IMF: Government companies play important role in UAE growth
“The IMF has stated that state-owned companies play a critical role in the UAE’s economic growth, particularly providing more jobs, facilitating income redistribution to citizens, as well as protecting strategic assets.”
The Fund issued a study on state-owned companies in the Middle East, North Africa and Central Asia, which addressed their size in the region, the roles they play in national economies, as well as the challenges they face and dedicated space to state-owned companies in the UAE. It said that the government of Dubai owns several companies that are among the largest in the world, including Emirates Airlines and Dubai Ports World.
The study added that government companies in the UAE, along with a few other countries in the region, are distinguished from other government companies in the region because they enjoy a high level of professionalism in addition to standard standards of corporate governance.
The IMF said that these advantages qualified UAE government companies to be important players in the global market, not just regional players.
The study also discussed the importance of government companies in the UAE and the role it play in implementing state policy, for example in facilitating the government’s response to the pandemic and its consequences, noting that the UAE government used the two carriers, Emirates Airlines and Etihad Airways, in transporting supplies and supplies, as well as in repatriating citizens after the outbreak of Covid-19 early last year.
