Abu Dhabi growth needs improvement to meet 2030 target
While falling a bit short of government targets for annual growth, industrial, retail, tourism, and oil production have all led to noticeable growth in the Abu Dhabi economy. It is projected to grow by about 4% this year. In order to meet the government timeline for growth, it should grow by about 6-7% a year, but the global economic downturn also came to the region and it is now recovering. The goals are part of the 2030 Vision set down by the government.
The Vision helped set goals and policies to help Abu Dhabi move away from oil dependency. Oil production is up already in 2011, but this is due in part to the instability in North Africa, as AD has taken on some of Libya’s production. This 5-year portion of the plan details key ways to streamline the legal and regulatory procedures in the Emirate, and enabling/supporting small and medium sized businesses. This portion of the plan is meeting all expectations, and growth is sure to increase as well.
While falling a bit short of government targets for annual growth, industrial, retail, tourism, and oil production have all led to noticeable growth in the Abu Dhabi economy. It is projected to grow by about 4% this year. In order to meet the government timeline for growth, it should grow by about 6-7% a year, but the global economic downturn also came to the region and it is now recovering. The goals are part of the 2030 Vision set down by the government. The Vision helped set goals and policies to help Abu Dhabi move away from oil dependency. Oil...
While falling a bit short of government targets for annual growth, industrial, retail, tourism, and oil production have all led to noticeable growth in the Abu Dhabi economy. It is projected to grow by about 4% this year. In order to meet the government timeline for growth, it should grow by about 6-7% a year, but the global economic downturn also came to the region and it is now recovering. The goals are part of the 2030 Vision set down by the government.
The Vision helped set goals and policies to help Abu Dhabi move away from oil dependency. Oil production is up already in 2011, but this is due in part to the instability in North Africa, as AD has taken on some of Libya’s production. This 5-year portion of the plan details key ways to streamline the legal and regulatory procedures in the Emirate, and enabling/supporting small and medium sized businesses. This portion of the plan is meeting all expectations, and growth is sure to increase as well.
