Khalaf Ahmad Al Habtoor, Chairman, Al Habtoor Group held a meeting with Her Excellency Barbara A. Leaf, US Ambassador to the UAE and His Excellency Paul R. Malik, US Consul General to Dubai at his office on Al Wasl Road on 22 March, 2016.
Her Excellency and Chairman Al Habtoor discussed the current economic climate in the UAE and the potential impact of low oil prices. Al Habtoor said, “It is a cycle. It will go back up. Low oil prices give other sectors a chance to thrive. The UAE has a rich and diverse economy that can withstand the low cost of oil in the short and long term. Our government has ensured all the buffers are in place.” He added, “It is business as usual for the Al Habtoor Group, we are not slowing down because of the drop in oil. In fact, we are pushing ahead with all our projects in the UAE and abroad and are on track to reach our forecasts for the year.” They also talked about the US presidential election race. Al Habtoor he said is confident that the American people will chose a strong leader. “America needs a president like Abraham Lincoln,” he said.