Dubai will emerge stronger from the global slowdown, Dr Omar Bin Sulaiman tells Capital Club membersPress Release 10 Feb 2009 11:58 am
Exclusive Business Lunch Forum addresses Dubai's response to credit crisis
The Governor of the Dubai International Financial Centre (DIFC), HE Dr Omar Bin Sulaiman, yesterday told members of the Capital Club the economy in Dubai has turned a corner and would emerge from this period stronger than before.
Speaking at a lunch forum at the Capital Club, Dubai's premier private business club, HE Dr Omar outlined the fiscal and policy actions taken by the UAE and Dubai Governments to move from stabilisation to recovery.
"We believe that we have in place the financial and economic infrastructure to enable Dubai to rebound more quickly than other economies. But Dubai will do much more than weather the storm; it will come out stronger" said Dr Omar.
Commenting on the event, Andrew Christon, General Manager of the Capital Club, said: "Dr Omar set the agenda for the Capital Club's speakers' programme, starting with his first talk in 2007. His insight and expertise ensure our members in the private industry are aware of the government's strategy and how they can support it."
During his presentation, Dr Omar outlined major policy actions the Dubai Government has taken to meet the challenges of the global slowdown, but he also spoke about the importance of dialogue with the business community.
"We have already taken many fiscal, monetary and policy steps to stabilise the economy, but as we move forward into recovery mode, we are at the point when the government's active and broad-based engagement with the private sector will be most beneficial. Now is the time for a wider engagement with you, the leaders of the business community," said Dr Omar.
The Business Lunch Forum with Dr Omar was the latest fixture of the Capital Club's speakers'; programme, which has previously hosted Her Excellency Sheikha Lubna Al Qasimi, UAE Minister of Foreign Trade and distinguished member of the Capital Club's Board of Governors; former Costa Rican President and CEO of Concordia 21 in Spain, José María Figueres; Formula One driver Giancarlo Fisichella and one of the world's best violinists, Miha Pogačnik.
The Capital Club opened on 9 April 2008, in the DIFC's Gate Village. Since its launch in late 2006, the Capital Club has attracted over 1,250 members, including some of the region's most senior decision-makers, and leaders in business, finance and government. Little expense has been spared to create within the DIFC an elegant and welcoming ambience in which to meet, to exchange ideas and to entertain guests. The luxurious décor of the club - which houses dining rooms, lounges, private meeting rooms, a wellness area, and guest rooms - is exquisite and includes contemporary art from the region, fine antiques, handcrafted furniture and rich imported fabrics.