Expo 2020 to draw $30b investments
DUBAI: Expo 2020 will be another milestone for the brand image of Dubai as the global player among the top cities in the world. Expo 2020 will attract investments amounting to $30 billion, which is massive for UAE.
With increased oil prices, economic confidence and modern infrastructure will be the success story for Expo 2020. More than 100 countries have confirmed their participation for the Expo2020, which is a positive signal for the market and affirms deep trust in the economic policies of the Dubai government.
This was stated by IQI Malaysia Chief Economist Shan Saeed during a presentation organised by the Pakistan Business Council in Dubai late on Tuesday.
He cited Jebel Ali as the major success story for turning around Dubai as the region’s top class port facility in the GCC. He gave full credit to the wise leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai for making the Emirate as a world- class city with modern infrastructure and a great place for doing business in the city.
Shan Saeed shared his thoughts on the global economy which would remain volatile for the next 4/5 years. He said oil prices would be trading at $75-100/barrel by Q-3, 2017 due to increased demand of 94 million barrels per day, supply constraint, geopolitical risk and above all bankruptcies in the US/Canada Shale Gas companies.
Economic destiny will uplift the masses from absolute poverty with Infrastructure / Development and Growth strategy. CPEC Investment will buttress the economic activity not only for Pakistan but also for the GCC and CAR region..
The renowned global economist said that modern infrastructure has strong correlation with the economic growth, investors confidence and real estate market in the long run. He elaborated that Chinese strategic investment in Belt and Road initiative would change the economic destiny and bring about economic prosperity for Pakistan.
With the development of Gwadar as the hub, Chinese entrepreneurs would leverage from the development for trade and services facilities. This significant investment would provide a colossal boost to the GDP growth, economic confidence, business momentum and empowering people with enhanced living standards.
CPEC should complete its short goals pretty soon since the long term goals will be realized once economic potential give dividends. It gives Pakistan a chance to display her true potential to emerge as a powerful country.
Ahmed Shaikhani, President, Pakistan Business Council (PBC) also highlighted the role and major initiatives taken by his organisation during his opening address to the gathering. He noted that the main idea behind PBC is to educate and assist his country’s business community in trade and investments abroad.
UAE is the right platform to communicate the world’s most brilliant ideas, bringing the global community together to learn, share and grow, while introducing significant new technologies and innovations.
“Hosting Expo 2020 will be beneficial for all sectors such as airports, road networks, logistics, business centres, free zone areas, banks, hotels, shopping malls and more sectors. Moreover, the employment opportunities generated would be in the travel and tourism sector, indicating significant potential for permanent roles to serve the expanded economy,” he added.
He lauded IQI Malaysia for sponsoring the event.
Moazzam Ahmad Khan, Pakistan Ambassador to UAE and Ms. Li Lingbing, the Chinese Consul-General in Dubai were also present along with other dignitaries at the event.