Expo 2020, new gas finds fuel UAE’s rapid economic growth

Expo 2020, new gas finds fuel UAE’s rapid economic growth

Several indicators, supported by specialist international reports, show the UAE economy approaching significant milestones in various sectors and platforms, most notably the energy sector, where two gas finds have been announced in Dubai and Sharjah.. With the launch of Expo 2020 Dubai in October, the UAE economy is expected to make significant strides in all sectors, with the long-term financial proceeds of the World's Greatest Show projected to amount to AED122.6 billion, according to an independent study published by Ernst and Young.. The two engineering, procurement and construction contracts are expected to be completed in 2022, enabling the Dalma Gas Development project to produce around 340 million standard cubic feet per day (mmscfd) of natural gas.. In Dubai, the ongoing construction of Dubai Creek Tower is expected to be completed before the launch of Expo 2020 Dubai in October 2020.. In 2019, the financial sector made many achievements, most notably a significant increase in banking assets which broke the AED3 trillion mark, strengthening the country's stature and financial profile in the Arab Gulf region and the Middle East.. Foreign deposits accounted for 29.2 percent of the total deposits held by national banks, surging to AED1.303 trillion at the end of