Abu Dhabi continues to target rapid growth in its non-oil industries, according to Mohammed Omar Abdulla, undersecretary at the Abu Dhabi Department of Economic Development.
Speaking at MEED’s annual Abu Dhabi conference, he outlined the emirate’s success so far in diversifying its economy. The emirate’s non-oil GDP at current prices grew at 7 per cent in 2011, compared with 5.4 per cent in 2011.
He cited forecasts that predict the average gross domestic product (GDP) for the emirate between 2013 and 2016 will grow at 5.7 per cent, whereas non-oil GDP will grow at a faster rate of 6.5 per cent.
Omar Abdulla told delegates there was not a more suitable time to “capitalise on emerging market opportunities” in Abu Dhabi.