Essay: UAE-Manufacturing, Construction and Commerce
The change in United Arab Emirates has been influenced by federal government which made heavy investments on tourism, infrastructure, telecommunications and commerce by shifting from being dependent on oil and gas industry (Walters and Kadragic, 2006). Initially the economic development was majorly dependent on oil and gas industry.
Education has contributed to diversification of oil and gas into manufacturing, construction and commerce. Gas and Oil Company constitute of 1% percent of labor market while the construction and manufacturing firms owns 50% of labor force. The overall economic growth and development are majorly dependent on areas such as tourism, manufacturing and financial firms (Stewart, 2006). The commerce especially tourism, restaurants, hotels and real estate sectors have major contribution in rapidly changing United Arab Emirates. The country had made future efforts to shift from depending on oil. New business curriculum has emerged on areas of commerce (Craf and El-Bassiouni, 2006).