DUBAI, 25 November 2004 — Dubai is to build another massive investment project designed to diversify the economy of the United Arab Emirates, an official said yesterday.
“Dubai Industrial City will be built near Jebel Ali port across 52 sq. km. and is destined to attract entrepreneurs and investors from all over the world,” said Muhammad Al-Gergawi, director of the Dubai Development and Investment Authority.
“Building this city is part of strategic plans by the United Arab Emirates to diversify its economy and drive non-oil sectors, such as tourism, commerce and industry,” he added.
Dubai is striving to turn itself into a regional business center and a prime tourist magnet in order to alleviate the economic impact of diminishing oil supplies.
