GOVERNMENT MINISTRIES

Diwan of the President of the U.A.E. & Ruler of Abu Dhabi

                Tel: 665 2000 - PO Box 280 Abu Dhabi

Court of H.H. The Vice President, Prime Minister of the UAE & Ruler of Dubai

                Tel: 353 4550 PO Box 12848 Dubai

Court of H.H. The Crown Prince of Abu Dhabi

                Tel: 665 1200 PO Box 124 Abu Dhabi

Deputy Prime Minister’s Office

                Tel: 445 1000, Fax: 446 5688 - PO Box 831 Abu Dhabi

Federal National Council

                Tel: 681 2000, Fax: 681 2846 - PO Box 836 Abu Dhabi

                Tel: 324 4400 Fax: 324 3471 - PO Box 47 Dubai

Ministry of Agriculture & Fisheries

                Tel: 666 2781, Fax: 665 4787 - PO Box 213 Abu Dhabi

                Tel: 295 8161, Fax: 295 7766 - PO Box 1509 Dubai

Ministry of Communications

                Tel: 691 1111, Fax: 666 4422 - PO Box 900 Abu Dhabi

                Tel: 295 3330, Fax: 295 3334 - PO Box 1131 Dubai

Ministry of Economy & Commerce

                Tel: 626 5000, Fax: 626 0000 - PO Box 901 Abu Dhabi

                Tel: 295 4000, Fax: 295 1991 - PO Box 3625 Dubai

Ministry of Education and Youth

                Tel: 621 3800, Fax: 635 1164 - PO Box 295 Abu Dhabi

                Tel: 299 4100  -  PO Box 3962 Dubai

Ministry of Energy

                Tel: 612 6500, Fax: 626 9738 - PO Box 629 Abu Dhabi

                Tel: 294 5555, Fax: 294 5005 - PO Box 99979 Dubai

Ministry of Finance & Industry

                Tel: 672 6000, Fax: 666 3088 - PO Box 433, Abu Dhabi

                Tel: 393 9000, Fax: 393 9738 - PO Box 1565 Dubai

Ministry of Foreign Affairs

                Tel: 444 4488, Fax: 444 9200 - PO Box 1 Abu Dhabi

                Tel: 222 1144, Fax: 228 0979

                PO Box 3785 Dubai

Ministry of Health

                Tel: 633 0000, Fax: 621 5422 - PO Box 848 Abu Dhabi

                Tel: 396 6000, Fax: 396 5666 - PO Box 1853 Dubai

Ministry of Higher Education & Scientific Research

                Tel: 642 8000 Fax: 642 7701 - PO Box 45253 Abu Dhabi

Ministry of Information & Culture

                Tel: 445 3000, Fax: 445 2504 - PO Box 17 Abu Dhabi

                Tel: 261 5500, Fax: 261 5648 - PO Box 5053 Dubai

Ministry of Interior

                Tel: 441 4666, Fax: 441 4897 - PO Box 398 Abu Dhabi

                Tel: 398 0000, Fax: 398 1119 - PO Box 4333 Dubai

Ministry of Justice, Islamic Affairs & Endowments

                Tel: 627 2200, Fax: 636 0195 - PO Box 2272 Abu Dhabi

                Tel: 227 4444, Fax: 227 3331 - PO Box 7093 Dubai

Ministry of Labour & Social Affairs

                Tel: 667 1700, Fax: 666 5887 - PO Box 809 Abu Dhabi

                Tel: 269 1666, Fax: 262 4529 - PO Box 4409 Dubai

Ministry of Petroleum & Mineral Resources

                Tel: 667 1999, Fax: 666 3414 - PO Box 59 Abu Dhabi

Ministry of Planning

                Tel: 627 1100, Fax: 626 5000 - PO Box 904 Abu Dhabi

                Tel: 295 4000 Fax: 295 1991 - PO Box 3825 Dubai

Ministry of Public Works & Housing

                Tel: 626 0026  Fax: 666 5598 - PO Box 878 Abu Dhabi

                Tel: 212 5544, Fax: 261 0001 - PO Box 1828 Dubai

Ministry of State for Cabinet Affairs

                Tel: 681 1113, Fax: 681 2288 - PO Box 899 Abu Dhabi

                Tel: 396 7555, Fax: 397 8688 - PO Box 5002 Dubai

Ministry of State for Supreme Council Affairs

                Tel: 626 3222, Fax: 626 4555 - PO Box 545 Abu Dhabi

ECONOMIC PERFORMANCE

SETTING POSITIVE TRENDS FOR THE REGION
An outward-oriented development strategy and prudent financial policies have resulted in impressive economic growth over the years and have led to a large accumulation of external financial assets. This success has been underpinned by Abu Dhabi’s prudent management of its oil wealth and Dubai’s strong push for economic diversification. All indications are that the liberal economic policies followed thus far will be broadened and accelerated in the period ahead.

Economic Growth
Economic growth has been impressive, reflecting sharply higher oil prices, increased oil production, strong investor confidence, and a significant increase in foreign direct investment. Preliminary data for 2005 indicate that real nonhydrocarbon GDP grew at 11 percent, while the hydrocarbon sector registered a growth rate of 2.1 percent. Growth was broad-based with most sub-sectors growing at historically high rates, especially in manufacturing, real estate and construction, and trade. However, inflation has been on the rise, driven by the strength of domestic demand, a hike in gasoline prices and a significant increase in the prices of non-tradables such as rents and services. Both the external current account and overall consolidated fiscal balances are estimated to have recorded large surpluses in 2005 (14.7 percent and 26.9 percent of GDP, respectively). The nonhydrocarbon deficit (excluding investment income) narrowed by 1.7 percentage points of GDP, to 17.3 percent. The broad money stock rose by 34 percent, mainly on account of a rapid increase in private sector credit.

In 2005, Abu Dhabi’s budget improved markedly owing to high oil prices and moderate expenditure increases. The two other key emirates, Dubai and Sharjah, maintained their policy of executing budgets that are largely in balance.

The equity markets, after having risen significantly since 2004, have had a sharp correction since their peaks in November 2005. The sharp corrections in the U.A.E. bourses were due to market overvaluation and the liquidation of existing positions to fund subscriptions for Initial Public Offerings (IPOs). The high demand for IPOs was in turn the result of a policy of underpricing them. The banking sector in the U.A.E. remains strong, bolstered by effective supervision, but the fast growing capital markets and nonbank financial institutions pose new regulatory challenges. The U.A.E. authorities, are taking steps to continue to strengthen supervision of capital markets and nonbank financial institutions. Also, considerable progress has been made with respect to the regulatory framework governing the Dubai International Financial Center and an extensive set of laws have been enacted, benchmarked to best international practices.

The major emirates (Abu Dhabi, Dubai, and Sharjah) are capitalizing on the favorable economic environment to carry out reforms that will foster more private sector participation and further diversify the economy. Dubai passed a property law which allows 100 percent foreign ownership of properties in pre-designated areas, while working with the private sector to provide infrastructure and other services that are traditionally provided and financed by the public sector. Sharjah established a number of industrial free zones and also benefited from attracting new small and medium-sized enterprises that are rapidly expanding. Abu Dhabi has embraced utility privatization and rationalized its fiscal policy through outsourcing of public expenditure.

Key government entities (such as the Abu Dhabi National Oil Company, Dubai Ports Authority, and Dubai Aluminum Company) have massive investment plans to further increase the capacity of upstream activities in the petrochemicals sector, infrastructure in airports and ports, and new manufacturing plants in the metals sector.