50 years is not a long phase in the history of any country. But, within 50 years the landscape of UAE has changed tremendously. The country has become a beacon of hope for the entire Middle East … writes Kaliph Anaz
The United Arab Emirates is no more a tiny trade hub in the Arabian coast. Within 50 years, the UAE has become a reckoning force in global trade, tourism, technology and economy. The unity of the seven emirates and the wise leadership put UAE into the high table of global affairs. On December 2, 2021, the country celebrates its milestone golden jubilee, marking 50 years since the UAE were formally united on the same day in 1971.
To mark the monumental day, UAE President Sheikh Khalifa bin Zayed Al Nahyan has declared 2021 ‘Year of the 50th’.
“Year of the 50th’ is an opportunity to contemplate the achievements made over 50 years at a time we are gearing up for the next journey,” said President HH Sheikh Khalifa. “We are living in a rapidly changing world. Amid this change, there are opportunities up for grabs to drive innovation and creativity. Therefore, we’ll have to double efforts to generate novel ideas, and quality initiatives to preserve our heritage and values and protect the cultural diversity of our society. As such, these initiatives should contribute to creating a better tomorrow with a brighter future for our nation.”
50 years is not a long phase in the history of any country. But, within 50 years the landscape of UAE has changed tremendously. The country has become a beacon of hope for the entire Middle East. Expo 2020, the Hope Mission to Mars, the Abraham Accords, Madar, the world’s first sustainable city, world-class nuclear reactors at Barakah … the list of achievements UAE gained within five decades of existence is finest example for others to emulate.
The UAE leadership’s dedication to the communities and their commitment to deliver good governance created a modern country where citizens from 200 plus countries living peacefully. The expansion of the economy is the major achievement. Despite the Covid onslaught, the country is still attaining its targets. While the growth estimate for this year is slightly lower than the 2.4 per cent projected in June, the Arab world’s second-largest economy is set grow at the much faster rate of 4.2 per cent in 2022, higher than an earlier 3.8 per cent forecast.
The central bank maintained its real non-oil growth – adjusted for inflation – at 3.8 per cent for 2021. It is expected to improve slightly to 3.9 per cent next year.
The faster pace of growth anticipated next year is the result of the continued increase in public spending, banks’ credit outlook, higher employment and better business sentiment, as Dubai World Expo will continue to take place in Q1 2022. Being a major tourism, transit and trade hub in the region, the UAE is also expected to benefit from the opening of travel restrictions and events such the Fifa World Cup.”
The Emirates has introduced economic stimulus worth Dh388 billion ($105.72bn) since the pandemic tipped the world economy into its worst recession since the 1930s. These packages include the central bank’s Dh50bn Targeted Economic Support Scheme (Tess) to boost liquidity in the financial and banking sector, parts of which have been extended to June 2022.
The Golden Jubilee of the country will open a new chapter for the UAE to embark on its vision derived by its wise leadership.
“The United Arab Emirates owes a great debt of gratitude to the perseverance, wisdom, and forward vision of its founding fathers, who in those early days invested all their efforts and took careful stock of their resources in order to chart the path that has shaped our great nation,” said HH Sheikh Mohammed Bin Rashid Al Maktoum. “In this quest they rose to the challenge of building a modern and progressive nation, in order that the Emirati people may share in the fruits of their common development. The UAE can count many impressive accomplishments since its inception, and now stands among the most advanced nations in the world. Emiratis have reaped many benefits from this remarkable pace of development while also preserving the fabric of their society, the essence of their way of life and the strength of their culture.”
The UAE is on track to achieve its next set of goals. Congratulations and Happy National Day greetings to all readers of Asian Lite
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