Tuesday, 02 January 2024 12:17 GMT

How The UAE Defies Crises: From Financial Shocks To Iran's Missile Attacks


(MENAFN- Khaleej Times) {"component":"Story","props":{"story_slug":"defying-crises-from-financial-shock-to-ira-attacks","story_data":{"id":"023f7695-d95f-4d9e-99ed-2cbaf028f847","headline":"How the UAE defies crises: From financial shocks to Iran's missile attacks","wordcount":606,"seo":{"meta_description":"Why people shouldn\u2019t bet against the UAE: A top UAE diplomat hits back, highlighting the nation's resilience and success despite regional turmoil, attacks","meta_title":"How the UAE defies crises: From financial shocks to Iran's missile attacks","meta_keywords":[],"claim_reviews":{"story":null}},"author_name":"Sahim Salim","tags":[],"cache_tags":["s\/7383\/023f7695","a\/7383\/2173927"],"story_content_id":"023f7695-d95f-4d9e-99ed-2cbaf028f847","slug":"uae\/defying-crises-from-financial-shock-to-ira-attacks","linked_stories":{"1f053d81-76d4-4f2a-9c11-b255f95ef75c":{"author_name":"Ruqayya Al Qaydi","headline":"\u2018We will never be blackmailed by terrorists\u2019: UAE minister hits back at criticism over US ties","story_content_id":"1f053d81-76d4-4f2a-9c11-b255f95ef75c","slug":"uae\/sheikh-abdullah-hits-back-at-criticism-over-uae-us-ties","sections":[{"domain_slug":"","slug":"uae","name":"UAE","section_url":"https:\/\/\/uae","id":85786,"parent_id":0,"display_name":"UAE News","collection":{"slug":"uae","name":"UAE","id":195297},"data":{}}],"hero_image_metadata":{"width":1200,"height":770,"mime_type":"","file_size":0,"file_name":"","focus_point":[600,385]},"hero_image_s3_key":"khaleejtimes\/import\/images\/971528a3-9f5b-4fb3-9349-2ce495942fff-org.jpg","url":"https:\/\/\/uae\/sheikh-abdullah-hits-back-at-criticism-over-uae-us-ties","content_updated_at":1774254186139,"author_id":2173926,"first_published_at":1774254185951,"authors":[{"id":2173926,"name":"Ruqayya Al Qaydi","slug":"ruqayya-al-qaydi","avatar_url":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2025-09-03\/frni9pw8\/R.jpg","avatar_s3_key":"khaleejtimes-english\/2025-09-03\/frni9pw8\/R.jpg","twitter_handle":"","bio":"Ruqayya Alqaydi is a Special Correspondent with an endless curiosity to learn. 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File<\/p><\/div>","hero_image_alt_text":"","hero_image_S3_key":"khaleejtimes\/import\/images\/LQ3jbLqMxL4jtm6-QTTyO0uMe8M.jpg","cards":[{"story_elements":[{"id":"e7516507-3c9f-443d-b87f-ac41efd16660","type":"text","family_id":"2a186c27-b52b-470c-9750-b218bf608a8a","page_url":"\/story\/023f7695-d95f-4d9e-99ed-2cbaf028f847\/element\/e7516507-3c9f-443d-b87f-ac41efd16660","title":"","description":"","metadata":{},"subtype":"","text":"

Betting against the UAE is a losing wager, a senior UAE diplomat has said, citing the country\u2019s consistent ability to defy scepticism and deliver on its ambitions over the past two decades.<\/p>

 \u201cAs the UAE navigates one of the hardest moments in its history, it will emerge victorious amidst a complex regional and global landscape. Iran\u2019s egregious drone and missile attacks<\/a> on the UAE\u2019s civilian infrastructure since February 28 have been met with an interception rate exceeding 90 per cent, proving that even when attacked, the UAE\u2019s defensive capabilities stand strong,\u201d said Dr Mohammed Ibrahim Al Dhaheri, Deputy Director General of the Anwar Gargash Diplomatic Academy (AGDA), in remarks to Khaleej Times.<\/p>

Stay up to date with the latest news. Follow KT on WhatsApp Channels.<\/a><\/strong><\/p>

As of March 23, the UAE has dealt with 1,789 drones, 15 cruise missiles and 352 ballistic missiles launched from Iran. Dr Al Dhaheri said the country\u2019s response to current developments reflects a pattern shaped by previous crises, noting that resilience in the UAE has been tested more than once.<\/p>"},{"id":"b98b7b84-08c5-48cb-9cee-84af2311afb9","type":"image","family_id":"ec3a4497-9746-4d9b-b678-28966a6fca70","page_url":"\/story\/023f7695-d95f-4d9e-99ed-2cbaf028f847\/element\/b98b7b84-08c5-48cb-9cee-84af2311afb9","title":"

