- Positive results of the UAE economy diversification plan

Positive results of the UAE economy diversification plan

Positive results of the UAE economy diversification plan

The UAE is firmly on its course for economy diversification. The Government has managed to turn a young Arabic country into the most influential player of the whole MENA region.

In fact, the UAE keeps its economic growth momentum and makes a stable progress, which is vied for by neighbouring oil-producing countries. Large financial resources are further used for infrastructure development.

All these results were achieved in an adverse environment of a weakening economic growth, low oil prices and general instability of emerging market economies. It has become possible owing to the well thought-out policy of economic diversification and availability of the substantial financial reserves.

Today, the UAE is the important international business, trade and tourism centre. It also develops its transport infrastructure to improve the country’s accessibility. The vivid example is the development of the Etihad Rail project, which will bring a land transport system to a new level.

It is clearly seen that the UAE keeps pace with the latest innovative technologies. Effective studies are carried out in the fields of renewable energy and other sectors. In general, the Government is going to adopt the principles of a smart economy, which is designed to reduce both material and nonmaterial expenses to the minimum.

These changes stimulate the continuous development of the private sector. Hence, there is a stable increase in private sector’s contribution to GDP and economic diversity. Another positive result of the current policy is the creation of new jobs.

UAE - the model of the robust economy

All the above-mentioned facts in combination with the reports of numerous organizations and rating agencies prove the reliability of the UAE economy. As a result — stable growth in foreign and domestic investments.

The UAE Government continues its investments into the most important regional financial hubs such as Dubai International Financial Centre as well as Abu Dhabi Global Market.

Development of such most innovative and vital areas as security, healthcare, education, human resources, renewable energy and general economy diversification is the prerequisite of the UAE’s economic growth.

The UAE enjoys the so-called route of success. It means that all its achievements reinforce the country’s economy, and this reinforcement leads to further achievements.

Thus, the UAE serves as the model of a robust and steady economy.