UAE economy stays firm

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The UAE’s economic development approximated to remain at approximately 5% in 2014.

UAE economy stays firm

UAE economy stays firm

The UAE economy stays firm on the back of both the hydrocarbon sector and the non-hydrocarbon sector. The diversification strategy forms a significant support of the economic accomplishment as it reduces the dependence on oil and supports the real sector, according to an economist.

The country’s trade surroundings, which evaluates company risk, believes a number of issues like the availability of company reports, reliability and the effectiveness of legal system, has also been evaluated at A3. The business environment is developing and the actions taken to amplify the precision within the economy are vital to lessen the possibilities in the corporate sector.

The UAE’s economy registered firm progress rates with 5.2% observed in 2013.

The opening of regulatory determines by the authorities aspiring at preventing another property bubble is also hopeful for the country’s economy. The opening of the new Companies Law which brings continuing improvement to the corporate governance is also seen as a key advancement.

In recent report, the focal point is on the hydrocarbon, agro food and retail sectors as these are the main elements of the economy.

Mohamed Dekkak