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Financial sector report from DEC, Deloitte

Al Hamli stressed that Dubai has managed to transform its economy as an example to follow for other countries.

The Dubai Economic Council, or DEC, has joined hands with Deloitte to launch a report early next month that will highlight financial sector’s development in promoting sustainable growth and investment in Dubai, according to a statement issued by the council on Saturday.

Entitled “Financial Sector Development for Promoting Investment and Sustainable Growth in Dubai”, the study reviews and presents an analysis of the key factors that could enable Dubai to transform and foster its position as an international hub for trade and finance and to attract more investment. It will be unveiled on March 3.

“The report provides a reference framework for decision makers on how to boost the investment environment in Dubai,” DEC secretary-general Hani Al Hamli said in the statement. The report is the first of its kind in the UAE and the region, he added.

A core component of the report is the benchmarking study against other peer international financial and trading hubs that have been successful in attracting investment to unprecedented levels, such as Singapore and Hong Kong. The report identifies potential gaps that require further development in order to enhance Dubai’s competitiveness and attractiveness of more investment opportunities.

Al Hamli stressed that Dubai has managed to transform its economy as an example to follow for other countries. This is in part due to the strategies adopted by the government, driving diversification of the economy, enabling expansion of local infrastructure and promoting best service standards.

— abdulbasit@khaleejtimes.com