According to His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the current global financial crisis “will not last for long.” He is hopeful that the government along with cooperation from the private sector will overcome the crisis quicker than most economies of the world. The business community also affirmed that the UAE government has taken adequate measures to stimulate the national economy in order to avoid minimal losses. Shaikh Mohammad proposed many developmental plans to boost the investment environment in the Emirates to create more job opportunities and advancement in social, humanitarian and educational sectors.
The real estate and banking sector have gained some momentum after fumbling for the past months amid crisis. Tourism industry has also plunged as evident from the rising hotel occupancy rates.