|
 |
News |
 |
|
| |
Email this article | 
Print
This Page
|
| |
Dubai should look beyond services sector: Official |
| |
6/5/2006 9:38:56 AM |
| |
| |
DUBAI • Dubai needs to invest more in technology and manufacturing and should reduce reliance on re-exports and cheap labour, a government planning official said yesterday.
Khaled Al Kassem, deputy director for planning and development, said Dubai should develop small and medium size enterprises, boost value-added activities such as technology spending, and invest in education to improve the local workforce.
"In order to create a good value-added economy you need a more capital intensive and technology sector focus rather than just bringing in more manpower," he said in an interview to mark the release of a report on Dubai's competitiveness.
The report, published jointly by the Dubai Department of Economic Development and the Switzerland-based International Institute for Management Development, ranked Dubai's economy 17th among 61 economies around the world.
The United States ranked first in the survey, which measured factors such as ease of doing business, fiscal policy, management of public finances, and adaptability of government policy to changes in the economy.
Dubai, the only Middle Eastern economy rated in the study, received its highest marks in the economic performance and government efficiency criteria, ranking 6th and 9th respectively.
Dubai officials applauded the rankings, saying they demonstrate the lure of Dubai for international businesses, but said the economy should expand from focusing primarily on services.
"In re-export we are very good but we should have more manufacturing," Kassem said.
He said human development in Dubai was one of the economy's most important challenges and said more young national professionals should take part in the management of the economy, especially the private sector.
UAE nationals account for 20 per cent of the population and less than 10 per cent of the workforce of the United Arab Emirates.
All Gulf Arab countries have been trying for years to replace foreign workers with their nationals, offering training schemes and subsidies to encourage companies to hire locals. |
| |
thepeninsulaqatar.com |
news |
| |
Email this article |
Print
This Page
|
|
 |
| |
|
| Upcoming Events |
 |
|
| Upcoming Sports |
 |
|
| Featured Links |
| |
|
|
|
