May 31--The composition of Dubai's economy will undergo a structural shift over the next few years toward sustainable long-term sectors such as transportation, healthcare, education, tourism and financial services, Dr Omar Bin Sulaiman, Governor of the Dubai International Financial Centre (DIFC), told members of the Dubai Chamber of Commerce & Industry on Thursday.

"This shift in the relative importance of various sectors of the economy is, in fact, a central component of the Dubai Strategic Plan 2015, but it's happening more quickly than envisioned by the plan, largely due to the impact of the global crisis," said Bin Sulaiman during the Dubai Chamber's quarterly Business Breakfast, its second of 2009.

"Additionally, because many of these sectors impact residents' quality of life, the shift currently underway will further enhance Dubai as a place to live, especially alongside the government's continued support of culture and the arts," Bin Sulaiman told the participants.

At the same time, high-growth industries such as real estate will continue to be integral to the make-up of Dubai's economy, he said.

The networking event is part of the Dubai Chamber's active support and promotion of the interests of the emirate's business community, as well as the Dubai Government's policy of dialogue and engagement with the private sector. "This event aims at facilitating direct communication between public and private sectors where our members are presented with an opportunity to put forward issues and challenges that they face before the concerned officials." Stated HE Hamad Buamim, Director General of Dubai Chamber of Commerce & Industry, during his presentation on the latest developments witnessed by Dubai business community.

Buamim stated that Dubai's Economy is witnessing the first signs of recovery and investors are showing more confidence. "According to the latest findings and figures profit rates in the banking sector has only dropped by 4%, while assets increased by 2%. Passenger traffic recorded by Dubai International Airport increased by 6.5% in April, and it is expected that this number reaches 10% in 2009, in a strong indication that Dubai is still a favored business and tourist destination, and it is ranked as the top FDI destination city in the World by the FT report" stated Buamim, while highlighting other equally significant growth rates recorded by the tourism and hospitality industry, electricity and water demand, in addition to Dubai's recent population growth by 8%.