UAE grows from strength to strength

It is hard not to take notice of the changes the Dubai government has introduced in some of the pillars of its administrative and economic structures in the past few days.

They are part of the ongoing measures with which the government has handled the financial crisis and helped to avert the impact of the crisis, including developing laws and regulations in the banking system, foreign investment, governance, transparency and business practices.

But the most visible move is perhaps the recent changes in some of the state-owned companies and institutions such as the Investment Corporation of Dubai.

According to Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, the restructuring is meant ‘to adapt to the emerging post-crisis world order.'

"We have also arranged our domestic agenda to support our ability to continue our dynamic economic development and better define our future," he told the Global Agenda Summit in Dubai on Friday.

In spelling out the reasons behind the changes, Shaikh Hamdan has left no room for speculation or unfounded conclusions. Dubai policies are neither rigid nor complicated.

They are transparent and flexible. They adapt to changes witnessed all over the world. The flexibility of those policies helped the emirate become in a very short span of time a global hub for business, aviation and tourism.

And they will continue to enhance the position of Dubai as the world begins the process of healing following the worst financial crisis in decades.

Under the leadership of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan and His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the UAE economy will remain strong and Dubai will continue to be the viable place to do business as it has been since the turn of the last century.