UAE: Five year plan to spur growth and control inflation |
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The Department of Planning and Economy of Abu Dhabi yesterday announced it will develop a five-year economic plan in line with the emirate's Plan 2030.
Department Executive Director Butti Ahmed Mohammed Al Qubaisi said: "Currently the five-year plan is in its initial stage and the actual work will begin after signing an agreement with an international consultancy firm.
"The selection of the firm and the signing of the agreement with them will be announced very shortly. The plan, which will include codes of conduct, streamlining procedures and forecasts, will be completed and unveiled within a year from now," Al Qubaisi said after releasing the department's Abu Dhabi Social and Economic Report 2008.
The plan aims at controlling inflation and encouraging further investments and growth in the emirate's economy.
Al Qubaisi said: "The plan is being drawn to help further develop the emirate's private sector and further diversify its economy. We want to make the private sector as the leading force in the economy of the emirate. It is also in line with the Abu Dhabi Plan 2030. The plan will be developed to help achieve the 2030 vision."
He also said a team of experts from the department has already been assigned for the project and will work with government and private establishments to collect data and reports.
By Staff Writer
© Emirates Business 24/7 2008
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