Main drivers of Dubai's growth

Dubai has already established itself as the business capital of the Middle East, and government-led initiatives as well as growth in the private sector will be the main drivers of growth for Dubai in the time leading up to the year 2020.

According to an audience poll conducted at Multaqa Jafza, the annual Jafza Business Associates Forum, an overwhelming majority of the attendees believe that Dubai has already established itself as the business capital of the Middle East.

On the topic of growth leading up to the year 2020, 53 per cent believe that government-led initiatives and 22 per cent feel that growth in the private sector will be the main drivers of overall growth in Dubai.

Almost half of the audience (48 per cent) polled also felt that the legal framework and regulations were the key areas requiring improvement, in order for Dubai to sustain itself as the business capital of the Middle East; while 24 per cent believe that infrastructure improvement is the key to Dubai maintaining its lead.

Multaqa Jafza is an annual Jafza event which brings together Jafza’s Business Associates, partners in development, commercial attaches and trade commissioners of Dubai’s key trade partners to discuss the respective roles and the ways and means of developing and sustaining Dubai’s business lead in the region.

“As one of the key drivers of the Dubai and UAE Economy, and an enabler of trade and commerce in the region, Jafza works closely with investment promotion agencies to not only bring foreign direct investment to the UAE, but also to carve out a strategy in line with the vision of Dubai, to make it the investment destination of choice,” said Salma Ali Saif bin Hareb, CEO of Economic Zones World and Jafza.

“The success of the public-private partnership has already become evident through the success achieved by Dubai thus far. We must now work towards enhancing this success and increasing the potential of further developing and maintaining Dubai’s position as not only the business capital of the middle east, but a key business destination in the world,” she added.

The panel discussion, which also took in the views from the general audience heard that there is increasing interest in Dubai from around the world, but particularly from the East, where China and India are the two major economies vying for the top trade partner slot with Dubai.

Going forward, China is also seen taking the lead in the number of tourists to Dubai.
 

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