Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- Expo 2020 win boosts investment in airport expansions  Join our daily free Newsletter

MENAFN - Khaleej Times - 25/01/2014

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Khaleej Times) The emirate's expansion in airport capacity and facilities will provide vast growth opportunities for the global aviation industry.

A significant portion of the government investments planned for infrastructure development in the emirate will be for the aviation industry with the airports sector being the top priority. The global aviation industry will benefit immensely with the opening of the floodgates of new investments in the run up to the event, which will attract 25 million tourists to the economically-vibrant region.

His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai said: "We have a lot to accomplish and we have no excuse for any delays or poor performance. We have what it takes to achieve as we are blessed with rich resources, capabilities, expertise, positive energy, a thirst for knowledge, dedication and above all, the leadership's unlimited support."

Dubai is expected to invest more than 8 billion in new infrastructure to host Expo 2020. Total spending related to the Expo, including private sector projects, could reach 18.3 billion, HSBC estimated. As much as 43 billion in infrastructure projects would need to be developed in preparation for the event, Deutsche Bank estimated. Aviation has established itself as a vital contributor to the UAE's economy, contributing more than Dh145 billion or 14.7 per cent to the national Gross Domestic Product (GDP).

Shaikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Executive Officer of Emirates airline and Group, and Chairman of the Expo 2020 Preparatory Committee, said: "The required costs would not be problematic as it makes sense and has a business case. The World Expo in Dubai would present opportunities and leave a lasting legacy, not only for Dubai and the UAE, but for the economy and the wider region."

"This contribution is projected to grow further in the coming years and as such justifies the country's huge investment in airports and airline networks. Aviation and logistics have had a major impact on other economic sectors such as tourism, hospitality, trade and finance, and activity in one spurs growth in the others," he remarked.

Taking place from May 11-13 at the Dubai International Convention and Exhibition Centre, the Airport Show 2014 emerges as the first gateway for global airport industry players to showcase their portfolio of the latest and innovative products, services and solutions and to also get business-driven networking with regional decision-makers and key players.

Daniyal Qureshi, event director of the Airport Show, said: "The show offers aviation companies and regional airport authorities a win-win formula. Its going to the best B2B event for the industry to tap the boundless business opportunities over the next seven years leading up to Expo 2020. From a readiness point of view, the year 2020 is just around the corner."

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help