Abu Dhabi DED releases annual economic report

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Source:  www.emirates247.com

Chairman of Abu Dhabi Department of Economic Development Nasser Ahmed Al Suwaidi said the emirate of Abu Dhabi has come a long way in diversifying the economic base in a manner consistent with the goals of “Vision 2030”.

“Despite the high contribution of oil in GDP, which reached 49.7 per cent in 2010, but the percentage contributed is still less than 50 per cent for the second year in a row, which confirms that the emirate is on the right track towards achieving sustainable development, Al-Suwaidi said in his introduction to the annual Economic Report of Abu Dhabi 2011, which was prepared by the Studies Directorate of the Department.

Nasser Al-Suwaidi noted that the commitment of Abu Dhabi Government to continue spending on infrastructure and other development projects in various parts of the emirate, has led to the revival of the local economy, and enhanced Abu Dhabi’s position as one of the leading economies in the region.

He further said that although government spending is still considered as the main engine of economic growth in Abu Dhabi, the emirate looks forward to strengthen its partnership with the private sector, to increase the role and contribution of the sector in achieving the strategic objectives of the emirate, through the adoption of sound action plans and economic strategies, to bring about promising opportunities in all areas.

The senior official expressed the aspiration of the Department of Economic Development to continue its efforts to attain development and modernisation, in line with the judicious vision of His Highness President Sheikh Khalifa bin Zayed Al Nahyan, and the guidance of General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council.

He noted that the Department of Economic Development is dedicated to the achievement of the goals of “Abu Dhabi Economic Vision 2030”, and placing Abu Dhabi among the best five governments in the world in terms of performance. More info

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