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Tourism key to economic diversification: Sultan bin Tahnoun

Abu Dhabi, Nov. 15, 05 (WAM) - Tourism will continue to be the key driverof Abu Dhabi's economic diversification, according to Sheikh Sultanbin Tahnoon Al Nahyan, chairman of the Abu Dhabi Tourism Authority.

Sheikh Sultan, who is one of the speakers at MEED's Major New ProjectOpportunities conference, to be held in Abu Dhabi on November 20 - 21,pointed to new integrated developments such as at Al Raha Beach and AlReem Island as driving new tiers of investment in the capital.

The emirate is looking to increase tourism numbers from almost a millionin 2004, to more than 3 million by 2015.

Sheikh Sultan said: "Tourism has long been considered the driver of economicsuccess. However, the infrastructure needs to be in place, which is whythe new island and coastal projects are underway alongside the new airportterminal for example.

"The next few years will see us develop accommodation tiers, from theluxury hotels through to business hotels to accommodate the increasingbusiness we are expecting from meetings, incentives, conferences and exhibitions(the MICE sector).

"Within the next five to 10 years, Abu Dhabi will be a major business,commercial and tourism sector within Arabia, while still keeping closeties to its culture and heritage."Alongside Sheikh Sultan, other confirmed speakers are Hussain Al Nowais,chairman of Emirates Holdings, and Khaldoon Al Mubarak, CEO of Mubadala.

The growth of the emirate's infrastructure will be a focal point overthe two days of the conference, including Abu Dhabi's main airport terminal,which is scheduled for completion in 2010.

The Supervision Committee for the Expansion of Abu Dhabi InternationalAirport (SCADIA) is overseeing the $5.7 billion redevelopment of the airport,and will discuss the changes being made to increase capacity to 20 millionpassengers a year.

In August, SCADIA delivered ADIA's two new contemporary interim terminalsto increase the airport's annual capacity by 3 million to smooth passengerflow and relieve pressure of high density flights from the existing airport,until the Midfield Terminal Complex is complete in 2010.

As detailed by Sheikh Sultan, tourism will form the base of many of theconference's presentations, not least thanks to the emirate's 200 islandsthat have been earmarked for development. Major projects in the pipelineinclude the Al-Raha Beach complex and Abu Shuoom island.

Day two of the conference will include a keynote address from Ahmed AlSayegh, chairman of Abu Dhabi-based real estate conglomerate Aldar. Inaddition, there will be a focused panel discussion on positioning AbuDhabi as a regional tourist destination.

Speakers on the panel discussion, which follows on from Sheikh Sultan'sday two opening address, are: Mubarak Al Muhairi, director general ofAbu Dhabi Tourism Authority, Khalifa Al Mansouri, chairman of Abu DhabiNational Hotel Company, Nasser Al Nowais, chairman of Rotana Hotels andAhmed Ramdan, managing director of Roya International.

As capital of the UAE, Abu Dhabi is a stronghold of much of the industryin the country. With the major projects in the UAE amounting to a totalvalue of well over $200 billion across industries , Abu Dhabi is establishingitself as one of the world's major economic centres.

Up to 250 business leaders will hear discussions on new business opportunitiesin Abu Dhabi, across sectors such as petrochemicals, power and water andreal estate.

The 2nd Major New Project Opportunities in Abu Dhabi conference, one ofMEED's headline conferences, will be held at the Beach Rotana Hotel andTowers, on 20 - 21November.

The conference is endorsed by the Abu Dhabi Chamber of Commerce and Industryand confirmed sponsors already are Al Jaber, ADCB, Mubadala, Arabian ConstructionCompany, Mushrif National Construction , MEED projects, CH2M HILL, Contax,Gulf Extrusions, JR Knowles and Trowers & Hamlins.

MEED Conferences is part of the leading information brand in the MiddleEast working to provide delegates with the very latest business sensitiveinformation.