Official measures 'achieved objectives'

Dubai: The UAE economy is recovering from the impact of the global financial crisis, Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince, said.

"Proactive measures by the UAE Government in handling the financial crisis have achieved their objectives: Our economy is humming again and, compared to most international growth rates, the UAE is enjoying a healthy economic resurgence," he said.

Elaborating on these measures, Shaikh Hamdan said, "The measures we have taken include developing laws and regulations related to the banking system, foreign investment, governance, transparency and business practices."

In September-October last year, the UAE injected Dh120 billion through the Central Bank and the Ministry of Finance to support the banking system.

"We have restructured a number of our companies and institutions," he said. "We have supported investment in infrastructure, and completed giant projects on time. We have maintained steadiness in realising our strategic plans."