Shaikh Mohammad answers media's queries
Shaikh Mohammad answers media's queries through website
Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, answered questions from the media and people, related to the federal government, its general strategy and direction in all fields and sectors through his official website on Saturday.
Gulf News brings live coverage of Shaikh Mohammad's answers posted on his website.
The first electronic media meeting is based on Shaikh Mohammad's keenness for continuous communication with UAE citizens and the media community.
Citizens, Arab and foreign journalists inside and outside the UAE may direct their questions through a special web page on Shaikh Mohammad's website.
These electronic media meetings will be conducted on a periodical basis, where citizens, journalists and media people can submit their questions, and will receive answers by Shaikh Mohammad through the website.
This step comes as a result of Shaikh Mohammad's great care of communicating with others and his deep understanding of the message carried by the media, to enlighten the public opinion.
Shaikh Mohammad also believes in the value of transparency and the active communication with citizens and the media alike.
The site (www.uaepm.ae), launched by the Ministry of Cabinet Affairs, is the official source of all information related to Shaikh Mohammad and the federal government.
The site is available in both Arabic and English, and it covers a variety of important areas. A section is dedicated for presenting the roles and responsibilities of Shaikh Mohammad.
Following are the answers given by Shaikh Mohammad to questions from Gulf News.
From Paul Stober, Gulf News:
The government has taken significant steps to support the financial services and property industries in the UAE. Are you happy with the results so far?
Shaikh Mohammad: I am very pleased with the results, and I am confident we are on the right track. Everybody will recognise shortly the encouraging indicators of the economic recovery.
From Duraid Al Baik, Gulf News: Do you feel that Dubai needs an efficient auditing body to investigate and curb corruption in financial institutions before things become too bad? How more the UAE can move faster in fighting corruption and promoting transparency?
Shaikh Mohammad: There is already a government financial audit department. The department has a track record of successful performance, and it has done very well with investigations related to corruption cases.
Enhancing financial auditing systems and capabilities is undoubtedly important and that is exactly what we are doing now.
As for promoting transparency in fighting corruption, I confirm that the UAE is completely committed to highest levels of transparency. There is no room for corrupt officials and citizens among us.
Handling corruption cases does not mean prosecuting judging and penalising corrupt individuals only; it also aims at filling all administrative and legal loopholes that have been used to breach the law.
From Paul Stober, Gulf News: If it became necessary, what further steps of support would the government consider for the financial services and property industries? Would the government consider extending support to other important industries in the UAE, like tourism? If so, what form might this take?
Shaikh Mohammad: The measures we have undertaken so far have shifted the UAE economy from the crisis mood to the solution mood. Not one country in the world, regardless of what efficient systems it boasts, could have ensured recovery from the financial crisis before recognising its actual impact on the global economy and international markets.
No one could predict ensuring recovery before the world's leading economies consolidates their efforts to face the crisis. That actually took several months of constant work. Now, optimistic voices are getting louder worldwide, while markets' fear has started to gradually diminish.
The UAE has one of the region's most progressive, vibrant and open economies. Efforts by world leading economies to deal with the financial crisis have been effective and fruitful, while the tendency to increase international cooperation – including recent decisions by the G20 summit in London – remains very positive and encouraging.
I can confidently say that the UAE is very well positioned on the recovery path, thanks to our domestic policy measures – such as the fiscal stimulus, easing monetary policy, and increasing liquidity in the system.
There are some early indicators of international economic recovery. Yet, I cannot predict that the global economic recovery will proceed without potential hurdles. I cannot also claim that repercussions of the economic financial meltdown are over yet.
But what I can say is that the worst is already behind us, and there is now a solid will and determination among concerned countries to join hands to collectively revive the global economy as well as their own individual economies.
Increasing financial support to other business sectors is probable, pending the actual needs of each particular sector. The UAE's tourism sector is in a good shape, with UAE hotels recording high occupancy rates.
The country's tourism industry has already successful survived the worst period and resiliently adapted itself during the most critical times.
From Paul Stober, Gulf News: What are the main strengths and weaknesses of the UAE, as it faces the challenge of the global economic slowdown? What are the particular challenges that Dubai faces as it positions itself as a global business centre?
Shaikh Mohammad: The UAE's strengths are numerous. The UAE's success in facing the global financial crisis and alleviating its impact on the Emirati economy is the most conspicuous evidence of these strengths.
The country enjoys a leading ranking position in several fields such as productivity, environment, connectivity, and transformation to knowledge economy. Yet the failure to match best international practices in these fields might be considered a major weakness. We always benchmark ourselves against the best.
I always say that we have just embarked on a long journey of hard work to fulfil our promised sustainable development through a series of strategic projects to be established during the years to come.
