03-17-2009, 05:55 PM
Dears,
Spending, consuming and investing are major stimulants of generation of economic activity.
The issues discussed by CFANerd included a point that construction was vigorously made and facilities were largely given for attracting foreign investment and foreigners. However, all such investment was revolving around trading, construction, housing and financial activities and there had been no development of sustainable infrastructure, main industries, downstream supporting industries and cottage industries.
This made the region dependent upon foreigners and their activities i.e. upon investors and consumers who were non-owned residents. The evacuation of such non-residents was logically supposed to create the economic gap and large un-employment. The conclusion he wanted to make was, the Duabi's economy was not self reliant and government did not bother to make it self reliant.
Regards,
KAMRAN.
