(MENAFN - Khaleej Times) DUBAI - The Dubai Economic Council (DEC) will launch its "Dubai Economic Outlook 2011" (DEO-2011) Report at a Press conference on January 23, 2012, at the Address Down Town Hotel in Dubai.
The DEC Secretary-General Hani Al Hamli stated that the DEO Report is the first of its kind in Dubai. It covers key economic indicators and analysis of the macroeconomic performance in the emirate on quarterly basis. The DEO-2011 also covers some of the main economic sectors in Dubai, such as real estate, tourism, foreign trade, and finance.
Additionally, the Report includes forecasts for the said indicators, based on econometric models, in line with best practices worldwide in this domain, such as linking the local economic variables with the global ones, (oil prices, world economic growth rate, among others). This initiative resembles economic reports published by modern economies and international development organisations.
Al Hamli added that the main objective of this report is to provide the latest data and information about the developments on the macroeconomic level, as well as in a number of economic sectors in Dubai. This information is also analysed to help decision makers in Dubai in setting sound economic policies and programmes. Moreover, the Report aims to help the executives of private companies in making future investment decisions, which eventually enhance the economic growth of the Emirate.
A number of decision making centres in the emirate, business representatives of various economic sectors, academics, and experts, as well as representatives of media organisations are invited to attend this event in order to discuss various issues reviewed in the report.
Al Hamli pointed out that this series of Reports was made possible thanks to the strategic partnership and cooperation agreements between DEC and Dubai Statistics Center, as well as other local departments relevant to the sectors covered by the Report -such as Dubai Customs, Department of Tourism and Commerce Marketing, Dubai Land Department and its organisational arm the Real Estate Regulatory Agency (RERA). Moreover, these agreements provided DEC with access to current and updated data and information, in addition to the opportunity to consult with those departments about ways to develop the various indicators in the near future.
DEC initiated this series as per its vision to be the strategic partner for the Government of Dubai in economic policy-making through advising the Government on innovative economic strategies and advocate sound economic policies that promote prosperous business environments, as well as to enhance Dubai's competitiveness in the world economy. DEC is also mandated to spread awareness in the business community about the latest developments in the local economy.
This initiative embodies Dubai Government's vision in establishing the concept of integration among various government departments in the UAE both at the local and federal levels, in addition to promoting the concept of partnership with representatives of the business community to benefit the national economy.