Abu Dhabi has set its sights on becoming an economic "powerhouse," through privatization, diversification of industries, and by establishing sector-specific zones to boost the UAE economy, employment and income levels.
In a speech by Shaikh Hamed bin Zayed Al Nahyan, Chairman Abu Dhabi Economic and Planning Department (ADEPD), he stated that "As the largest emirate in land mass and in natural resources, from oil and gas to marine coastal resources, Abu Dhabi takes the lead with its many and continuous policy guidelines."
The comments were made on Tuesday, at the first Annual Advanced Technology Forum on Sustainable Development, organized by the French Business Group Abu Dhabi, in partnership with ADCCI, according to Khaleej Times.
Nahyan added that Abu Dhabi had many competitive advantages, including an abundance of energy which also gave its a comparative advantage in cost.
Such advantages, he said, would help the Emirate attract heavy industries that would further advance its other mineral resources.
"From a crude output, energy will be an input to a whole chain of high value-added industrial pursuits."
Nahyan said that a specific industrialization path had been mapped out for the Emirate to reach its goal. Numerous capital and energy intensive projects would be established with advanced technological in the specialized economic zones.
