2020 World Expo a Mid-East first

The Star Early Edition - - BUSINESS REPORT -

DUBAI’S World Expo 2020 plans to award 47 con­struc­tion con­tracts val­ued at 11 bil­lion dirhams (R40.21bn) this year, pro­vid­ing an eco­nomic boost for the United Arab Emi­rates even as oil prices re­main low. The con­tracts, which are open to both lo­cal and for­eign com­pa­nies, are part of the third and fi­nal in­fras­truc­ture pack­age for the event, Dubai Expo 2020 said yes­ter­day. An­other 98 non-con­struc­tion or­ders worth as much as 360 mil­lion dirhams would be awarded. Dubai’s econ­omy is ex­pected to ex­pand 3.1 per­cent this year, fol­low­ing growth of 2.7 per­cent in real terms in 2016, Sheikh Ahmed Bin Saeed Al Mak­toum, chair­man of the emi­rate’s Eco­nomic De­vel­op­ment Com­mit­tee, said ear­lier this month. The global trade fair will be the first in the Mid­dle East. – Bloomberg

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