SHORT SUMARY
LET All of the known Dubai is the one of the richest city in the world. Dubai is surrounded by full of desert and has no resources but who he become rich?. Many of people think Dubai has become rich by oil resources but it's not right. Let's see the reason!!!.
Dubai is one of the parts of the United Arab Emirates. UAE consists of 7 Emirates. Dubai is not a country, it is a city. It is located on the Persian Gulf Coast of the United Arab Emirates and the border of Oman and Saudi Arabia.
In last 20 decades Dubai has become the richest city in the world. But Dubai has no natural resources of food, gold, minerals, or water. But they have the biggest mall, tallest building and underwater train, underwater tennis court and lots of gold market . Who is this possible?. Yes this was possible by one man the ruler of Dubai sheik Rashid bin saeed al mktouksoon. His strategy makes Dubai rich
.What are the strategy he follows? Let us see many of the people in the world think Dubai become rich by oil resources this not right. Oil resources of Dubai was 1 percent of GDP Dubai economy. Over 50 millions of years ago Dubai discovered the oil resources. In the 1930s Abu Dhabi began to discover rich oil resources but neighbouring countries fail to find any. And this time the gulf country has depend on the pearl industry for income. Suddenly the pearl industry sharply declined and tension started escalating between Abudhabi and Dubai between border disputes . In 1947 border dispute leads to armed conflict . But British intervention has solve to problem but Dubai not take care for that many people's face death in the depression. So many people on Dubai has replaced to another gulf region.
It was clear that Dubai needs something to change. Dubai sheik Rashid bin saeed al mktouksoon has become a ruler of Dubai . To do this Dubai raised money from two resources . First the state martine trading activity. Second Dubai ruler Mr. Sheik spent big loans for trading activity . He spent the money establishing private activity for electricity, telephone lines , and the first airport. The British government helped down for all the activity for infrastructure . And Mr. Sheik announced that one good news and bad news. The good news is we have discovered the oil resources. The bad news is not much more. Instead oil was used to fund Sheikh Rashid's existing strategy.
.The strategy was converting oil based economy into trade, tourism and financial based economy . Sheikh Rashid's strategy is very good so far. Dubai's main cargo port is Jebel Ali port in the Middle East and arguably is the busiest port in east Asia the most valuable asset of the Emirates . This port is so successful because it is located inside the jabel's ali economic free zone also known as jaffa. Jafza is the world largest economic free zone. Other jafza there 20 more economic free zone.
ALSO READ