Dubai: The retail sector is expected to grow by 5.5 per cent per annum until 2015, Sami Al Qamzi, Director General of the Department of Economic Development in Dubai (DED), said on Wednesday.
He added that the sector’s direct contribution to Dubai’s Gross Domestic Production (GDP) accounted for 12 per cent or Dh15 billion in the last 10 years.
The retail sector has played an important role in Dubai’s economic development. The future prospects are quite promising with growth of the retail value-add forecast to exceed 5.5 per cent annually over 2012-2015,” Al Qamzi
l Qamzi was speaking at the launching of Dubai World Conference on Consumer Rights and Power Brands Exhibition on the need to strengthen the concept of partnership between the government and the private sector.
Through this initiative we seek to reinforce the trust and loyalty of consumers, promote the retail sector in line with international best practices in consumer rights protection, and ultimately provide a competitive retail environment that will strengthen Dubai’s position as one of the best shopping destinations in the world,” said Al Qamzi.
“The conference will play a vital role in boosting retail sector performance and in enhancing economic growth through adopting appropriate policies and regulations, and identify those sectors witnessing strategic growth,” he said.
DED is working to provide the best solutions and services to traders and investors locally and globally, thus enhancing trade flows and the ease of doing business in the emirate,”
he conference will be held on April 1-3 at the Dubai World Trade Centre and is supported by the Dubai Refreshment Company and Al Fajer Information and Services.
mar Bushahab, CEO of Commercial Compliance and Consumer Protection Division (CCCP) at the DED, remarked that the consumer rights conference and brands exhibition will bring together views from various sectors and encourage best practices in commercial activities, especially transparency in the buying and selling processes, thus safeguarding the rights of all consumers, traders and trademark owners.
CCCP will continue to launch such initiatives of the highest international standards, and provide specialised services to support the business community and the retail sector, which is a cornerstone of the emirate’s economy.”
atish Khanna, General Manager, Al Fajer Information & Services, said: “We have designed the conference and exhibition as a tribute to the intelligence of consumers in the Mena region and to help them make informed decisions by bringing them face to face with leading brands, as well as throw light on key consumer issues.”