Sheikh Mohammed comes out fighting on the Net
Posted on 19 April 2009 with no comments from readers
UAE Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum has come out fighting in an open forum on his website www.uaepm.ae. He rebuffs recent international press criticism of Dubai and dismisses rumors about his ill health.
‘I thank God that I am in the best of health and peace of mind and soul,’ he says, pointing out that he has completed four 120-kilometre endurance races in the last few months.
He also knocked rumors about Abu Dhabi buying into Dubai companies on the head, saying there was ‘no buying or selling’ going on between the emirates and that both remain committed to a federal solution to the global financial crisis.
Redundancies
However, he noted that Dubai Holding – the huge conglomerate of his own commercially operated business interests – was also subject to market forces, and that ‘it is normal to lay off employees who do not have a role to play’.
On the completion of infrastructure projects he pledged: ‘What is currently under implementation will be completed, while we will reschedule new projects. The changes to the strategic plan will be announced as soon as the committee finishes reviewing them.’
At the same time the UAE premier rounded on the critics of Dubai, who have been very vocal in the international media recently: ‘It seems that the distinct images of successful Arabs and Arab countries disturbs some people.’
He went on to stress the significance of Dubai as a business model as well as showing the ‘possibility of coexistence of different cultures in an open and tolerant Arab Islamic environment’.
Local business interests will doubtless take heart from this leadership statement. It combined both strength and wisdom in recognizing that the global economic crisis has changed the environment in which a globalized economy like the UAE functions, and showed the tenacity to meet any future challenges.
Work-in-progress
On the other hand, many challenges remain ahead, and the statement also left the impression that this was work-in-progress.
There was little mention of the local real estate slump – with sales, prices and rents crashing in recent months – apart from the committee reviewing the strategic plan and a promise that ‘multi-visit’ residency permits would soon be available for property owners.
It is clear that the UAE is going through a tough period of re-examining its future options but will be prepared to do whatever is necessary to keep the astonishing 37-year progress of this nation on track.
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