UAE: Abu Dhabi

With an eye on developing an Emirati labour force that can meet the requirements of local employers, the Executive Council (EC) of Abu Dhabi recently announced two new programmes that will boost the provision of education and professional training to UAE nationals. The government’s plans include the expansion of a scholarship fund for university students, as well as the establishment of additional vocational schools at the secondary level.

Etihad Airways, the UAE’s national airline, is pushing forward with an expansion policy that should prepare it to compete in the increasingly competitive regional aviation environment.

The Abu Dhabi Executive Council recently approved the building of a 10th independent water and power project (IWPP). The increased capacity this new facility will bring is expected to help the emirate meet its rising demand for utilities.

While the Strategic Tunnel Enhancement Programme (STEP) may not have grabbed as many headlines as some of Abu Dhabi’s larger infrastructure projects, the new wastewater network is crucial to the long-term health and welfare of the city.

With investor demand for Islamic bonds growing, Abu Dhabi-based businesses are increasingly turning to the sukuk market to finance their activities, with four companies since November 2011 having issued sharia-compliant debt instruments. Meanwhile, the first three months of 2012 saw two major conventional bond issuances from Dolphin Energy and the National Bank of Abu Dhabi (NBAD).

The emirate’s retail sector is looking ahead to busier times, with solid sales growth expected and a swathe of new shopping developments set to be rolled out over the next 12 months. Such optimism is largely due to rising demand, which is currently fuelled by a young and increasingly affluent population, as well as the steadily growing number of overseas visitors.