7/3/2012

Praising the economic development, HH Sheikh Ahmed maintained that the wheel of development has been steadily progressing affirming that such meetings and workshops with the involvement of experts would contribute to enhancing the economic activities in general. The Chairman of Ajman Economic Development Department commended the efforts being made in Northern Emirates towards the development of the infrastructure in view of the fact that being a prerequisite for investments and enhancing investment attraction. From his part, Mahmoud Khalil Al Hashmi, the Acting Director General of the Economic Development Department welcomed the attendance affirming the department`s keenness on organizing this meeting to discuss the current situations and bringing forward the most critical results and statistics for discussion, analysis and benefiting from the experts` opinions on supporting the economic situation. Al Hashmi praised Department`s team being keen on organizing such meeting, which was adequately arranged for supporting the objectives of the Economic Development Department aiming at enhancing the emirate’s economic growth in particular and UAE in general. Mr. Herald Vengar, IMF Head delegation spoke about the remarkable development of the economic activity basic factors within northern emirates in particular. Mr. Vengar pointed out that the existence of several investors from different countries and in great numbers underlines the successful economic environment, which northern emirates could provide through their valued efforts in this connection. IMF Head delegation affirmed that with overcoming the obstacles and analyzing the reasons for difficulties in some investment operations, the northern emirates would have an active part within the global economic system. Mr. Vengar praised the successful economic programmes and strategic plans implemented by these emirates in recovering gradually from the recent economic downturnand professionally departing from the bottleneck, an act confirming the great efforts being made by people caring for the economic development in that area. Mr. Vengar pointed out to a point saying that it has drawn his attention through fallowing-up the business development within UAE in general that is the increase in the emiratization percentage, which reached at some government organizations almost 100%, a process deemed to be an achievement for the country in boosting its economic activity and minimizing unemployment percentage in UAE labor market. From his part, Abu Baker Al Sayari, the Acting Director of Research and Statistics department at Emirtaes Central Bank commended the objectives of this meeting . Al Sayari said that the economic growth and development in UAE in general are originating in the integration and coordination for the benefits of the common interest stating the role of the Central Bank in supporting the economic development processes. The economic experts at such Departments provided a detailed brief on the economic situation within their respective emirates through the figures, statistics and reports produced in this connection. They pointed out to the remarkable growth taking place in the export and import activities as compared to the previous years together with the growth in the shipment and re-shipment activity within the emirate of Ajman. The representatives of the Chambers of Commerce and Industry in northern emirates put forth the advantages of the Chambers of Commerce, the business mechanisms and the achieved objectives as compared to previous years. The role of the Chamber of Commerce is to cooperate and coordinate with the competent organizations and entities including the Chambers of Commerce and Industry and their Unions within and outside the country with the objective of serving the affiliated members therewith and develop their trade relations along with enhancing the economic activity towards higher and better standard.