Mohammed's statement in 'The Business Year: Dubai 2012' report

In his statement published in the 'The Business Year: Dubai 2012' report, ​UAE Vice President, Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has reiterated that the UAE is equally committed to building a sustainable environment while supporting economic growth.

The following is the statement by Sheikh Mohammed bin Rashid:

Dubai and the UAE sit at the intersection of one of the most transformative moments in geo-economic history.

The future always surprises us. We cannot predict it, but we do have a responsibility to look ahead and trace its outlines, as well as the opportunities and challenges it will present.

In 2050, our young nation, the United Arab Emirates, will be almost exactly twice as old as it is today. Forty years of foresight and strenuous hard work by our people and our country have led to our achievements and laid the foundations for our global position today and a prosperous future.

Dubai and the UAE sit at the intersection of one of the most transformative moments in geo-economic history in more than a century: the gradual but inevitable shift of the economic center of gravity from the West to emerging markets and the rise of new trade markets.

Between now and 2050, emerging markets will be the main engine of global economic growth. In this new world, trade flows will be infinitely more connected than ever before, and goods, services, and people more mobile than at any time in the past.

Here in Dubai and the UAE, we see these trends as positive. While we recognise the profound importance of safeguarding our identity and traditions-keeping sight of who we are and where we come from - we embrace the possibilities the future presents for our people, our city, and our country.

Standing at the centre of trade between the Middle East and Asia linking Latin America, Africa, and beyond, Dubai is shaping and catalysing this new world of trade and investment flows.

Trade is important, of course, but we also recognise the importance and resilience of a knowledge-based economy as a key driver of sustainable growth and opportunities.

We continue to invest not just in hard infrastructure but also in soft infrastructure; our education, our healthcare, and a culture that promotes the research and development of new ideas.

Based on our vision of the new world, we are equally committed to building a sustainable environment that supports the growth of our economy.

Our Green Economy Initiative announced earlier this year reaffirms our commitment to diversify energy sources and preserve the environment whilst strengthening our competitive position. Through this initiative, we aim to become a world-leading centre for the export and re-export of green products and technologies.

While there are many routes to success, here in Dubai, we are seizing the economic, cultural, and scientific opportunities represented by the future, forging new connections, and positioning Dubai for growth across this decade and the ones that follow.