The UAE takes a long-term view of all investment plans, whether upstream or further down the value chain. We do not link our long-term plans to short-term market fluctuations. We continue to invest in long-term sustainable capacity, said Al Hameli.
He added that falling material costs and a further benign contracting market were encouraging the country to perform certain projects.
The UAE continues to work on a wide range of projects. Over the last few years, the final cost of projects increased dramatically due to increasing engineering and commodity prices, he said.
These costs are coming down to more reasonable levels and, as a result, many project promoters are looking to benefit from these falls. In some cases, this could lead to delays but, in general terms, projects are being boosted due to lower costs, said Al Hameli.
