Minister says rapid economic growth fuelling investment boom in region Staff Report 09/11/06 gulfnews

Dubai: Rapid economic growth in the Middle East is fuelling an investment boom and spurring entrepreneurship in the region, the UAE Minister of Economy said.
Shaikha Lubna Al Qasimi told a business meet that the GDP of the six GCC countries has grown 75 per cent over the past three years, making the zone the 16th largest economy in the world.
"Little wonder, then, that we are seeing new ventures of all types and increased entrepreneurial activity across the region," Shaikha Lubna told the launch of the Arab Business Angels Network (Aban).
Aban is an initiative of the Dubai government to consider local and regional investment in high potential entrepreneurial ventures and is carried out through Dubai International Capital.

A very good initiative intune with the spirit of Dubai. Let's hope this Network and its complementary competition sticks to merits and maintains transparency. Although the news, the network and the competition is not a new born as some readers would recall from a previous post.