Abu Dhabi – The Capital of Progress
Constituting over 80% of the total landmass of the United Arab Emirates, Abu Dhabi is the largest and most populated of the seven Emirates. From its origins as a centre for pearl diving and fishing, Abu Dhabi has developed at a phenomenal pace to become a truly 21st century city. Since the discovery of oil in 1958, the late Sheikh Zayed bin Sultan Al Nahyan knew this natural treasure must be used to improve the lives of future generations. Thus, he set about turning that aspiration into a reality.
Among Abu Dhabi’s highlights, which are enjoyed by residents and visitors alike, are its world-class infrastructure, exceptional educational and healthcare institutions, as well as architectural wonders, an abundance of parks and recreational facilities along with luxury hotels embracing the Arabian Gulf. This has allowed Abu Dhabi to become a leading, global destination.
Why the UAE?
“He who does not know his past cannot make the best of his present and future, for it is from the past that we learn.”
The Late Sheikh Zayed bin Sultan Al Nahyan
The UAE has set a vision on the diversification of its economy, with a view to reducing reliance on revenue from non-renewable energy sources. The manufacturing sector has immense potential to expand and plays a vital role in the diversification strategy of the country. Manufacturing is currently the second largest contributor to the UAE economy after the oil and gas sector.
The new UAE investment law, which allows one hundred percent company ownership to foreigners, is intended to boost the manufacturing sector and will further contribute to the overall growth of the economy. The law was commissioned with the possibility of creating flexibility and is in the final phase of being drafted with special emphasis on new technology and environmentally-friendly initiatives across different sectors.
Manufacturing and the knowledge-based sector accounts for around 11 per cent of total UAE GDP, with the aim of growing this to 25 percent of total UAE GDP by 2025. The UAE’s Vision 2021 focuses on creating national policies that achieve sustainable growth, in which manufacturing plays a key role.
Hosting the Global Manufacturing & Industrialisation Summit in Abu Dhabi is a testament to the country’s growing role in developing a global, knowledge-based economy that values human capital development and innovation. These attributes, set by the UAE’s Vision 2021, will position Abu Dhabi as a leading manufacturing hub that integrates global value chains to promote a sustainable future for many generations to come.