In recent years Abu Dhabi and the wider UAE have passed several important milestones in terms of security, aerospace and defence strategy. In 2019 Hazzaa Al Mansoori, an astronaut born in Al Wathba, roughly 45 km outside Abu Dhabi City, became the first Emirati to visit the International Space Station. The mission helped to raise the profile and popularity of the UAE’s National Space Programme...
The Middle East Economy
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Chapter | Security, Aerospace & Defence from The Report: Abu Dhabi 2020
Chapter | Trade & Investment from The Report: Abu Dhabi 2020
Abu Dhabi has leveraged its hydrocarbons wealth to pursue a sovereign investment strategy that spans the globe, establishing itself as one of the largest overseas investors in the world. To strengthen the exchange of capital and ideas, the government has worked to create free zones to capture foreign direct investment, benefitting the emirate’s economic diversification strategy. Abu Dhabi’s...
Lower oil prices and a rigorous process of fiscal reform have led to a challenging economic backdrop for Abu Dhabi’s residents and businesses in recent years....
Having declared its independence from the UK in 1971 as part of the federation of the UAE, the emirate of Abu Dhabi has significantly raised its political and economic profile in the intervening years, both regionally and internationally. While the emirate is home to the world’s sixth-largest proven oil reserves, financial buffers have helped it diversify and yield steady non-oil revenue....
Abu Dhabi is home to the world’s sixth-largest proven oil reserves and is working to achieve self-sufficiency in natural gas. It has been successfully pursuing diversification, particularly in terms of manufacturing, banking and ICT. While the global Covid-19 pandemic and decline in international oil prices poses challenges for the emirate, the fundamentals underpinning its economy remain strong.
As governments around the world continue to grapple with the economic and health impacts of the coronavirus pandemic, policymakers in emerging markets have been seeking effective ways to support their informal sectors. In response to the growing crisis, the World Economic Forum (WEF) has called for a 'new deal' aimed at protecting informal workers.