UAE President dismisses rumors and discusses economic outlook in media interview

His Highness the President of the UAE has also openly clarified different dimensions of the crisis’s impact on the UAE economy. Despite all that, some people in the media have continued to weave rumors and negative speculation into their articles. We welcome all media from around the globe and we have never silenced any resident or visiting reporters or stopped them from doing their job. We shall continue to do the same because of our confidence in ourselves, our economy and our measures -- and because we always believe deep in our hearts that truth prevails. Yet our self-confidence does not stop us from dialogue with the media to offer them straightforward information. We urge them to adhere to professional integrity, objectivity, and fair scrutiny and use of information. Emirates Business 24/7 There has been some contraction in business volumes in the UAE over the last few months. The harshest effect of this seems to have been on small and medium-sized enterprises. Is there any plan to revitalize the small business sector, which is usually co nsidered the growth engine of an economy? We are fully aware of the vital role of the small and medium enterprises sector; I believe that the contraction it has suffered is only temporary. Our success in overcoming the worst will positively reflect on the overall economy, including major enterprises as well as small and medium-sized ones. Our position is far better than other countries, and encouraging economic indicators have just started to emerge. Enhanced liquidity levels across the banking sector, banks’ resumption of credit operations, increased number of investors eager to seize investment opportunities in the real estate sector and financial markets, are among many other positive and encouraging indicators. Emirates Business 24/7 The region is clearly looking at nuclear energy as means to meet its energy needs in the future. What is your view on the proliferation of nuclear technology in the Middle East? The UAE’s announced stance is very clear: All countries have the right to use nuclear power for peaceful purposes. We look forward for the day when the entire Middle East region will be declared free of all nuclear and mass-destruction weapons. By Ali Mutalq Al-Quhais Al-Shammari - AlReyadh Newspaper What comments do, Your Highness have about the rumors that Your Highness had a health problem lately? We pray God that the rumors were base less, and that He may grant Your Highness good health, long life and happiness to make Your Highness a model to be followed in the region. I thank God that I am well and in the best of health and peace of mind and soul. The rumors about me are a part of the psychological war that was waged on Dubai in recent months. Rumors have never targeted unsuccessful, backward or marginal people. I personally pay no attention to rumors, as I know they are short -lived. When people find out the facts, they respect and appreciate you more; their good feelings toward you grow, and the rumor-mongers diminish in their eyes. In fact the last few months I have participated in 4 endurance races where I was able to race for more than 120km in each. By Ali Mutalq Al-Quhais Al-Shammari - AlReyadh Newspaper By the end of the first quarter of 2009, what is your evaluation of the economic HOUSE_OVERSIGHT_024955