By LEONG SHEN-LI | Jan 20, 2010
UAE will ride out the downturn soon, firms told
ABU DHABI: Malaysian companies need not worry about the economic situation in the United Arab Emirates as it will ride out the downturn soon, Datuk Seri Najib Tun Razak said.
The prime minister said most projects with Malaysian involvement were still proceeding without any problems.
“I am sure Dubai will be able to ride out the current downturn quickly, especially because of its relationship with Abu Dhabi,” he told the Malaysian media at the conclusion of his visit here yesterday.
He said Abu Dhabi, which together with Dubai and five other emirates form the UAE, was resource-rich and largely unaffected by any downturn.
Late last year, Abu Dhabi made available US$10bil (RM33bil) in funds to help Dubai repay some of the money borrowed for its breakneck-speed development.
Najib said Malaysian companies had been given a lot of business opportunities in the UAE, as they had a good reputation for their good quality work and ability to deliver on time.
For example, Najib said, a Malaysian company was currently bidding for the maintenance contract for the Burj Khalifah, the world’s tallest building.
“If the company is successful, it is going to be a very significant achievement for Malaysia,” he said, adding that the company had the experience in maintaining tall buildings from their job with the Petronas Twin Towers.
He was given a tour of the 828m-high building with more than 160 floors on Monday evening during a day visit to Dubai.
Najib said new opportunities were also opening up with the move to develop Abu Dhabi’s Western Region.
He also paid a visit to the Abu Dhabi Ruler’s Representative of the Region, Sheikh Hamdan Zayed Al Nahyan yesterday.
Related story:
|