UAE President Sets Clear Direction for Economic Acceleration, Business Leaders Say – News

Businessmen say they will do anything to support the country’s economic priorities



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Published: Sat 16 Jul 2022, 7:58 PM

Last update: Sat 16 Jul 2022, 10:36 PM

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has set out a clear direction to achieve economic acceleration, according to top UAE business leaders.

During Sheikh Mohamed bin Zayed’s maiden address to the nation last week, the President said: “Today, the economy of the United Arab Emirates is thriving and continues to grow at an impressive rate. We are blessed with many resources, especially our highly skilled human capital, as the UAE has a distinguished wealth of young workforce. In addition, more than 200 nationalities actively participate in the growth and development of our economy.

“The role of the private sector is critical, and it needs to be further activated through constant collaboration and various opportunities to increase its contribution to the growth of the economy,” Sheikh Mohamed said.

In response to his comments, top business leaders in the UAE said they would do everything in their power to support the country’s economic diversification priorities.

Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Global Markets (ADGM), said: “Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, in his address to the nation, set out a clear direction to accelerate efforts economic development of the United Arab Emirates continue to build a leading economy.

“As the international financial hub of the capital of the UAE, the Abu Dhabi Global Market will remain at the forefront of the growth of the UAE’s financial industry and ecosystem. We will continue to support the priorities of economic diversification and the development of the country as a dynamic global financial centre”.

Mohammed Fakhrudin Ajmal, Founder of Ajmal Perfumes UAE and Chairman and CEO of Makkaj Perfumes, has been a resident of the United Arab Emirates for over 40 years. “Sheikh Mohamed has promised to carry on the legacy left by the great Father of the Nation Sheikh Zayed and his brother, former President Sheikh Khalifa bin Zayed Al Nahyan. However, we must consider that he has accumulated an unparalleled wealth of knowledge and political experience while learning from the two former presidents.

He added: “He has entered the arena with everything he needs to usher the UAE into the next century of economic development. On a personal level, as businessmen, we have dedicated ourselves to the growth of the nation. Being led by a leader with such vision gives us the confidence to succeed.

Ram Buxani, Chairman of ITL Cosmos Group, Dubai, said: “When the country’s first citizen tries to prioritize the empowerment of people, a sense of security becomes evident. Sheikh Mohamed is not a new face for the citizens of the United Arab Emirates. His plan to visualize the dreams of the people during his first address to the nation instilled a rare confidence in us.

Buxani said: “We are lucky to have a leader like Sheikh Mohamed at our helm. He’s a great human. I remember when I first met him, I was introduced as one of the country’s elders. His instant reaction was in the form of a question: When did you come to the UAE? I replied to Your Highness in 1959, to which he replied, “So you came a year before I was born. Sheikh Mohamed is a true president of the people.

Muhammad Nafees, Vice President Finance, Pakistan Business Council, Dubai said: “I have been a resident of the United Arab Emirates for 49 years. I saw the country rise before my eyes. The management took so much care of the expat population. We do not find such recognition in our own countries. We have rights similar to those of citizens of the United Arab Emirates. »

Nafees said: “The future growth of the country depends on three pillars: attracting talent, attracting foreign direct investment and making the UAE a logistics hub. These pillars provide a guaranteed path to success.

Suren Swaminathan, former chairman of the Sri Lankan Business Council and owner of the Alico Suren agency, said: “One of the best examples of Mohamed bin Zayed as a leader was during the peak of Covid-19. He ensured that the UAE government provided us with the best medical care. He made us feel like we were one.

Swaminathan added: “He was always a caring person and never made distinctions based on race or religion. We are blessed to have a leader like him. When it comes to the business world, many Sri Lankan companies have started using the UAE as a hub, thanks to what they have achieved in the past couple of years. »

Swaminathan said at least 55 new Sri Lankan business leaders opened operations in the UAE after Expo Dubai 2020.

Malou Q Prado, Managing Director of MPQ Travel and Tourism, said: “The type of vision and leadership demonstrated by His Highness Sheikh Mohamed bin Zayed is unprecedented. It has transformed the United Arab Emirates into an entrepreneur’s paradise, and more and more people are choosing this country to set up businesses. He has big plans to improve the economy, and I’m sure he will guide the UAE to a bright future.

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