A panoramic view of Dubai Marina.
Inayat-ur-Rahman, Deputy Business Editor
The UAE’s potential for growth in 2021 is tremendous. As it enters 2021, the year of its Golden Jubilee, the UAE and its people can look back with immense pride at the milestones that made 2020 a momentous year. The able and visionary Rulers of the country are to be thanked for such a promising and vision-oriented economy. Industry heavyweights and business analysts share their candid views about the UAE’s economic growth in the New Year with Gulf Today.
Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said: I wish everyone a very healthy, happy and prosperous 2021.
“At last there is a sigh of relief as we exit 2020, unquestionably the most unprecedented and unfortunate year of our lifetime.”
“While the sinister virus created havoc all over the world, we also witnessed remarkable stories of compassion and courage to save humanity from the calamity. Being in the epicenter of the pandemic, we watched the frontline soldiers taking care of the patients in spite of all the personal risks. Let us salute them, the real heroes of this battle.”
The arrival of COVID 19 vaccine brings hope for 2021. The development of vaccine within a year against a virus that we didn’t even know a year ago is remarkable triumph of the scientists. Hats off to all those who made this possible and showed us the light at the end of the tunnel at the dawn of 2021.
Let us Stay Positive but Test Negative!
Kashif Ansari, CEO, Juwai IQI said: I would like to wish the visionary Rulers and residents of UAE ‘a Happy New Year.’
Hope the new year brings a great level of economic progression for the country. Dubai remains the center of attraction for many global sophisticated and smart investors. The beauty of Dubai’s real estate market is that transactions are happening every-day. Government is totally committed to adopt technology to move ahead much faster in a structure manner. With bilateral relationship restored with Israel, We expect investors will have renewed interest in the RE market and momentum should gear up to the new levels.
The recent announcement of 100% foreign ownership is very strategic and excellent move. Market has responded positively to the move set by the country.
Ahmad Shaikhani, President Pakistan Business Council: The UAE is a safe haven for global and local investors. Dubai is one of the most secure cities in the world. It has everything from infrastructure, heritage sites, tourist spots, culture, cuisine and more over security for living.
I would like to congratulate the visionary Rulers of the UAE and the whole nation on the occasion of New Year.
Ayman Ashor, Cluster General Manager Al Bandar Rotana and Arjaan by Rotana said: I would like to take this opportunity to wish the Ruling families of all Emirates and the residents of UAE a very happy and a prosperous 2021.
The optimistic vision of the Rulers has played a vital role in keeping the nation moving forward.
The one-month extension in tourist visa has come as a huge relief to the tourists as well as hospitality industry in the country.
The 2020 was a challenging year due COVID-19 pandemic but we expect a promising new year.
Shan Saeed, Chief Economist at Juwai IQI mentioned that ports would play an important role in the economic and commercial hub activities for the next year.
The government looks totally committed to bring foreign investors to UAE and Dubai and to promote the country aggressively to the global investors who can leverage from it. UAE tends to benefit in the long run as it bolster aggregate demand and investment in the GDP equation. Most global investors view UAE favourably due to strong infrastructure and excellent business ambiance.
Sachin Gupta, General Manager of Gulf Pinnacle Investments (GPI), the UAE subsidiary of Gulf Pinnacle Logistics, said logistics sector in the UAE has a positive look for 2021 due to number of initiatives taken by the government.
“The UAE government has taken various steps to promote logistics sector in the country. The World’s Logistics Passport specially attracted major industry players to the UAE and it will continue to contribute significant share to the country’s annual GDP,” he said.
“New technologies are enabling greater efficiency and more collaborative operating models. The latest developments on Artificial Intelligence, Blockchain and other variants of the technology also re-shaping the industry in such a way that is only just beginning to become apparent,” he said.
Lina Sabestinaite, Key Corporate Developer at Fine Hygenic Holding, said: I would like to wish the visionary Rulers and the residents of UAE a very happy and a prosperous 2021.
Starting 2021, Dubai is embarking on a new level of local development and international exposure.
The year 2020 have been a bit rocky but we are expecting a joyful new year.
Under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Dubai was a pioneer in launching initiatives to overcome challenges faced by individuals and businesses, which had a significant positive impact on minimising the economic impact of the pandemic."
Under the theme “Emirati Women in Entrepreneurship”, the Dubai Business Women Council (DBWC) and the Department of Economic Development (DED), Dubai, organised a ceremony to celebrate
Spectacular fireworks in 25 different locations lit up not only the skies, but also the hearts of the people across the country.
Spot gold was unchanged at $1,731.69 per ounce by 03:54 GMT while US gold futures were also steady at $1,732.80 per ounce.
Dubai recorded exceptional inflows of foreign direct investments (FDIs) in 2020 with 455 projects worth Dhs24.7 billion, according to data from the Dubai FDI Monitor released by the Dubai Investment Development
Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum praised the efforts of federal and local entities for their part in Expo Dubai 2020.