UAE on a sustainable growth path, Standard Chartered Group CEO says | GulfNews.com:
"The UAE economy is growing at very healthy pace with the overall outlook very positive for sustainable growth over a long period, Peter Sands, group chief executive of Standard Chartered, told Gulf News in an interview.
“In the UAE in general and Dubai in particular, the business mood is very positive and the flow of economic data we see is very encouraging,” Sands said, adding: “Middle East is one of Standard Chartered’s top five global markets and the UAE accounts for a large chunk of our business in the region.”
With leading emerging markets where it operates facing economic slowdown and relatively modest growth in the US and nascent recovery in Europe, Sands expects opportunities in the Middle East and Africa to be the major driver of the bank’s global business growth.
“With already high investments supporting economic growth and more to come as part of Expo 2020, the UAE and Dubai is certainly on a sustainable growth path and what everyone wants is that businesses don’t get over-exuberant and then face a correction,” Sands said."
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