Emergence of a Strategically Located Diversified Sustainable Economy
Moving away from Oil
All good things come in small packages.
United Arab Emirates (UAE) is a group
of seven small kingdoms situated in the Persian Gulf; part of
geographically referred to as Middle East (see Map). The seven kingdoms
are Abu Dhabi, Dubai, Ajman, Fujairah, Ras-al-Khaimah, Umm al Quwain and
Sharjah. Sharjah is the third largest among the seven.
It is a high income developing economy
(as per IMF), that depends on oil as one of their prime produces; it is
also a member of UN, OPEC as well as WTO apart from other bodies.
Physically, UAE is about the size of
state of Sikkim in India but the economic potential packed within this
area is simply astounding.
The visionaries of UAE, the leaders and business community included have
been astute enough to be able to foresee the vagaries of being an
unsustainable Oil-dependent economy and a country served by migrants and
expatriates. The direction of plans and policies of UAE have taken
these concerns into account.
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