UAE. The Abu Dhabi economy is projected to grow 8.2% this year and
13% annually over the coming years, according to Chairman of Abu Dhabi
Chamber of Commerce and Industry (ADCCI).
''The growth will be fuelled by the substantial rise in the gross
domestic product of over AED 400 billion in 2007. The GDP of the
Emirates is set to surge to AED 584 billion by 2010, said Selah Al
Shamsi in an address before the Abu Dhabi Economic Forum which opened
on Sunday.
''Great achievements made in the last two years in regard to
government restructuring and greater engagement of the private sector
in the Emirate's comprehensive development will open up a new chapter
of public-private sector partnership in order to mobilise energies and
resources towards overall development,' 'he added.
Al Shamsi said the sound economic policy adopted by the government
of Abu Dhabi has created a competitive investment environment locally
and internationally, a privilege which further establishes Abu Dhabi's
position in the global economy.
The high profile event is attracting large participation by
corporate leaders, bankers, economists and businessmen from Abu Dhabi,
the Gulf and globally.
The Forum's proceedings will for two days focus on Abu Dhabi's main
economic trends and the potential impact of the government's new policy
agenda on investment flows, government spending and business
opportunities in the Emirate's various economic sectors.
Speakers will in particular tackle the multi-billion spending
programme on infrastructure designed to underpin the Emirate's emerging
and fast expanding economy and the government's plans for
developing industry, particularly energy- and capital-intensive
industries.
The Abu Dhabi Economic Forum will also discuss among other topics
the outlook for real estate and tourism, and the potential impact of
accelerated development and mega projects on Abu Dhabi's plan to become
a major destination for tourism, business and leading-edge alternative
energy industries.
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