Internal economic situation in the United Arab Emirates

This file concerns the internal economic situation in the UAE. It contains memoranda and correspondence concerning:

• Quarterly economic reports for Abu Dhabi and Dubai and the northern Emirates
• The raising of a loan for the Dubai Aluminium Company Limited (DUBAL)
• HM Ambassador D A Roberts’ despatch concerning the future of the economy of the UAE and opposition to Roberts’ proposal for establishing a technical assistance programme
• The proposed formation of a real estate bank and an industrial development bank and the problems in the housing market caused by the ‘Khalifa loans’ housing policy
• The operations of the Sharjah Group, a predominantly Kuwaiti-owned concern for establishing industrial companies in Sharjah, which plans to become an investment company
• The Arab Monetary Fund’s paper on Arab countries’ earnings from foreign assets [not enclosed]
• Bulletins and an annual report for 1978 [not enclosed] from the UAE Currency Board and a speech by Managing Director Abdul Malik Al Hamar
• Changes to the rules for the issue of general trade licenses in Abu Dhabi, including copies of the decision (in English and Arabic) and media coverage in the Khaleej Times and Emirates News
• The payment of Dubai’s debts and the preparation of the federal budget for 1979.