The United Arab Emirates remains untouched by  the global financial recession and its growing economy looks forward to the future with confidence, Sheik Mohammed bin Rashid Al  Maktoum, Vice President and  Prime Minister of the UAE  and ruler of Dubai, told reporters here.

Meeting media personnel from more than 500 countries representing major newspapers and news agencies at the Zubeel Palace, his official residence, he said Dubai was never affected by the world financial crunch.

Dubai and Abu Dhabi have one economy - the  UAE economy, he said, citing the record success  of its  economic boom as well as achievements in the political , economic and social  development fields.

Maktoum stressed the UAE economy is growing steadily and said the country is looking  forward to  the future. Two big ongoing projects were a civil nuclear energy project and passenger traffic terminal expansion at the Dubai International airport.  In the first 10 months of 2009 passenger traffic through Dubai has topped 44 million, compared to 37 million in 2008.

``We have made all our dreams into reality,’’ the Sheik Maktoum said. He also cited the record success of the modern Dubai metropolis and the increased numbers of visitors into UAE as examples of the booming economy.

 ``Everything we have achieved is from the Almighty and everything we have in Dubai and Abu Dhabi belongs to the UAE and its people,’’ he said. "We do have challenges but at the same time we have promising opportunities as well.’’

``We have the necessary financial and human resources to face all these challenges and overcome them with confidence. Right now we have put UAE on the global map and   attracted giant global companies looking for investment in this country.

``With our firm faith in the Almighty, ability, determination and correct vision we will move forward to a progressive future,’’  said the Vice President .

The media delegates were later hosted to a banquet at the  Presidential Palace .

Sheikh Hamdan bin Mohamed bin Rashid al Maktoum, Crown Prince of Dubai   and Sheikh Majid bin Mohamed bin Rashid Al Maktoum, Chairman of of the Dubai Culture and Arts authority were associated  with the ruler on this occasion.