UAE | General
Mohammad reaffirms UAE unity
Vice-President quashes talk of discord and reassures investors on the strength of Dubai's economy
- By Babu Das Augustine, Deputy Business Editor, Gulf News
- Published: 13:16 November 9, 2009
- His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
- Image Credit: WAM
Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Monday reaffirmed the strong bonds among the emirates of the UAE Federation and the closely knit family ties between the ruling families of Abu Dhabi and Dubai.
In a keynote address at the MENA and Frontiers Conference in Dubai, organised by Bank of America Merrill Lynch, Shaikh Mohammad said: "Dubai is part and parcel of the UAE Federation. Abu Dhabi and the member emirates are one with a common destiny."
"The two ruling families, Al Nahyan and Al Maktoum in Abu Dhabi and Dubai, are one family linked with bonds of kinship and blood and have the same roots. I tell those who speak about Abu Dhabi and Dubai as two separate emirates running in opposite directions to shut up and not speak of something that is completely against the reality," Shaikh Mohammad said.
Active on world stage
"We are one state and proud of our President my brother His Highness Shaikh Khalifa Bin Zayed Al Nahyan. We are proud of our State, our people and our people are proud of his leadership, wisdom, Arab identity and origin," Shaikh Mohammad said.
On Dubai's economy Shaikh Mohammad said the international financial crisis will never dissuade Dubai from its development ambitions and will not dislodge its leading position as an active player in the world economy.
He assured investors of strong support for the next tranche of Dubai's $20 billion (Dh73.5 billion) bond programme. "The second tranche will be well-received and it will be used to meet current and future obligations," Shaikh Mohammad said.
A $10 billion first tranche was placed with the UAE Central Bank. Dubai issued a two-tranche, $1.93 billion sukuk on October 28 following a highly successful international roadshow which generated a large order book with over 300 investors placing orders in excess of $6.3 billion equivalent.
Long-term vision
Senior finance professionals and government officials echoed Shaikh Mohammad's confidence.
"We believe that the econ-omic fundamentals of Dubai are strong and through the excellent leadership of Shaikh Mohammad, Dubai will continue to grow. Dubai World is part of the long-term vision, creating a world-class destination for living, business and tourism," said Sultan Ahmad Bin Sulayem, Chairman of Dubai World.
Jonathan Moulds, president of Europe the Middle East and Africa for Bank of America Merrill Lynch, said: "Dubai is an outstanding location from which to lead our regional operations and, thanks to His Highness' drive and determination, it will continue to be the financial hub of a region of ever increasing importance and vitality."
Share this article
Related Articles
Popular in UAE
-
Your pictures
Readers' pictures
The best reader pictures from around the UAE this week
Latest news
- Youngsters arrested for violating decency laws
- Road work delay jams Deira
- Metro has carried nearly 3m people
- Haj pilgrims from UAE get quality services
- There's something to sing and dance about in Sonapur
- Internet blamed for reading habit decline
- Tache the way to highlight causes
- Local students shine at Dubai media awards
- Charity trek to frozen heights raises Dh180,000
- Parents want pupils dropped off inside schools
- Community event to salute selfless citizens
- Time to properly deal with waste
- Focus on Guggenheim: Abu Dhabi keeps art lovers hooked
- Holidaymakers in UAE make a beeline to deserts during the cool season
- Five months later, same driver, same queue
Community Reports
-
Keeping out curious cats in Abu Dhabi
Felines trapped in electrical substations create a nuisance
-
Construction site turned into dump
Sharjah residents using abandoned spot to dispose of waste
-
Stop disregarding road rules
Gulf News reader calls on authorities to curb reckless driving during rush hours in Mussafah industrial area underpass
-
Public transport is the way to go
Residents must stop complaining about feeder buses taking up parking space
