original source 7Days
Dubai Ruler tells critics to ‘do their homework’ as he stresses unity and confidence in the future
The Ruler of Dubai has told the emirate’s critics to ‘shut up’.
HH Sheikh Mohammed bin Rashid Al Maktoum yesterday broke away from a pre-prepared speech in Arabic on the Dubai economy to make his point in English.
His remark was directed at people who have tried to suggest there is a wedge between the emirates of Dubai and Abu Dhabi after Dubai drew a $10 billion emergency loan from the UAE central bank.
But Sheikh Mohammed said these people “should really do their homework” about his country.
“I just want to tell these people who nag about Dubai and Abu Dhabi to shut up,” he told the MENA and Frontiers Conference in Dubai, organised by Bank of America Merrill Lynch.
Sheikh Mohammed, who is also the prime minister and vice president of the UAE, stressed the close ties between Dubai and Abu Dhabi.
“Dubai and Abu Dhabi are one,” he said, adding: “I assure you that we’ll be there for each other when we need it.”
The comments were clearly aimed at dispelling perceptions of a rivalry between the two emirates.
There have been accusations around the globe that Abu Dhabi has become jealous of Dubai’s success in recent years as it tries to diversify its economy away from a dependence on oil.
But yesterday, in rare public comments on the subject, Sheikh Mohammed stressed the tribal bonds and blood relations between the emirates’ rulers.
“We, our fathers, grandfathers have fought for the Arabian Peninsula,” Sheikh Mohammed said. “We are very, very proud of our country, very proud of our people… And our people (are) very proud of us.”
The ruler also confronted critics who say Dubai was slow to react to the global financial crisis.
He said the government “preferred to wait rather than rushing” so it could restructure state-owned companies. And Sheikh Mohammed said he
was confident the worst of the crisis was over.
“As the global economy stabilises, Dubai today is well placed to exploit its inherent strength,” he said.
“The slowdown will never dampen the mettle of children of Dubai to steam forward in the drive toward development,’’ he added.
Dubai faces a debt of about $80 billion. As well as the $10 billion loan, it expects to raise an additional $10 billion in financing before the end of the year.
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