Via Gulf News
By Suzanne Fenton, Staff Reporter
Dubai: Senior officials have said Dubai must focus more on capital-intensive business practices rather than depend on foreign labour in order to become more competitive in global markets.
Dubai was ranked 16th out of 65 global economies in the National Competitiveness Report for 2009 – the first time the emirate has featured in the eight-year-old report.
The report is published annually by the Institute for Industrial Policy Studies at Seoul National University.
Hani Al Hamli, secretary-general of the Dubai Economic Council, said that in a changing world, countries were competing in various sectors to benefit from globalised markets.
“From there arises the role of the Dubai Competitiveness Council & that aims to enhance Dubai’s competitiveness in global markets through enhancing local economic growth.