The Dubai Economic Council holds its third meeting in its permanent offices at the Dubai Chamber

During the meeting, H.E Dr. Khalfan Bin Kharbash, the Minister for Financial and Industrial Issues, was chosen as the Vice President of the Council. The council also decided to form a small committee headed by the chairman to set the bylaws for the council, a working plan for the next period, and the estimated budget project, and for the committee to inform the council of its findings in a later meeting. The committee includes the Vice President, Abdul Rahman Saif Al Ghurair, Majid Hamad Rahma Al Shamsi, Dr. Ahmad Saif Belhasa, Ahmad Hasan Mohammad Bin Al Sheikh, Sultan Saeed Al Mansouri, and Dr. Anwar Mohammad Girgash.

The Chairman stated that meeting also discussed ways to develop Dubai's economy, assuring that any economic development in Dubai serves the economy of the United Arab Emirates as a whole. He added that the council includes a number of leading personalities in Dubai's business and commercial sectors, and have developed their ancestors' expertise to develop their own businesses, which reflects their abilities to develop Dubai's economy and the economy of the UAE.

"We are from the country which has achieved the highest percentage of economic growth in the world, and its not easy for any person to portray his/her own opinion on the subject, but its possible to reach this idea through the council and Dubai's executive Council, and the relative government bodies" commented Juma' Al Majid. He added "if we looked at the UAE's economic development, and how it has achieved this level of development, we would find that the government has allowed the necessary freedom for thought and money, which leads to continuous economic development without restrictions".

On the Council's ability to provide businessmen with projects and investment opportunities, Juma' Al Majid said "there are many investment opportunities, and the Gulf Cooperation Council has submitted many opportunities accompanied by studies around the economic abilities".

On the level of money being invested internationally, and if it has stopped or not, the Chairman said that this originates from newspaper and magazine articles, and there are not any scientific studies proving that.