Abu Dhabi will allocate AED 330 billion in various sectors during the coming five years (2013-2017) as part of Abu Dhabi 2030 vision.
His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, said the plans and projects underway are designed to translate into reality the vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, according to the WAM – UAE’s official news agency.
“This vision aims to foster Abu Dhabi progress and development as it should be and strengthen the UAE’s status as an economic and social example to be emulated by other world countries, Sheikh Mohamed said in remarks he made during the Executive Council meeting he chaired at the Crown Prince Court.
The Council stressed the need that these projects should be in compliance with the standards which guaranteed, when implemented, the achievement of the objectives stated in the Abu Dhabi 2030 vision. The capital projects is expected to encourage the development of economic development in the emirate and offer necessary services to its citizens.
The fund allocations are in line with the Abu Dhabi government policy to diversify its economic resources and reduce dependence on oil and gas industry revenues. Therefore, the government has launched several initiatives aimed to improve the investment environment by offering incentives and facilities to investors. Part of the financial allocation has been used to create 5,000 new job opportunities in 2013 for emirate nationals in various sectors in a way that will upgrade public performance.
In its aim to further enhance the services, Abu Dhabi government has planned ‘The Abu Dhabi Business Centre‘, an affiliate of the Department of Economic Development, that will provide services to businessmen and investors as well as various government institutions.
Abu Dhabi emirate has developed a number of specialised economic zones covering different industrial and trade fields. These offer various exemptions to investors, as well as advanced infrastructure in terms of transport and communication networks, making the emirate a springboard to other countries in the region.