Davos, Switzerland – The UAE remains committed to diversifying its economic base in the face of changing global economic landscapes, said UAE’s Minister of Economy, Abdulla Bin Touq Al Marri while speaking at the HUB Davos 2024 conference.
The event, hosted by the Dubai-based mediahouse TRENDS, was held under the theme ‘The Arab Future’. The discussions were focused on the dynamic changes occurring in the Arab region, particularly in the Arabian Gulf, and their broader implications for the world economy.
Al Marri emphasized the UAE’s innovative approach in exploring new areas in the oil sector while also highlighting the significant contributions of non-oil sectors to the national economy.
Julien Hawari, CEO and Founder of Special Edition and Million, pointed out the rapid progress of Gulf cities like Abu Dhabi, Dubai, and Riyadh. According to Hawari, these cities have become hotspots for global investment and development, driven by their efficient and youthful administration. This development is reshaping the Gulf’s role in the global economic arena.
The conference also touched upon the broader geopolitical factors influencing the global economy. Al Marri stressed that despite global geopolitical challenges, economic growth remains a top priority for the UAE. His statement underlined the resilience and strategic vision guiding the UAE’s economic policies.
Julien Hawari, CEO and Founder of Special Edition and Million, highlights that the hottest cities in the world — #AbuDhabi, #Dubai, #Riyadh — have become highly sought-after due to the Gulf's rapid progress, driven by efficient and young administration.@julienhawari @Davos @wef pic.twitter.com/ap4MZYPgw6
— TRENDS (@mena_trends) January 17, 2024
Adding an international perspective, American financier and former White House Communications Director, Anthony Scaramucci, expressed his hope for Switzerland to reclaim its position as the ‘Dubai of Europe.’ The comparison underscored the global influence that Dubai has garnered as a major economic hub. Khalid Abdulla Janahi, CEO of Vision 3, brought attention to the benefits of competition in the region. He believes that healthy competition among Gulf countries is propelling everyone towards excellence, ultimately benefiting the GCC and its people.
Watch the full session here.