Exclusive Interview: HH Sheikh Mohammed bin Rashid Al Maktoum

Mohammed bin Rashid: UAE committed to building sustainable environment that supports economic growth

• Dubai is shaping and catalysing the new wave of global trade, being the most strategic link to the Middle East and Asia for countries in Latin America, Africa and beyond
• Between now and 2050, emerging markets will be the main engine of global economic growth
• The Green Economy Initiative reflects commitment to diversify energy sources and preserve the environment whilst strengthening competitiveness

His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai has reiterated that the UAE is equally committed to building a sustainable environment while supporting economic growth. Sheikh Mohammed also emphasised that the UAE will continue to invest not only in hard infrastructure but also in soft infrastructure, with a sharp focus on education, healthcare and a culture that promotes research and development.

“The future always surprises us. We cannot predict it, but we do have a responsibility to look ahead and trace its outlines, as well as the opportunities and challenges it will present,” Sheikh Mohammed said in an interview published in ‘The Business Year: Dubai 2012’ edition produced by Dubai FDI, the foreign investment promotion office in the Department of Economic Development (DED), under a partnership with the international business consultancy The Business Year (TBY).

Sheikh Mohammed pointed out that Dubai is shaping and catalysing the new wave of global trade, being the most strategic link to the Middle East and Asia for countries in Latin America, Africa and beyond. He added: “Trade is important, of course, but we also recognise the importance and resilience of a knowledge-based economy as a key driver of sustainable growth and opportunities.

“Our Green Economy Initiative announced earlier this year reaffirms our commitment to diversify energy sources and preserve the environment whilst strengthening our competitive position. Through this initiative, we aim to become a world leading centre for the export and re-export of green products and technologies.”

Sheikh Mohammed said that between now and 2050, emerging markets will be the main engine of global economic growth with trade flows infinitely more connected and goods, services and people more mobile than ever before in the new world order.

“In 2050, our young nation, the United Arab Emirates, will be almost exactly twice as old as it is today. Forty years of foresight and strenuous hard work by our people and our country have led to our achievements and laid the foundations for our global position today and a prosperous future. Dubai and the UAE sit at the intersection of one of the most transformative moments in geo-economic history in more than a century: the gradual but inevitable shift of the economic centre of gravity from the West to emerging markets and the rise of new trade markets,” Sheikh Mohammed further stated.

“Here in Dubai and the UAE, we see these trends as positive. While we recognise the profound importance of safeguarding our identity and traditions – keeping sight of who we are and where we come from – we embrace the possibilities the future presents for our people, our city and our country.

“While there are many routes to success, here in Dubai, we are seizing the economic, cultural and scientific opportunities represented by the future, forging new connections and positioning Dubai for growth across this decade and the ones that follow,” Sheikh Mohammed added.

At over 200 pages, The Business Year: Dubai 2012 will be the most comprehensive English language review of Dubai’s economy available internationally. The report highlights the ongoing development and diversification of the Dubai economy, and draws attention to the diverse investment opportunities remaining in spite of the global economic slowdown.