IMF stresses important role of government companies in UAE growth
State-owned companies are playing a crucial role in the UAE’s economic growth, especially in terms of creating more jobs, facilitating the redistribution of income among citizens and protecting strategic assets, the International Monetary Fund said.
According to a study issued by the IMF on UAE affiliates in the Middle East, North Africa and Central Asia, which addressed their size in the region, their roles in national economies, as well as the challenges they face and dedicated space for state-owned companies in the UAE, the government of Dubai has several of the largest companies in the world, including Emirates Airlines and Dubai World Ports.
Government companies in the UAE, along with a few other countries in the region, are distinguished from other government companies in the region, according to the study, because they enjoy a high level of professionalism in addition to standard standards for 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 addressed the importance of government companies in the UAE and the role they 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 to transport supplies and supplies and also to bring citizens back to the country after the outbreak of Covid-19 early last year.
