Dubai economy to grow by 3-4% in 2017-18: DCCI

By Rajive Singh

DUBAI 21 November 2017: Dubai’s economy is expected to grow by 3-4 per cent in the 2017-2018, Hamad Buamim, President and CEO of Dubai Chamber of Commerce and Industry (DCCI), said at a ‘Meet the CEO’ event organised by the Government of Dubai Media Office (GDMO), on Monday.

He pointed out that 98 per cent of Dubai’s GDP comes from non-oil sectors, which include tourism, aviation, hospitality, retail, logistics, and financial services. He added that Dubai will create new business opportunities and target new markets over the coming years, said Wam.

The United Arab Emirates has a clear and comprehensive vision to diversify its economy and achieve an optimal balance between its various sectors to ensure sustainability and create new business opportunities, he stated.

Buamim added that analysis conducted by Dubai Chamber has projected steady growth in Dubai’s markets in 2018, expressing his optimism about Dubai’s prospects. He also highlighted Dubai’s competitive advantages, which have enabled it to attract a high volume of FDI that exceeded US$3 billion H1, 2017.