During the first Abu Dhabi Economic Forum, which was launched in the capital yesterday by Shaikh Hamed Bin Zayed Al Nahyan, director of Abu Dhabi's Crown Prince Court, top officials emphasised the emirate's drive towards privatisation and economic diversification.
"We have a solid contention that the economic progress and prosperity of Abu Dhabi lies in the partnership between the private and public sector, and we are currently setting the suitable framework by establishing the necessary entities such as Abu Dhabi Council for Economic Development and the Abu Dhabi Tourism Authority," Shaikh Hamed said.
The restructuring of Abu Dhabi, which achieved a 60 per cent progress, is an ongoing process. "We seek to become among the top-five e-government services providers worldwide," said Mohammad Al Bowardi, secretary general of Abu Dhabi Executive Council.
With more than Dh930 billion worth of ongoing projects and about $7 billion of foreign direct investment (FDI) in 2006, Abu Dhabi is expecting to attract more than $35 billion of FDI in the coming few years, according to Salah Al Shamsi, chairman of the federation of GCC chambers of commerce.
The emirate's non-hydrocarbon sector of the economy grew by 18 per cent last year by adding Dh138 billion worth of production, and is expected to increase to Dh163 billion in 2007.
"Abu Dhabi's economic growth rate is expected to record 8.2 per cent in 2007, and an average of 13 per cent in the years to follow," Al Shamsi said.
In general, the private sector's participation to the UAE's economy has reached 43 per cent in 2006, while the country received about one third of the FDI directed to the Arab world according to Shaikha Lubna Al Qasimi, UAE's minister of economy.
The two-day event will end today and is attended by more than 1000 officials and business and financial experts from around the world, including Abdullah Bin Hamad Al Attiyah, the Qatari deputy prime minister and minister of energy, as well as He Lee Yi Shyan, the Singaporean minister of trade and Industry.
Autor(en)/Author(s): Ahmed A. Elewa
Quelle/Source: Gulf News, 06.02.2007
