Abu Dhabi: The Minister of Economy, Sultan Bin Saeed Al Mansouri, said the UAE economy remains robust thanks to the diversification provided for by the wise leadership's economic policies.
The UAE economy is capable of achieving a growth rate of 2.5 per cent in 2010, compared to 1.3 per cent last year, while inflation is expected to fall to 1.1 per cent, down from 1.56 last year, according to Al Mansouri in statements during a Ramadan gathering at Mina Salam Hotel, Dubai.
The UAE economy weathered the financial crisis thanks to certain measures and incentive reforms which helped minimise the losses, he noted.
"The UAE GDP in 2009 reached Dh914.3 billion," Al Mansouri said.
"Non-oil sectors accounted for about 71 per cent in the country's 2009 GDP compared to 66.5 per cent in 2008," he added.
Strategy aims
Industry is expected to account for 20-25 per cent in the UAE's GDP in the years to come; up from 16.2 per cent this year, he noted, adding that the Ministry's strategy aims to push up this contribution to 90 - 97 per cent.
Al Mansouri also pointed out that reports published by acclaimed research centres and organisations affirm the UAE's resilient and strong economy.
He said that the Global Investments Prospects Assessment (GIPA) released by the United Nations Conference on Trade and Development (UNCTAD) listed the UAE among the top 30 global countries for direct foreign investment.
He said that the ministry is already studying plans on introducing a database that lists all investment opportunities in all of the emirates, which is in line with improving the investment and business environment.
