Partnership aims to heighten global awareness with regards to UAE and Dubai’s economic development and efforts towards economic diversification
The Dubai Economic Council has announced a strategic partnership with the globally renowned publishing house, The Worldfolio, as the United Arab Emirates’ capital city gears up to host Expo 2020 – one of the largest and most enduring global mega-events.
Through The Worldfolio publications, the partnership aims to raise awareness in the United States and the global arena about the significant and long-term impact of Expo 2020 on Dubai and UAE’s economy. It also hopes to put forward UAE’s perspective on the three subthemes of Expo 2020—namely sustainability, mobility, and opportunity—to a global audience.
This will be the first time that the World Expo is staged in the Middle East, North Africa and South Asia (MENASA). Lasting six months, the event attracts millions of visitors, with exhibits and cultural events staged by hundreds of participants including nations, international organizations and businesses.
Dubai’s World Expo is held under the theme of Connecting Minds, Creating the Future, echoing the powerful spirit of partnership and co-operation that has driven the UAE’s success in pioneering new paths of development and innovation.
Since its inception in 2003 at the initiative of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai Economic Council (DEC) has been playing a major role in supporting the Government of Dubai's economic policy decision-making and ultimately been a major factor in the country’s economic success.
Over the last few decades, the UAE has not only established itself as a model of economic stability – reducing its dependency on oil exports by diversifying the economy, creating booming business, tourism and construction sectors – it has also established itself as a beacon of political stability and safety; two crucial elements that have helped turn the country into a regional and global hub trade.
“One of UAE’s distinctive achievements realized is the decreased GDP contribution of the hydrocarbon sector from 90% in the 1970s to less than 30% in recent years owing to the boom in non-oil sectors,” says Hani Al Hamli, Secretary General of the Dubai Economic Council.
Economic diversification has also allowed Dubai and the UAE to attract vast amounts of foreign investment, notably in ever more ambitious construction and infrastructure projects. The country’s efforts to attract investors has also seen it become one of the easiest nation’s in the world to do business according to the World Bank’s 2015 Ease of Doing Business Report, which ranks UAE 22nd overall.
As Expo 2020 approaches, the DEC is particularly keen through its partnership with The Worldfolio to communicate with US businesses and investors. “The US has been identified as a strategic partner to foster innovation in UAE. When it comes to economic relationship, the two countries have been enjoying wonderful relations and we are striving to reinforce them even more,” says Mr. Al Hamli. “What we are aiming to do in the near future is to maximize the momentum of these ties to enhance the partnerships between the UAE and the US in order to fulfill His Highness Sheikh Mohammed Bin Rashid Al Maktoum’s vision to make Dubai one of the most innovative cities globally.”
Dubai Economic Council
The Dubai Economic Council, chaired by Juma Al Majed, comprises leading businessmen and officials representing the most vital sectors of the Emirate's economy, and a Secretariat General led by Hani Al Hamli encompassing a world-class team of economists, strategists, researchers and legal advisors.
In its short history the DEC has transformed itself into a vital player in advancing Dubai's economic agenda providing the Emirate with sound economic policy recommendations that are the culmination of extensive, cutting-edge research, and dynamic dialogue built on the contributions of representatives of the public and private sectors and world-renowned academics.
The Worldfolio
The Worldfolio, a globally renowned publishing house, commenced its operations as a result of numerous strategic alliances with an international network of world-class press agencies. Since its creation in 2011, The Worldfolio has grown to become one of the most popular current affairs references in the world, alternative to major information sources consulted by leading international corporations and multilateral organizations.
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