Emirati billionaire Khalaf Al Habtoor said that Arab countries should rely on each other instead of on the West, for doubts that they may look down upon them with “no appreciation and respect,” he said.
Speaking at the annual Al Habtoor Research Centre event, a think tank that “warns the Arab world of dangers before they occur,” the UAE businessman said Arab leaders may ask for Western support but shouldn’t solely rely on them.
“We must not rely on any other country, neither Europe nor America nor any other. We must rely on ourselves, and we have the groundwork for this,” he said. “The eyes of the whole world are upon us, especially the West. We must be present, supportive, understanding, honest and frank with each other.”
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Al Habtoor urged Arab countries to follow in the UAE’s footsteps in terms of the relationship between the government and business leaders. “I believe that we, for example, in the UAE, have a stronger economy than many foreign countries for several reasons, namely the laws and cooperation between businessmen and the government,” he explained.
“Unfortunately, I have to say this, but the reality is that Europe is economically exhausted,” Al Habtoor added. “We in the UAE are much better off than them, which is why you see people of all nationalities working together.”
“Money is the most beautiful thing in the world, but don’t be arrogant or it will fly away,” he advised.
The Emirati business tycoon has sought out investment opportunities in Syria and Gaza in the past, especially with regards to reconstruction and recovery projects. Al Habtoor is vocal on social and political issues, and most recently criticised US President Donald Trump for his attacks on Venezuela.
Hind Aldah
Hind Aldah covers business, tech, crypto and all that jazz for a younger audience. In her spare time, you will find her playing classical guitar, painting amateur oil paintings, or crocheting the same old scarf that leads nowhere.
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