Mishal Hamed Kanoo

“The Gulf region has seen many of what would have been fatal economic jolts to the system and yet has still been able to ride them out. This is a result of a couple of factors: the ruler’s ability to adapt and change with the situation, and the ability of businesses to also look past whatever situation they are presently encountering with an eye on the future. In the early 2000s, the world experienced financial turmoil with the massive correction in the dot-com bubble. But Dubai took the lead by saying we are now opening our lands to foreigners to buy into. This fear that the world was experiencing was countered with an optimism that we, in the Gulf and specifically Dubai, are looking forward to a better future and want others to share in it. Another example is after September 11, 2001, when the whole world was panicking over what was going to happen and the financial world went into meltdown. It was the government of Dubai, through HH Sheikh Ahmed bin Saeed, as the chairman and CEO of Emirates Group, that bravely went to Seattle and placed the first major order for Boeing since the event, signalling Dubai’s belief in a brighter future.

The challenge we will face in the region is whether we can create a real union between the countries of the region to facilitate the creation of a bigger market to compete with others around us.”