Search DubaiPRNetwork.com

Home >> Banking & Investments

ICAEW: Dubai's business landscape holds promising future

Thursday, January 17, 2019/ Editor -  

Share

Home >> Banking & Investments

Accountancy and finance body ICAEW says recent developments and plans announced by Dubai’s government highlights the emirate’s promising trajectory towards cementing its influential position as a future-proof global business capital. The plans, which include a geo-economic map for the city, the first virtual commercial city in the region, free economic and creative zones in universities, and Dubai International Financial Center’s (DIFC) expansion plan, aim to accelerate the development of Dubai’s business landscape.

Dubai, UAE, January 17, 2019:  Commenting on recent plans and pledges announced by HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, Michael Armstrong FCA, ICAEW Regional Director for the Middle East, Africa and South Asia (MEASA) said: 

“The UAE economy has been adapting well to a prolonged decline in oil prices since 2014. As we said in our latest Economic Insight report, the non-oil sector – which represents almost 70% of the UAE’s economy – was the key growth driver for the country’s economy in 2018. Continued improvements in strengthening non-oil revenue, advancing to a competitive knowledge-based economy, instilling business confidence, and facilitating doing business will help achieve the UAE’s 2021 goals.

“Most important, Dubai’s approach to change is proactive rather than reactive. This will ensure it is fit and ready to compete in a digital world. Changes, driven by a range of factors, but most significantly technology, will transform all aspects of business and society in the coming years. Governments across the globe are heavily involved in digital transformation initiatives aimed at creating economies better suited to a world of rapid digitalisation. 

“Dubai is investing in innovative thinking, such as the planned transformation of public and private universities into free zones that allow students to carry out business and creative activities, and the establishment of the first virtual commercial city in the region. This makes it clear Dubai is embracing digital transformation. These measures, alongside the development of DIFC 2.0, a move that further supports growth for the regional financial services landscape, will definitely facilitate Dubai’s journey towards unparalleled achievement and success.”


Previous in Banking & Investments

Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

Cap on sulphur emissions to drive global demand for LNG as shipping fuel

Discovery Powers Mobile Malaria Research

American Aesthetic Medical Center on empowering spree to celebrate Emirati Women ...

GUESS – The Red and Black Trend

NYU Abu Dhabi researchers find warm ocean water, exacerbated by warmer air, is c ...

GEMS Education's GCSE students celebrate outstanding results

Robotics & Automation to transform Middle East's warehousing & inventory control ...

Ericsson announces changes to the Executive Team

Ikea 2020 Catalogue Launches With a Fresh Start

Epson announces its first 24-inch dye sublimation printer, the SureColor SC-F500

The Boot Edit

Comments of Dr Azad Moopen, Founder Chairman and Managing Director, Aster DM Hea ...

Shaza Hotels Expands Presence in UAE with the Opening of Al Badayer Oasis – A Sh ...

Al-Futtaim Engineering and Technologies signs up as strategic corporate partner ...

UAE Team Emirates Heads to Germany for Euroeyes Cyclassics Hamburg and Deutschla ...

Ma'an Rolls Out New Program to Get Abu Dhabi Community Involved in Making a Soci ...

GEMS Education student is the first UAE qualifier for trials to India's FIFA U17 ...

Red Hat Recognized as a Leader by Independent Research Firm in Infrastructure Au ...

Group Art Exhibition by 2XL Furniture & Home Décor to Bring Together 100 Artist ...

Biggest Japan buying of Italian bonds since 2014