UAE Business Leaders Forecast 4% GDP Growth Amid Trade Expansion

Leaders across the UAE private sector have released formal statements detailing the country’s economic trajectory and the role of corporate entities in national development for 2024. The collective addresses focus on private-public integration and the diversification of the non-oil economy, which grew by 5.9% in the first nine months of 2023. Corporate Integration and Economic Growth Executives from major conglomerates, including DP World, Al-Futtaim Group, and Sobha Realty, highlighted the stability of the UAE’s regulatory environment. These business leaders noted that the implementation of Comprehensive Economic Partnership Agreements (CEPAs) has expanded market access to major economies like India, Indonesia, and Turkey. This trade expansion serves as the primary driver for a projected GDP growth of over 4% in 2024 according to Central Bank data. Infrastructure and Urban Development The business community also verified continued investment in large-scale infrastructure projects. Real estate and construction leaders confirmed that the 2040 Urban Master Plan remains the central framework for development in Dubai, while Abu Dhabi continues its expansion of the chemicals and…