Al Qamzi.
Dubai Economy’s report added, “Global trade is also anticipating a recovery to 3.6 per cent growth in 2017 as against 1.3 per cent during the previous year. The policy of openness adopted by the UAE across trade and economic activity in general is bringing goods manufacturers and service providers to Dubai, enhancing and diversifying exports from the emirate and further integrating the emirate into global value chains.”
“Dubai’s prominence as regional and global hub also grew in 2017 as total trade [direct and free zones] reached Dh985 billion during the first nine months, a 3.5 per cent growth over the same period of 2016.
