Dubai Has Recovered From Financial Crisis, Sheikh Mohammed Says
Dubai has recovered from the impact of the global economic crisis, its ruler Sheikh Mohammed bin Rashid Al Maktoum said.
Government officials should assume full responsibility for leading the next stage of the city’s modernization and development, he said in a statement posted on his website yesterday. Officials should work more intensely to facilitate business for local, regional and international companies and provide incentives to attract more foreign investment and capital, he said.
Dubai’s recent past showed the need for a financial regulatory system to oversee government departments, he said. Such a system would not put severe restraints on department officials or be an obstacle for future development, he said.
To contact the reporter on this story: Ayesha Daya at adaya1@bloomberg.net
To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net
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