x Abu Dhabi, UAEWednesday 17 January 2018

Abu Dhabi 2030: Next 5-year plan in place as capital stays the course

Economic policies are being drawn up as part to ensure the development projects are completed in the next five years as Abu Dhabi seeks to keep on track to achieving Vision 2030.

Aerial view of the construction on the Abu Dhabi skyline. Silvia Razgova / The National
Aerial view of the construction on the Abu Dhabi skyline. Silvia Razgova / The National

ABU DHABI // Work has begun on a five-year economic plan that will keep the emirate on track to achieving its 2030 vision.

The Higher Committee supervising the plan held the first of several meetings yesterday at the Department of Economic Development, the state news agency Wam said.

A number of individual economic sectors will soon be assessed, including tourism, transportation, renewable energy, information and communication technology, media, financial services and insurance, health and education.

Mohammed Omar Abdullah, undersecretary at the department, said that as well as assessments they would check on the performance of development sectors.

Officials from several government, financial, educational and statistics entities attended the meeting.

Economic policies will be drawn up as part of the meetings to ensure the development projects are completed within the next five years.

Mr Abdullah said cooperation was crucial among local government entities, and the role of the private sector would also be considered.

Policies that would stimulate the private sector will be put together after a close look into the challenges faced by it, Wam reported.

Small and medium-sized enterprises will be evaluated, as well as the partnership between the public and private sector.

The department said the plan was important for Abu Dhabi’s long-term vision as it identified progress priorities for the next five years.

The first five-year economic plan, which ended last year, had “good results”, the department said.

Results revealed progress at the macroeconomic level of the emirate.

The contribution to GDP of non-oil sectors increased by 5 per cent over the five years, reaching 48 per cent last year.

The department said Abu Dhabi was developing according to the economic vision and towards greater economic diversification.