UAE able to ride out crisis
Look towards the future with confidence and be ready for action and change – this was the message to CEOs and owners of companies operating in the UAE from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
"Both public and private sectors must shun a status quo mentality and think about change for the better," he said yesterday, welcoming CEOs of Arab and foreign companies, along with pro?mi?nent investors and businessmen at Zabeel Palace.
The businessmen and CEOs were paying a courtesy call on Sheikh Mohammed to convey their best wishes to him on the occasion of Ramadan. Sheikh Mohammed discussed with his guests the economic developments regionally and internationally and his outlook for the economy. A public-private partnership was crucial to ?realising these goals, he said.
He said the recession was "a passing cloud that will not stay long despite pessimistic speculations and analyses by economists and financial experts". Sheikh Mohammed said he was confident about the resilience and ability of the UAE Government to join forces with the private sector to ride out the crisis.
The business community presented their points of view on the recession and said they considered the situation as nothing more than a "storm in a teacup" and that it would be business as usual soon. They expressed confidence at the measures taken by the leadership and government of the UAE.
The meeting was attended by Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai; Sheikh Majid bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Culture and Arts Authority; Mohammed Abdullah Al Gergawi, Minister for Cabinet Affairs; Reem Ibrahim Al Hashemi, Minister of State; and senior officials.
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