Abu Dhabi stands at the forefront of the MENA region’s economic growth, boasting a 9.3% growth rate in 2022. Looking ahead, the emirate’s ambitious roadmap, the Abu Dhabi Economic Vision 2030, charts a course for economic transformation. A key goal of the roadmap is to substantially reduce reliance on hydrocarbons, with a target of achieving 64% of GDP from non-hydrocarbons sectors by 2030. Th
Interview:Sultan Al Jaber What initiatives is the UAE pursuing to drive the growth of its non-oil economy? SULTAN AL JABER: The UAE’s real GDP is projected to expand by 3.3% in 2023, reflecting a robust economic outlook. Strategic visions are guiding the development of the key sectors that are powering the UAE’s economic diversification, such as tourism, real estate, construction and transport.…
The disruption of the Covid-19 pandemic in 2020-21 highlighted a range of inefficiencies in global supply chains, which had pronounced impacts on manufacturing and retail companies – and, ultimately, consumers. Both manufacturing and the industrial sector have also had to contend with high global inflation, which began during the pandemic but has been exacerbated by geopolitical tensions, and its…
Abu Dhabi is creating an environment that supports the growth of the e-commerce segment, backed by evolving regulations, strategic infrastructure initiatives, and support for small and medium-sized enterprises (SMEs). Regulatory Development In September 2023 the UAE Cabinet announced a new e-commerce law that aims to boost the country’s digital economy and enhance its economic competitiveness. The…
The Covid-19 pandemic exposed global supply chain inefficiencies, affecting manufacturing and retail alike. Abu Dhabi, as well as the broader UAE, is applying lessons from this era and focusing on self-sufficiency and local supply chains. This approach strengthens local retail and wholesale operations, which are adapting to the 5% value-added tax introduced in 2018. At the same time, enhanced governance,…
Abu Dhabi’s industrial sector continues to be a key contributor to GDP and the drive for diversification away from oil- and gas-based growth. The sector has also widened its industry portfolio in recent years, with companies based in Abu Dhabi now ranging from steel production to high-tech manufacturing, among other areas. Many of these outfits are located in the emirate in order to take…
Abu Dhabi’s industrial sector continues to be a key contributor to GDP and the drive for diversification away from oil- and gas-based growth. The sector has also widened its industry portfolio in recent years, with companies based in Abu Dhabi now ranging from steel production to high-tech manufacturing, among other areas. Many of these outfits are located in the emirate in order to take advantage…
Interview: Saeed Al Remeithi In what ways is Emirates Steel adapting to global trade dynamics, and what regions are best positioned to support international expansion plans? SAEED AL REMEITHI: World dynamics are changing due to technology, the Fourth Industrial Revolution (4IR), trade tensions and protectionism. The global steel industry is not immune to these developments – especially the latter…
Interview:Mohamed Juma Al Shamisi How are automation and digitisation improving overall maritime logistics operations in Abu Dhabi? MOHAMED JUMA AL SHAMISI: Automation and digitisation have had a huge impact on the maritime sector in recent years. Blockchain technology has helped make transactions more secure and reliable, while automation and artificial intelligence are being used to streamline…
In 2019 Abu Dhabi’s retail sector continued to adapt to a 5% value-added tax (VAT) that came into force in early 2018, with consumer confidence picking up as residents began to factor the new levy into their purchasing behaviours. Malls continue to dominate the retail space, which saw some 200,000 sq metres of gross leasable area (GLA) added to the emirate’s stock in 2019. Meanwhile, developments…
