The UAE economy is expected to grow 4 to 5 per cent economic this year, more than double the global economic growth rate, said Ronald Herman, CEO of Mubadala GE Capital (MGEC), a public joint stock company specialised in commercial financing solutions to a full range of commercial customers from Small and Medium enterprises (SMEs) to large corporations in all core industry segments.
In an interview with Gulf News, Herman said that he is optimistic about the UAE economy as it had shown resilience and rebounded from the 2008-2009 financial hardships. “A 4-5 per cent economic growth can be easily achieved in the UAE. I think it could be possible even higher. The UAE is going to have a good year because it has a safe and secure economy, tax rates are low. It is business friendly with very good governance and security, as well as excellent transportation and infrastructure.
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About the author
Kazim Ladimeji is the Director of thecareercafe.co.uk—a resource for start-ups, small business and job seekers. It includes a blog with career and small business advice articles. Kazim is a Chartered Member of the Chartered Institute of Personnel and Development, and has been a practising HR professional for 14 years.
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