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.
In an effort to diversify its economy and increase employment opportunities for its growing population, Abu Dhabi is encouraging development in its downstream industrial sectors, with an emphasis on the aerospace industry.
Following a series of high-profile consolidations in Abu Dhabi this year, the Abu Dhabi National Oil Company (ADNOC) is the latest entity to enact structural changes in an effort to drive down costs and increase efficiency.
Abu Dhabi is looking to alternative methods to secure food supplies to feed its growing population.
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.
Major reforms are under way at the Abu Dhabi National Oil Company (ADNOC), as the state-owned oil firm moves to strengthen performance and profitability and create greater efficiencies, against a backdrop of low oil prices.
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