Mideast expert lauds Dubai's economic accomplishments
The comments came during the second Middle East CEO of the Year 2005 awards ceremony yesterday, at which Dennis Ross, former Middle East envoy was the keynote speaker.
Dubai is a role model for others in the region, according to a top official.
"They know how to compete on the international stage, and I'm convinced that they'll be prominent players on the international stage," Dennis Ross, former Middle East envoy and director of the Washington Institute for Near East Policies, told Gulf News.
The comments came during the second Middle East CEO of the Year 2005 awards ceremony yesterday, at which Ross was the keynote speaker.
"Dubai has become a service provider with an environment that limits regulation, and what you see in Dubai and the rest of the UAE as well is a very good model, because in the case of Dubai, they developed an economy that doesn't depend on oil."
The awards, which recognise exceptional achievements by CEOs throughout the Middle East, were bestowed on seven leaders who have guided their companies to higher performance levels.
"CEOs are the biggest keys to success. Being a CEO requires leadership, the power to inspire and to chart a new path for growth and build a new vision towards the future," said Ali Al Kamali, managing director of Datamatix, which organised the event.
But some argue that this new vision of Arab business leaders and their achievements also needs more changes on the macro-economic scale.
"Without competition [in Arab markets] and transparency, businesses will not develop to international standards. The Middle East doesn't have competition even in the relatively free economies, protectionism is high, so they are not mature and as advanced as their international counterparts," Dr Saad Al Barrak, director-general of MTC, told Gulf News.
Winners
Government CEP of the Year Award:
- Qasim Sultan Al Banna, director-general [Dubai Municipality]
- Saeed Mattar Bin Beleila, director [Naturalisation and Residency Administration, Dubai]
Industry CEP of the Year Award:
- Mohammad Al Mady, vice-chairman and CEP [Saudi Basic Industries Corp, KSA]
Service Sector CEP of the Year Award:
- Dr Khaled Al Sultan, director [King Fahd University of Petroleum and Minerals, KSA]
Banking and Finance CEP of the Year Award:
- Abdullah Bahamdan, chairman and managing director [The National Commercial Bank, KSA]
ICT CEP of the Year Award:
- Dr Saad Al Barrak, director-general [MTC Group, Kuwait]
Young CEP of the Year Award:
- Esam Yousif Janahi, CEP [Gulf Finance House, and chairman, Bahrain Financial Harbour, Bahrain]
