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18 July 2024

Maktoum bin Mohammed: Dubai’s progressive economic policies support its sustainable development journey

By E247

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE, today met with Douglas L. Peterson, President and Chief Executive Officer of S&P Global, at the Dubai International Financial Centre (DIFC). 

During the meeting, His Highness said that Dubai's flexible economic policies have enabled the emirate to keep pace with changes in the global environment and raise its performance across vital sectors. These policies continue to support Dubai’s sustainable development journey and its innovation-driven growth aspirations, he noted.

The meeting also discussed Dubai’s progressive financial policies developed in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which have enhanced its stability and resilience, and its ability to rebound from the impact of global crises and accelerate its growth momentum. 

The meeting also discussed Dubai's efforts to promote innovation and attract talent from around the world. His Highness highlighted the new visionary growth path that the emirate has charted, which places high priority on productive partnerships with the global business community and initiatives to enhance its status as global commercial hub. Dubai aims to be a centre for futuristic industries and technologies and a pioneer in adopting game-changing advancements across industries. Dubai continues to develop its pro-growth, business-friendly regulatory framework to provide enterprises the ideal environment to innovate and thrive, he added.

The meeting was attended by His Excellency Abdulrahman  Al Saleh, Director General of Dubai's Department of Finance (DOF); His Excellency Helal  Al Marri, Director General of Dubai's Department of Economy and Tourism and His Excellency Essa Kazim, Governor of DIFC. 

One of the ‘Big Three’ credit rating agencies, S&P Global provides credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With over 70 offices in 35 countries, and over 45,000 customers in more than 150 countries, S&P Global provides governments, businesses and individuals with the data, expertise and connected technology needed to make decisions and plan for the future. The company reported global revenues of close to $12 billion for the 12 months ending March 31, 2023, a year-on-year increase of 37.85%. 

S&P opened its first office in the region in the Dubai International Financial Centre in 2008. The DIFC office serves as the company’s Middle East regional office.