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From The Report: Abu Dhabi 2023
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Abu Dhabi, the largest emirate in the UAE, boasts 200 islands and 700 km of coastline. It is a vital player in the UAE’s economic and political landscape, with around 96% of the country’s oil reserves. To propel diversification, the Abu Dhabi Economic Vision 2030 is focused on key sectors such as finance, ICT, agri-tech, tourism and manufacturing.
The Abu Dhabi Plan, meanwhile, which was initiated in 2016, aims to create a thriving private sector and enhance business opportunities. Despite headwinds stemming from the Covid-19 pandemic, Abu Dhabi is making strides toward a diversified, globally integrated economy. Priorities include knowledge-based sectors like tourism, manufacturing, logistics, health care, education, financial services and ICT. Private sector investment and foreign direct investment are key drivers in this regard. By 2030 non-hydrocarbons sectors are targeted to contribute 64% of GDP, with oil and gas to account for 36%.

This chapter contains interviews with Sheikh Mansoor bin Zayed Al-Nahyan, Vice-President of the UAE, Deputy Prime Minister and Minister of the Presidential Court; and Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO, UAE Independent Climate Change Accelerators.

Articles from this Chapter

Overview

Rewards of resilience: New initiatives are supporting the development of a knowledge-based economy and the growth of foreign investment
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The largest of the seven emirates that make up the federation of the UAE, Abu Dhabi is an archipelago that comprises 200 islands and a coastline that stretches 700 km. The emirate is home to Abu Dhabi City, which serves as the federal capital of the UAE. Since the UAE declared its independence in 1971, the emirate of Abu Dhabi has established itself as a regional economic and political powerhouse, and an internationally significant destination for investment. With about 96% of the UAE’s proven…

Interview

Diversification drive: Sheikh Mansour bin Zayed Al Nahyan, Vice-President and Deputy Prime Minister of the UAE, and Minister of the Presidential Court of the UAE, on transforming the economy
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Interview:Sheikh Mansour bin Zayed Al Nahyan How do you view the role of foreign direct investment (FDI) in achieving the objectives of the UAE’s industry sector strategy, Operation 300bn? SHEIKH MANSOUR BIN ZAYED AL NAHYAN: FDI is a fundamental component of the country’s economic strategy, and we expect the sector to make a substantial contribution to GDP. Further, we aim to enhance our position in the UN Industrial Development Organisation’s Competitive Industrial Performance Index…

Interview

Forward progress: Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO, UAE Independent Climate Change Accelerators (UICCA), on developing frameworks for ensuring sustainability
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Interview:Sheikha Shamma bint Sultan bin Khalifa Al Nahyan In what ways can local and international stakeholders support Abu Dhabi’s sustainable growth? SHEIKHA SHAMMA BINT SULTAN BIN KHALIFA AL NAHYAN: The focus on sustainability at COP28 UN Conference on Climate Change, which will be held in the UAE in November 2023, presents opportunities for the public and private sectors. NGOs and academia will meet to promote sustainable developments. In 2021 the UAE launched an initiative to reach…

Analysis

Regional ties: Bilateral trade talks between the UK and the GCC are set to boost renewable energy and food security in the bloc
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As part of plans to expand and diversify its global trade partners and fulfil their respective national development strategies, the GCC has launched negotiations with the UK on a free trade agreement (FTA). This partnership is expected to bolster the bloc’s economy, help attract investment and provide greater opportunities for local businesses. On June 22, 2022 the two parties signed a joint statement and officially launched talks on a comprehensive trade deal, with Anne-Marie Trevelyan, then…