Dubai reports non-oil exports grow

Tue, 9th Mar 2010

New Laws to Restore Confidence 

Dubai Customs reported that Dubai's non-oil exports grew an average rate of 23 oercent in 2009 compared to the previous year; and in other good news, reports tell us that a new offshore oilfield recently discovered in Dubai could begin production next year. This will obviously increase the production of crude oil in Dubai, easing some of the financial pressure facing the emirate.

There are also some new real estate laws being considered for Dubai aimed at restoring confidence in the emirate’s property market. This comes at a time when economic freedom – ease of doing business – is improving further in the UAE. The 2010 Index of Economic Freedom ranked the UAE as the 46th most economically free country, which follows a number of reforms that the Government initiated in 2009.

Meanwhile, master developer Nakheel has confirmed the start of construction of a second project on its off-shore island development, The World. And it looks like up to £1.9bn could be invested in transport projects this year, which will further stimulate the economy.

And finally, you may also like to know that the government will soon put into place some important economic laws designed to further attract foreign investment into the country. Watch this space for news on how this will impact on Dubai.

And....you will find amazing deals on all Dubai Cruises only at www.CruiseDubai.co.uk   

Email to a Friend   |   Print Article

This article has been read 75 times.