Expo 2020 will drive entrepreneurial growth and help Dubai in its aims of becoming a regional startup hub, according to a new report from Oxford Business Group (OBG).
The report notes that the event is already having a positive impact across the construction and real estate sectors, with hightened activity already evident in infrastructure, hotels, leisure and business facilities, transport projects, warehouses and homes.
“Our report indicates that government investment in infrastructure ahead of Expo 2020 is already benefiting the private sector,” said OBG Editor-in-Chief and Middle East managing editor Oliver Cornock. “Over time, we expect Dubai’s plans for building the city of the future through several strategic public initiatives to have far-reaching knock-on effects across the emirate and beyond, paving the way for a more sustainable growth path which is in tune with the UAE’s long-term development objectives.”
In the report, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, wrote that the UAE’s “work across all sectors has been tireless”.
“The excellence awards, strategic planning and government service improvement programmes, electronic and smart government initiatives, as well as the government performance management systems have not been a waste of our time and effort,” he said. “Our public sector has witnessed significant improvement, with the concept of excellence and reaching first place becoming deeply rooted in our government culture.”
On a national level, Sheikh Mohammed also noted that the UAE has achieved a 62 percent rate of progress in the 52 key performance indicators of the UAE National Agenda, which included infrastructure, economic and housing indicators.
“[This] means 38 percent have not yet been effectively achieved,” he noted. “We have only five years remaining – a very short period in the life of a nation.”
To achieve the UAE’s goals, Sheikh Mohammed noted that the government has formed ‘National Agenda Execution Teams’ made up of 550 government officials from various sectors and departments, under his direct supervision, who will work to ensure the UAE’s goals are met by 2021.
“There is no room for procrastination, no time for delay. History is a witness to all of us,” he added. “We have promised our people that we will accomplish what is best, and we shall fulfil our promise.”For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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