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Private Sector Investments in UAE Could Lead to More Jobs in 2010

Abu Dhabi, UAE : 06 July 2010

The UAE Ministry of Economy has predicted a 9.1% growth in the volume of investments in the UAE this year, according to the Trade Arabia news service. This figure is up 3% on the 6% growth in investment attained in 2009, which was achieved with a 60% contribution from the private sector.

Abu Dhabi’s Emirates Palace played host to the Federations first “Forum of Economic Development Policies.” Amongst the conferences’ objectives was to highlight and integrate those economic policies which are now a top priority, enabling the UAE economy to progress to the “next stage of stage of growth, stability and development,” according to Al Al Shihhi was speaking on behalf of the Minister of Economy, Sultan Bin Saeed Al Mansouri.

Al Al Shihhi re-iterated his Departments’ commitment to executing the strategy of the Federal Government in relation to economic policies and cited the forum as a “positive start” for similar meetings to facilitate “dialogue” on economic policies with local government departments.

Al Shihhi also predicted a 3.2 per cent growth in GDP, fuelled by an adoption of sustainable industrial policies. He added that the “emphasis on economic diversification”  has led to an increase of 4.5% increase in the non-oil sector to 71 per cent of the GDP.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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