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Abu Dhabi Aims for 7 Per Cent Growth in Non-oil Sectors
ABU DHABI - Abu Dhabi is targetting a seven per cent growth rate in its non-oil sectors in the coming years, to achieve the goals set in its Vision 2030 document, according to Mohammed Omar Abdullah, Undersecretary of the Department of Planning and Economy (DPE).
He made these observations while speaking at a workshop on the role of industry in economic development organised by the Higher Corporation for Specialised Economic Zones in collaboration with the DPE here on Friday.
Pointing out that the industry, especially those in the private sector has a critical role to play in the overall economic development of the country, Abdullah said the contributions they would be able to make in enhancing the gross domestic product and export were enormous.
Economic diversification was at the foundation of the development agenda envisaged in the Abu Dhabi Vision 2030 document.
The growth in diversified sectors will help the emirate to achieve a balance in the non-oil trade.
This will in turn provide better environment for business as well as help the revival of the sectors such as manufacturing and tourism where Abu Dhabi has a competitive edge.
Moving away from excessive dependence on oil will enable the emirate to help avoid drastic fluctuations in its developmental course by minimising the impact of the frequent changes in the price f oil, the DPE official said.
· ramavarman@khaleejtimes.ae
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