Dr Mohammed Ibrahim Al Dhaheri, Deputy Director General of the Anwar Gargash Diplomatic Academy<\/p><\/div>","description":"","metadata":{},"subtype":"","text":"","image_attribution":"","alt_text":"","hyperlink":"","image_s3_key":"khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg","thumb_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=350&height=233&format=auto&mode=crop&rect=0,578,3280,2187","medium_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=300&height=200&format=auto&mode=crop&rect=0,578,3280,2187","gallery_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=600&height=400&format=auto&mode=crop&rect=0,578,3280,2187","large_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=800&height=600&format=auto","original_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg","hero_image_metadata":{"width":3280,"height":4928,"mime_type":"image\/jpeg","file_size":12605142,"file_name":"Dr-mohammed-ibrahim-al-dhaheri-.jpg","focus_point":[1622,1671]},"section_thumb_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=450&height=300&format=auto&mode=crop&rect=0,578,3280,2187","sub_section_thumb_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=350&height=233&format=auto&mode=crop&rect=0,578,3280,2187","sub_section_more":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=350&height=233&format=auto&mode=crop&rect=0,578,3280,2187","home_gallery_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=600&height=400&format=auto&mode=crop&rect=0,578,3280,2187","home_gallery_thumb_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=350&height=233&format=auto&mode=crop&rect=0,578,3280,2187","home_230_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=180&height=120&format=auto&mode=crop&rect=0,578,3280,2187","home_600_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=450&height=300&format=auto&mode=crop&rect=0,578,3280,2187","home_450_image":"https:\/\/imgengine.khaleejtimes.com\/khaleejtimes-english\/2026-03-23\/nzl3gg0u\/Dr-mohammed-ibrahim-al-dhaheri-.jpg?width=450&height=300&format=auto&mode=crop&rect=0,578,3280,2187"},{"id":"1a7b2244-32a2-4f84-8300-3b80de2e9f5d","type":"text","family_id":"1c9a13cc-f0f0-42cb-a853-1426fe5b7188","page_url":"\/story\/023f7695-d95f-4d9e-99ed-2cbaf028f847\/element\/1a7b2244-32a2-4f84-8300-3b80de2e9f5d","title":"","description":"","metadata":{},"subtype":"","text":"

\u201cThe global financial crisis of 2008 marked a turning point for Dubai\u2019s rapidly leveraged expansion, prompting financial restructuring and a renewed focus on sustainability. By 2010, Dubai had reduced its debt burden by over 20 per cent and recapitalised key state-owned enterprises, laying the groundwork for more disciplined growth.\u201d<\/p>

A decade later, the Covid-19 pandemic brought aviation, tourism and global mobility to an abrupt halt. \u201cYet
passenger traffic at Dubai International Airport rebounded<\/a> to over 88 per cent of pre-pandemic levels by 2022, while tourism receipts returned to near-record highs.\u201d<\/p>

Each of these shocks has ultimately \u201creinforced rather than reversed\u201d the UAE\u2019s trajectory.<\/p>

 \u201cThe aftermath of the financial crisis brought tighter financial oversight and more disciplined governance, while the pandemic accelerated reforms aimed at attracting global talent, investment and new industries; FDI inflows into the UAE grew by over 12 per cent annually between 2020 and 2023,\u201d said Dr Al Dhaheri.<\/p>

The ongoing attacks by Iran on the UAE have only proven what the UAE has always known: \u201cThere is no crisis that the UAE cannot face. Preparedness, strategic foresight and resilience run deep.\u201d<\/p>

Long-term strategy<\/strong><\/h3>

He attributed the UAE\u2019s resilience to a model built on long-term planning, diversification and institutional strength.<\/p>

\u201cIn the early 2000s, oil accounted for more than 70 per cent of the UAE\u2019s total economic activity. By 2024, roughly three quarters of the UAE\u2019s GDP was generated by non-oil sectors,\u201d he said.<\/p>

Trade, logistics, financial services, manufacturing, real estate and tourism now drive most economic activity, supported by national frameworks such as We the UAE 2031 and UAE Centennial 2071, which aim to raise GDP to Dh3 trillion by 2031.<\/p>

He added that the country\u2019s progress is reflected in global rankings, including a fifth-place position in the IMD World Competitiveness Ranking 2025 and a top-10 placement in the Chandler Good Government Index.<\/p>

\u201cThese successive gains show that the UAE is not merely appearing in global indexes by chance but is strengthening its institutional performance and competitiveness year after year,\u201d he said.<\/p>

Dr Al Dhaheri added that the UAE will continue to set its own standards and raise the bar with each new initiative, pointing to efforts spanning economic diversification, governance reform, expanded global trade and strengthened diplomatic ties.<\/p>

He said the country has consistently translated ambition into tangible outcomes, with progress measured not by comparison with others but by exceeding the benchmarks it sets for itself.<\/p>

\u201cThe lesson is clear: The UAE keeps raising the bar, and the world will take notice.\u201d<\/p>"},{"id":"e79e10cc-290c-4d12-8cb1-831e74889128","type":"text","family_id":"d9dd5ec7-7bf2-4ce2-883b-c713e5ac3a10","page_url":"\/story\/023f7695-d95f-4d9e-99ed-2cbaf028f847\/element\/e79e10cc-290c-4d12-8cb1-831e74889128","title":"","description":"","metadata":

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