Emirate of DUBAI

Economy of Dubai

The economic and financial situation of the Emirates is and will remain overall solid. U.A.E. are the country of the most advanced Gulf Cooperation Council in the process of diversification of their economy. The services (international trade, tourism, financial activities) represent already more than 50% of the GDP and the sector of the hydrocarbons (oil and gaz)ne adds up more than 30% of the GDP in 2003 against 45% at the end of 1980. finally the place of first regional airport platform asserts. In this context, and strong of successes passed, continuous of launching ambitious projects which however comprise many financial risks.

Progress as regards structural reforms is variable according to the Emirates. Although they are members of the O.M.C since 1996, U.AE. does not preserve any less one restrictive legislation as regards access to the market and of foreign investments but more laxist with regard to protection of the intellectual property. The evolutions recorded in the field of the opening to the foreign investments remain limited and variable of an emirate and one sector with the other. As regards banking supervision, the Central Bank reinforced its capacities of control, by calling upon international experts. It, in addition, supplemented its lawful device.

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