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UAE: Fastest Growing Economy

October 2013, 15
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General Al Hamli, the council secretary of Dubai Economic Council, in a statement expressed, despite the frail economy growth of the world, the UAE witnessing a new growth leap as all the business levels are soaring up.
UAE Immigration
Reports by the local and international economic council accentuate the GDP growth rate of the economy in 2013 which range from 4-5%. Al Hamli further stated that continuous growth is not the exclusive demand or property of the energy sector but to the growth of non-oil sectors such as tourism, trade and logistics besides transportation, thanks to the diversification strategy the UAE government adopted years ago. Al Hamli made this statement during his meeting at the World Bank group and International Monetary Meetings that started in Washington DC, this week. Al Hamli is leading the delegation of the DEC secretariat general as part of the UAE federation.
According to Al Hamli, state investment is the main crucial engine of the economic growth and mega projects that both the federal and local governments launched recently to enhance the development programmes particularly in infrastructure and energy.
At the GCC level, he mentioned that UAE is referred or classified as the fastest growing economy in the world due to its property not only its natural resources and global energy but also being a hub of foreign. Al Hamli also shed light on the DEC’s perspective on the global economy outlook.
The assured recovery of the US economy particularly amid the news of the US determination to give up the quantitative easing policy soon. Also within this factor comes the recovery of euro zone from the consequences of sovereign debts.
Second, the dynamism of emerging markets especially China and their role in the stimulating the global economy. Third and last, the international solidarity in confronting the challenging facing the monetary and financial order.

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