Buoyed by ongoing diversification efforts, a recently released five-year plan for 2016-20 and large-scale restructuring of state-owned entities, Abu Dhabi has weathered economic headwinds and fared better than many of its peers, while also facing a second consecutive year of lower hydrocarbons income.
Continued investment, particularly in retail and real estate, aims to drive footfall through a variety of new developments on Abu Dhabi’s Al Maryah Island.
Having put revenues from hydrocarbons towards the diversification of its economy, the emirate is in a good position to weather the storms of tumbling oil prices. As part of its Economic Vision 2030, sectors such as tourism, manufacturing, logistics, health, education, financial services, aerospace and telecoms have been highlighted as the...
The tax system is one of the key pillars to have supported the UAE’s economic growth over recent decades. The federal government applies no corporate, personal, capital gains, value-added or withholding taxes, while emirate-level tax legislation introduced in the 1960s has never been implemented.
How does Abu Dhabi’s position between the financial hubs of Europe and Asia affect the allocation of funds, capital and credit across regions?
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