Abu Dhabi is the largest of the seven emirates that comprise the UAE, in terms of both its land mass and economy, and home to the majority of the country’s energy production and reserves. 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 revenues.
Despite lower external demand and a sharp drop in oil prices from mid-2014, Abu Dhabi’s economy has remained resilient, growing by 9.5% in 2017. The emirate is working to consolidate government spending and reshape the economy through a decreased reliance on oil and gas, investing in areas such as research and development, technologically advanced manufacturing and other high value-added industries that are not necessarily labour intensive. The drive to diversify has resulted in higher levels of focus on both non-conventional hydrocarbons and downstream capacity, as well as in increased participation from an increasing selection of global partners. Centred on the Abu Dhabi Economic Vision 2030, the emirate has made important strides towards securing its growth plans amid global and regional risks, and ensuring wealth for future generations.
Thinking forward: Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of...
Strengthening community: Mugheer Khamis Al Khaili, Chairman, Department of Community Development (...
Cooperation goals: Emmanuel Macron, President of France, on the opening of the Louvre Abu Dhabi and...
A modular future: Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in the Al Dhafra Region...
Innovation drive: Khaldoon Khalifa Al Mubarak, Group CEO and Managing Director, Mubadala Investment...
New opportunities: Saif Mohamed Al Hajeri, Chairman, Abu Dhabi Department of Economic Development,...
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