Dubai can now grow even bigger

ABU DHABI — Dubai, which has emerged as regional business hub, can now grower even bigger, as path is now cleared for an all round expansion, growth and becoming Global Business Capital after the appointment of Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum as Crown Prince and Shaikh Maktoum bin Mohammed bin Rashid Al Maktoum as Deputy Ruler by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

Khaleej Times spoke to different stakeholders in the UAE economy including a banker, a known investor, and top businessmen on the appointments announced by Shaikh Mohammed and how it would impact on the investment climate and on the long term growth of the emirate and the country.

All the business people this correspondent spoke to said in unison that the sky is limit for the Dubai’s leadership, who can achieve anything now, as they are full of ideas and ambitions.

Mehmood Suliman-Ray, country head LLB Bank, which has launched several mutual funds for  the Middle eastern market  termed the appointments ”well timed” which would have longer term impact on the whole country. The way Dubai is fast shaping up in terms of business hub of the Middle East, it was logical to prepare the second line of leaders.

J.R.Gangaramani, chairman Al Farra Construction Group, which is actively involved in the construction industry in the country,  with over 12,000 workforce, said Shaikh Mohammed has set his eyes on future with strategic planning for coming decades, which for sure could now accomplished by new leadership, who have already got training under him.

Rizwan Sajan, chairman of Danube Group, one of leading suppliers of construction material to the real estate sector, said that Dubai’s future is secure in the hands of Shaikh Hamdan and Shaikh Maktoum.

Syed Abrar Al Khan, general manager Decson Engineering,, said that economic growth is strongly linked with the political leadership, and in this case, Dubai has taken a timely step that would continue to contribute to the economy.