UAE's Ability To Create Modern And Sophisticated Infrastructure Has Played An Im

The report also revealed that despite concrete efforts to develop a non oil-based economy, the oil sector in the UAE was still a major economic contributor, with average oil production in the UAE increasing to reach 2.6 million barrels a day during 2006, at an average price per barrel of USD 63. As a result of the increasing oil production and strong non-oil sector performance, the country's Gross Domestic Product (GPD) increased to reach Dh599 billion at a growth rate of 23.5 per cent. The investment climate in the UAE also remains strong, with the report noting that the harmony of government policies with the efforts of the private sector has helped the UAE become a destination for major global companies. Favourable government policies have boosted private sector investments to reach 59.3 per cent of the total investments made during 2006, which included housing, tourism, hotel projects and other services. This strong economic activity and the ongoing movement of capital to the UAE resulted in an increase of overall liquidity from Dh415 billion in 2005 to Dh507 billion in 2006. ... http://uaeinteract.com/docs/UAE_economy_has_achieved_tremendous_growth_Minister_/27554.htm

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