'We recognise that things in the financial sector need to be stabilised, and we are working towards that,' Safadi told delegates at the Meed Dubai Mega Projects conference.
'But our eyes and our focus are on the job market. We want to safeguard job opportunities and hopefully shield Dubai from the financial crisis through government action. Everything is on the table, nothing is taboo.'
Safadi went on to say that despite negative reports in the international press, the emirate was still operating in 'positive territory'.
'Residency visas are still on the up. If we continue on this tack we will continue to be positive, we predict around 2.5% real GDP growth for 2009 - compare that to the world economy, which is set for negative growth at -2%.'
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Dubai 'may review' 30-day visa cancellation policy
- United Arab Emirates: Monday, March 16 - 2009 at 16:07
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Dr Raed Safadi, Chief Economist at Dubai government's Department of Economic Development, has said that the emirate is focusing on the employment market in order to help shield Dubai from the global financial crisis. One of the initiatives that may be reviewed is the policy of having to leave the emirate 30 days after the cancellation of an employment visa. More>>
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Edward Poultney, Editor - EnglishMonday, March 16 - 2009 at 16:07 UAE local time (GMT+4)
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This article was updated on Tue Mar 17 2009.
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