At a recent conference organized by the Department of Economic Development held in Abu Dhabi, The Abu Dhabi Chamber of Commerce and Industry’s Economist, Dr Mohammed Abdul Rahim, announced the launch of five new major projects that will change the face of industry in Abu Dhabi, and ensure the Emirate is less dependent on the Oil and Gas sector. The Dh200 billion will be invested in five new projects as follows:
In 2009 Abu Dhabi was recorded to have had 346 industrial enterprises and this accounted for half of the value of investments within the United Arab Emirates. However some say the plans going forward are very ambitious considering the lack of investment available at the present time and the slowness of uptake for these projects at present.
The conference ended with a recommendation for an industrial bank to be established in Abu Dhabi to finance such projects.Andrew Reid, Staff Writer, Gulf Jobs Market News