Oil slump has no impact on UAE economy, minister says
While the current slump in the world oil prices has posed a real challenge to oil-exporting countries, it did not have any impact on the UAE’s economy, thanks to the economic diversification policy adopted by the country, Suhail Mohammad Faraj Al Mazroui, Minister of Energy, said yesterday. “Low oil prices should create investment opportunities in non-oil sectors for the purpose of diversifying the economy,” the minister said as he chaired the delegation to the second UAE-Russia Taskforce Meeting. (Gulf News)
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