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03 December 2023

Abu Dhabi gets Dh330bn investment boost

By Wam

His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, has said the plans and projects underway are designed to translate into reality the vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan.

"This vision aims to foster Abu Dhabi progress and development as it should be and strengthen the UAE's status as an economic and social example to be emulated by other world countries,” Sheikh Mohamed said in remarks he made during the Executive Council meeting he chaired at the Crown Prince Court. 

The meeting discussed the latest developments of plans and projects in various sectors and the aspired-for objectives tailored to enhance the progress of development in the emirate. 

"The noblest objective we work towards is to ensure every citizen's welfare and stability. As such, most of our efforts are geared to allow our sons to enjoy the benefits of development and help them contribute, through their creative potentials, to the overall development of the country," the Crown Prince said. 

Abu Dhabi Emirate will inject huge financial allocations to help fund capital projects during the coming five years, 2013-2017.

A total of Dh330 billion will be distributed to various sectors.

The Council stressed the need that these projects should be in compliance with the standards which guaranteed, when implemented, the achievement of the objectives stated in the Abu Dhabi 2030 vision.

The capital projects will encourage the development of economic development in the emirate and offer necessary services to its citizens.

The private sector will be an essential partner with the public sector in carrying out many of these projects, and this will have positive impact on the economic situation in the emirate by revitalising work in all sectors.

Based on this, and with the aim of improving services to investors and businessmen, the Council discussed the status of work in the Abu Dhabi Business Centre, which is planned to be inaugurated in the first quarter of this year.

The centre, an affiliate of the Department of Economic Development, will provide services to businessmen and investors as well as various government institutions.

The allocations, intended for the emirate's economy, are in line with the Abu Dhabi government policy to diversify its economic resources and reduce dependence on oil and gas industry revenues.

Therefore, the government has launched several initiatives aimed to improve the investment environment by offering incentives and facilities to investors.

To that end, the emirate has developed a number of specialised economic zones covering different industrial and trade fields.

These offer various exemptions to investors, as well as advanced infrastructure in terms of transport and communication networks, making the emirate a springboard to other countries in the region. 

Part of the financial allocation has been used to create 5,000 new job opportunities in 2013 for emirate nationals in various sectors in a way that will upgrade public performance.

The Abu Dhabi government has been offering advanced training courses to qualified emirate nationals and many are being sent abroad to acquire international experience and technical skills.

During the meeting, the Council members discussed the performance of various government sectors during the past year. The extent to which the stated objectives in the 2012 general budget have been realised were checked, as well as how much progress was made in major projects within the set timeframe.

Social development projects were given priority in the Council's deliberations due to their direct impact on public life.

The Council members underlined the necessity to move forward with the social development projects in accordance with the timetables already stated because these projects are closely associated with progress being made to projects in other sectors.

As such, the council discussed the main indicators in the health sector and reviewed progress in the Al Mafraq's new Hospital Project, where 33 per cent of the work has already been completed. The hospital, which accommodates 739 beds, is expected to offer quality services especially in emergency cases. It includes a full-fledged center to treat first degree burns.

As for the Cleveland Clinic, 60 per cent of work in the project has been completed. The hospital will have 364 beds and can be expanded to 490 beds.

Regarding the health clinics and centres in Abu Dhabi and the Eastern Region (Al Ain), 90 per cent of the work in seven clinics has been completed. Work in two other clinics is still at the initial stages, having reached only 15 per cent.

The Council members also reviewed work in government schools planned to be opened in the 2013/2014 school year.

Fifteen schools will be inaugurated in Abu Dhabi and Al Ain. They can accommodate 15675 students. The Abu Dhabi Future School Programme was also discussed. It includes building of 34 schools and 10 buildings for kindergartens; 24.3 per cent of work in the project has already been completed. Infrastructure work in the school buildings is progressing in accordance with the specified timeframe.