Assignment1 economics Essay Example | Topics and Well Written Essays - 750 words

Assignment1 economics - Essay Example living for many in the Asian countries. However, the rapid growth in the economy of these countries have left the Middle East strained of skilled and unskilled labor. The Middle East's booming construction industry currently faces two main threats, the supply chain management of materials for construction, the supply of work force and the issues associated with them. Let us look at the questions below: 1. What has the government done to improve the situation The rise in the prices of oil affects the price of materials imported into the country for construction. The UAE government has cut down on import duty and is planning to launch its own materials supply company. More over the UAE is also launching its Nuclear energy program implementation organization according to the recommendations of the IAEA and the implemented organization will be called as the Emirates nuclear energy corporation. This is done mainly to meet the growing energy demand and facilitate construction companies. Company strategy& decision 4 Sources say that the UAE lifted cement and steel duties in March to reduce the burden on contractors and stabilize the steel market. The Dubai gold and commodities exchange launched its first steel rebar futures contract in October 2007 (Said Summer, Reuters 2008). The government has also paid attention to the rising dislike among laborers for gulf as a job destination the reason for the dislike being the low wages, poor working conditions, and lack of job security. Update "The UAE government has announced a review of workers' wages in the construction sector, following a series of strikes recently. The Cabinet has ordered a study on the salaries of construction workers." (Emirates Update... Said Summer (July 9, 2008) , 'UAE steel prices soar 15% in July' Construction and Industry news, Arabian Business.com , Retrieved on August 9, 2008 http://www.arabianbusiness.com/524340-uae-steel-prices-soar-15-in-julyln=en