• Home
• /
• UAE
• /
• Business

Abu Dhabi capitalising on economic strategies

Abu Dhabi - Emirate keen to keep up momentum aligned with Vision 2030

The overall economic performance of Abu Dhabi during the third quarter of 2015 remained bullish as non-oil GDP in fixed prices rose to 7.1 per cent.
In the same quarter the oil economy grew 3.9 per cent, said Ali Majed Al Mansouri, chairman of the Abu Dhabi Department of Economic Development, or Added.
Speaking on the Abu Dhabi Plan, he said it provides a clear track to the vision of the wise leadership of Abu Dhabi, headed by the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, and the insightful directives of His Highness Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council of the Emirate of Abu Dhabi.
The vision behind the Abu Dhabi Plan aims at enhancing the emirate's competitiveness in line with the objectives of Abu Dhabi Vision 2030, Al Mansouri said.
Speaking on the occasion of the announcement of the Abu Dhabi Plan during the Abu Dhabi Government Employees Forum at the Abu Dhabi National Exhibition Centre, he said that the government of Abu Dhabi, with close follow-up from Shaikh Hazza bin Zayed Al Nahyan, Vice-Chairman of the Abu Dhabi Executive Council, is keen on achieving the goals and priorities of economic development within the Abu Dhabi Plan, which is led by the Added in cooperation and coordination with government, semi-government and private sectors across the emirate.
Al Mansouri pointed out that the Added strategic plan 2016-20 focuses in its goals on the four pillars of economic development, namely creating a competitive, resilient business environment; building an active private sector and leading investment opportunities; promoting an attractive, unique tourist destination; and establishing vital sectors that contribute to economic diversification.
The economic development section in the Abu Dhabi Plan reflects the recently-released statistics and figures in terms of the results of Abu Dhabi's non-oil activities that have shown positive and considerable growth rates that amounted to 8.2 per cent in fixed prices in the fourth quarter of 2015, compared with the same quarter in the previous year when their contribution to Abu Dhabi's GDP in fixed prices of 2007 amounted to 50.7 per cent during the same period.
Al Mansouri concluded by saying that these results reflects how the economy of Abu Dhabi continues to grow depending on the role of non-oil sectors, whose strong performance has notably contributed to the strengthening of the overall economic performance of the emirate during the third quarter of 2015.
- haseeb@khaleejtimes.com