The government's ambitious Abu Dhabi Economic Vision 2030 Plan has helped to define the relationship between policymakers and the private sector, and is proving to be pivotal as the Emirate pushes ahead with its wide-ranging infrastructure projects, according to the CEO of the private joint stock company Al Qudra Holding.
Mahmood Ebraheem Al Mahmood said that the plan had highlighted the important part that the private sector would play in ensuring a balance is found between improving efficiency and meeting social responsibility as the government looks to secure long-term sustainable economic growth.
In an exclusive interview with Oxford Business Group (OBG), the highly acclaimed global publishing, research and consultancy firm, Al Mahmood said: "When you look at everything we talk about, one way or another it comes back to the 2030 Plan. As a government they are saying 'we want to deliver and the private sector is invited to play an important role'."
The interview will feature in The Report: Abu Dhabi 2009, the most comprehensive and accurate review of the Emirate's economy available, which is soon to be published by OBG. Rated as the premier source of information for foreign direct investment into the emirate's economy, it will be a vital guide to the many facets of Abu Dhabi, including its macroeconomics, infrastructure, political landscape, banking and sectoral developments.
The Report: Abu Dhabi 2009 has been produced by a team of OBG analysts based in Abu Dhabi who conducted some two hundred interviews with leading political and economic figures. Al Mahmood is one of the leading business figures interviewed in The Report: Abu Dhabi 2009, where the full version of his interview will appear.
Al Mahmood stressed that within its role of leading development, the private sector would be careful to promote a geographical balance. "As investors working with the government, we have to have some checks and balances, meaning we cannot neglect some areas," he said. Al Mahmood warned of the pitfalls of focusing solely on Abu Dhabi City, which, he said, could lead to mass migration of people and investments there.
He also highlighted the importance of striking a balance between supply and demand as both the private sector and government explore ways of improving labour market efficiency and attracting investors. "In the process, a certain workforce is needed and a certain talent is required. So our laws and regulations are at a level that is not overwhelming for investors but does not neglect the rights of the workforce," he said.
Al Mahmood is optimistic that the focus which the government is giving to Abu Dhabi's infrastructure projects will help the economy to weather any fall-out from the global financial crisis. "The infrastructure investment stimulus is there and no projects have been cancelled," he said. "There are also very interesting initiatives coming up in both health care and education, and all of it is coming on-line with no delays."
Available in print form and online, The Report: Abu Dhabi 2009, will be part of the range of OBG's publications renowned as leading sources of information on developing and emerging economies around the world.
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About Oxford Business Group
Oxford Business Group (OBG) is a global publishing, research and consultancy firm, which publishes economic and political intelligence on the markets of the Middle East, Eastern Europe, North and South Africa, the Caribbean and Asia. Through its range of print and online products, OBG offers comprehensive and accurate analysis of political, macroeconomic and sectoral developments, including banking, capital markets, energy, infrastructure, industry and insurance.
The critically acclaimed economic, political and business reports have become the leading source of business intelligence on developing countries in the regions they cover. OBG's online economic briefings provide up-to-date in-depth analysis on the issues that matter for tens of thousands of subscribers worldwide. OBG's consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.
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© Press Release 2009
