Government of Dubai continues to meet all its contractual obligations


Statement from Dubai Department of Finance

The Department of Finance, Government of Dubai, issued the following statement today in response to an inaccurate and misleading report published in MEED magazine on April 24, 2009:

“The Government of Dubai will continue to meet all its contractual obligations, including to construction contractors, as per the terms agreed with all third parties. Further, the Government of Dubai has no intention to limit at any time the number of contractors licensed to operate in the emirate. Finally, the Government of Dubai wishes to clarify that those companies that have received funding via the recently set-up Financial Support Fund received such funds on strictly commercial terms, and that the utilisation of such funds remains at the sole discretion of individual companies.”


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