| 08 Sep 2010 |
|
Abu Dhabi to boost firms investing abroad
- Text size
Wednesday, Sep 08, 2010
Gulf News
Plan aims at economic diversification
BY KEVIN SCOTT
Staff Reporter
Abu Dhabi Abu Dhabi is strengthening efforts to support local businesses operating in overseas markets as part of its economic strategy to move away from oil dependence.
Domestic firms and industrialists are being encouraged to expand abroad as Abu Dhabi aims to diversify its income sources while at the same time increasing the percentage contribution of different sectors.
The development is at the heart of the Abu Dhabi Economic Strategy, which outlines how the capital plans to restructure its economy by placing less emphasis on oil revenues.
Investment climate
Mohammad Omar Abdullah, Undersecretary of the Department of Economic DevelopmentDepartment of Economic Development
in Abu Dhabi, said: “The Department offers a number of services to support industrials to develop their exports. The strategy is designed to maximise the contribution of different sectors and provide an attractive environment for investment.
“Abu Dhabi is very much a production-based economy but of course they will have to diversify their economic output in this globalised era.
“Real commodity production is the foundation of any economy; you can quantify exports like oil and petroleum. However, Abu Dhabi also realises it has to encourage the service sector and support industrials to export their products; it is a very unique process.”
The Department of Economic DevelopmentDepartment of Economic Development has a busy export agenda in 2011 with scheduled appearances at exhibitions including the Hannover International Fair in Germany and the China Import and Export Fair.
strategy 2030
Abu Dhabi is very much a production-based economy but of course they will have to diversify.”
Dr Amjad Hussain
Assistant Professor of Economics and Finance at Al Ain University
By Kevin Scott?Staff Reporter
© Gulf News 2010. All rights reserved.
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
Loading ...
Post a Comment
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.