Dubai World debt plan moving in right direction
The crisis hit Dubai World has been heading for completing its restructuring plans worth $26 billion debt according to Sheikh Ahmad Bin Saeed Al Maktoum, the Chairman of the Dubai Supreme Fiscal Committee. He said that soon a positive outcome is coming that will help to reinstate investors confidence that was lost due to Dubai World's failure to meet its financial obligations.
He declined to further divulge the matter given to its financial importance. He said that Dubai would soon achieve its past glories and achieve new heights of growth after completing the restructuring process.
Sheikh Ahmad asked for the need to pay more attention in the areas of tourism, re-export business and logistic and financial services. He assured creditors and investors for bearing long term relations with Dubai for being a part of the growth of the second-biggest of the United Arab Emirates' seven sheikhdoms.
New Zealand News
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