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We will overcome challenges: Sheikh Mohammed

Dubai, June 23, 2010

The UAE's economy is strong despite the effects of the global financial crisis and it has the ability to overcome all challenges arising from it, said UAE Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum.

Sheikh Mohammed, in an interview with CNN, said: 'The recession is a global phenomenon and I do not think that we in Dubai fear it, but instead consider it a challenge.''

Giving an example of Dubai' resilience, Sheikh Mohammed revealed that Emirates Airline will place a large plane order at the Farnborough Air Show in July.

Details of the the interview, which will be aired in full on CNN on July 25, were published Sheikh Mohammed's official website.

He said that the UAE faces daily challenges such as water shortages, growth and development, adding that the country is not suffering from a recession in the real sense of the word, but rather challenges.

''Without challenges,''Sheikh Mohammed reasoned, ''life would be boring. Dubai and Abu Dhabi and the rest of the UAE are fine,'' he added.

In response to a question about the secret behind the Emirates Group's $15 billion business deals following the events of 9/11, as well as the recent $11.5 billion A380 Airbus purchase during the global financial crisis, Sheikh Mohammed said that opportunities arise out of crises.

He remarked that Dubai Airport's continued expansion, in addition to large growth in passenger numbers and tourism, prompt the national airline to invest in more airplanes to keep pace with developments.-TradeArabia News Service




Tags: UAE | sheikh mohammed | Recession | interview |

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