Still, Dubai’s adaptive capacity and its strong role as a trade hub promise to deliver healthy growth in 2015,” said Lahouel presenting Dubai’s economic outlook for 2015 at the UAE Economic Outlook Forum.

DED statistics show Dubai’s GDP grew at 4.6 per cent in 2013,4 per cent in 2014 (based on results for the first half and estimates for the second half) and is projected to grow at 4.5 per in 2015.

Trade, real estate services and manufacturing are expected to be the largest contributors to growth (58 per cent) in 2015. “Dubai’s economy is well diversified, stronger and more efficient than pre-crisis years. We are confident that the economy can withstand international markets volatility,” said Lahouel.

The recent sharp decline in oil prices, according to DED has both positive and negative implications for Dubai’s economy. On the positive side, it is expected to result in decrease in the cost of transportation boosting the number of travellers and possibly increased movement of goods. Tourism in general is expected to benefit because of the decreased cost of travel and higher purchasing power resulting from appreciating dollar.

Dubai:  His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, on Wednesday launched the Dubai Plan 2021.

The ceremony was attended by Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council. Launching Dubai Plan 2021 is the beginning of a new phase of sustainable and systematic developments in all vital sectors in Dubai.

Shaikh Mohammad highlighted the importance of cooperation between all stakeholders to achieve the objectives of the plan, which basically targets people’s happiness and welfare by developing all sectors. He asserted that collaboration among various departments in Dubai Government will lead to excellence and a comprehensive development in the quality of government services.

Shaikh Mohammad said the rapid regional and global changes compel us to double our efforts to protect our achievements and enhance our opportunities to reach new ones; this approach constitutes a strategic objective that serves the best interest, both individually and collectively. Sheikh Mohammed concluded that Dubai Plan 2021 is a clear and detailed roadmap, and the success depends on our commitment and our ability to cope with the changes efficiently.

Shaikh Hamdan has directed all the entities in the Government of Dubai to align their strategic plans with Dubai Plan 2021 to ensure consistency and synergy.  “Dubai 2021 is a city that puts people first. Dubai Plan 2021 is the highest priority for Government of Dubai for the next seven years. It represents a roadmap documenting the vision of His Highness Shaikh Mohammad Bin Rashid Al Maktoum for Dubai’s future and an interpretation for the community’s hopes and aspirations for a promising future."

Dubai Plan 2021 took one year in the preparation phase.

The framework of Dubai Plan 2012 includes six themes that define and describe Dubai in the year 2021:

• City of Happy, Creative & Empowered People

• An Inclusive & Cohesive Society

• The Preferred Place to Live, Work & Visit

• A Smart & Sustainable City

• A Pivotal Hub in the Global Economy

• A Pioneering & Excellent Government.