UAE Economy Will Grow Constantly In The Following Two Years – Predicts Norman Logistics Sp.zo.o.

Norman Logistics Sp.zo.o. has released a new forecast of UAE economy. UAE economy will grow, especially in the regions with most significant oil export. This growth will be supported by several important aspects – increase of oil process, infrastructural investments, support of entrepreneurs, parliament reforms, new legislation in investments area, and grow of economic rate growth in sectors not involving oil.

Speaking of particular rates of growth it shall be mentioned that forecasts are about approximately 2% of GDP growth in 2018 compared to the previous year; 3% in 2019 and 3,2% in 2020^[1]. Significant fluctuations, which could rapidly change the forecasts of the World Bank are impossible in the oil market, but small variations could obviously happen. Rolands Petersons, member of the board of Norman Logistics Sp.zo.o. offers his thoughts on UAE economy.

State economy today is characterized by the investments related to the preparations to Expo 2020. This supports the rapid growth of construction area. Recent business area reforms and new investment law^[2] also provided positive effect. It is recommended to continue the strengthening of investors’ relations.

UAE shall use the moment when tourism became so strong like never before and maximum advantages shall be generated from it. Opportunities of Expo 2020 should also be used to the full scale. Parliament investments infrastructure, e.g. for the improvement of buildings for the needs of Expo, improvement of roads and bridges, traffic and subway lines, adjustment of territories to the needs that will exist after the Expo, indicates the long-term planning.

The only aspect which could cause concerns in the future is workplaces – will the speed of economic development be able to generate enough workplaces, as long as there are many regions with high quantity of young people, who will reach the employable age in the years to come.