Located 160 km to the east of Abu Dhabi City, in the centre of a large oasis that has been inhabited for thousands of years, the “garden city” of Al Ain is known for its long history and traditional character. Unlike the gleaming towers of the capital, Al Ain is made up mostly of low-rise buildings in a traditional Arab style. The birthplace of...
Agriculture has long been a mainstay of the Al Gharbia region’s economy and among its chief employers. In the coming years, new projects will build on this agricultural base, moving into a variety of different areas and bringing additional value to the sector through the production of processed and finished goods.
As of mid-2013 the city of Al Ain, Abu Dhabi’s second-largest urban area, was in the early stages of an industrialisation drive that could completely transform the local economy. Under Plan Al Ain 2030 and the government’s long-term development strategy, the Abu Dhabi Economic Vision 2030, the city is slated to become a regional centre for...
While the Abu Dhabi Economic Vision 2030 strategy provides a clear path to growth and diversification, reaching its goals – which include an average annual growth rate of 7% until 2015 and 6% annually thereafter; significant expansion of the non-oil sector, with the aim of it accounting for 64% of GDP by 2030; and a 50% or greater increase in GDP per capita – is a...
Although inflation had been a growing issue prior to the 2008-09 global economic crisis, these concerns have since been receding. In December 2008, the inflation rate hit an all-time high of 12.3% – a level high enough to present a significant challenge for the Central Bank of the UAE (CBU). Finding its ability to respond to the trend through...
The strong fiscal position of the UAE has meant that it has never been compelled to turn to the debt markets to balance its budgets, and comments in recent years by the federal government suggest that this is not likely to change in the short term. While the government has moved to formulate legislation that would allow for public debt issuances...
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