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Abu Dhabi DED's Ramadan  Barza first sitting discusses 2030 vision

Wednesday, August 10, 2011
Abu Dhabi Ramadan Barza was launched by the Department of Economic Development this evening at the Abu Dhabi Exhibition Center, with the participation of the Statistics Center-Abu Dhabi (SCAD), Abu Dhabi Quality and Conformity Council, Abu Dhabi Terminals and a number of government agencies in the Emirate of Abu Dhabi, in collaboration with Code Red Events and Exhibitions Company, and in presence of a number of senior officials of government and semi government departments in Abu Dhabi.H.E. Nasser Ahmed Al-Sowaidi, Chairman of the Department of Economic Development in the opening speech of Al barza delivered on his behalf by H.E. Mohammed Omar Abdullah, Undersecretary of the Department, said Our meeting today comes to underline the importance of integration and effective communication between all partners and stake holders in the Emirate of Abu Dhabi, and  to stress the belief that we are all marching on one the path to achieve development,. We are here to renew our allegiance and our determination to move forward in achieving the goals and aspirations of our wise leadership.His Excellency welcomed all participants in Abu Dhabi Barza, congratulating them on the holy month of Ramadan, opening the first session of Barza which will address issues relevant to the future of the Emirate of Abu Dhabi, as sought and set by the wise leadership and the Government to build a diversified sustainable economy, with real value-added, integrated into the world economy, and capable of providing a decent stable and secure life for the citizens.Al-Sowaidi pointed out that this meeting came the culmination of the earnest efforts of the Department of Economic Development to promote joint action and  cooperation, to ensure moving Abu Dhabi into new heights of success and progress, expressing hope that these Barza will turn into an annual platform  for decision-makers, senior officials and stakeholders to meet  at the same table,  to exchange  ideas and views on the reality and prospects for the emirate's economy, and shed light on issues that concern everyone in this beloved homeland.We in the Emirate of Abu Dhabi are following long-term plans set by the Abu Dhabi Economic Vision 2030, based on the judicious vision of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and Ruler of the Emirate of Abu Dhabi (may Allah protect him), and the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces and Chairman of the Executive Council of the Emirate.HE Nasser Al-Sowaidi said that the booming and comprehensive development, enjoyed by the Emirate of Abu Dhabi, is not a coincidence, but is the product of thoughtful vision and planning  which is supported  followed-up and guided  by the prudent leadership of the emirate. He stressed that the economy of the Emirate of Abu Dhabi in particular and the UAE in general, gave the example of the unique model of political and economic stability, in the light of the regional and international wave of unrest and political and economic complexities.H.E noted in this regard that the last of these International disorders was the sovereign debt crisis, which affected the economies of super powers in the world, and the United States of America. We readin the newspapers that Standard Poor’s downgraded the U.S. credit rating for the first time one notch below AAA, which is an unprecedented step since the establishment of this agency in 1941, not even in the wake of the global financial crisis.His Excellency the Chairman  of the Department of Economic Development, in his speech sai that these crises have shown, beyond any doubt, the soundness  of the emirate's economy and its ability to deal efficiently with  economic crisis and changing variables. We are in the Department of Economic Development hold our responsibility to lead the economic system in the Emirate of Abu Dhabi, and implement the ambitious vision of our government, in partnership with all stakeholders, through a clear strategy and integrated action plan, dedication and to promote the status achieved by the emirate in recent years. Al-Sowaidi said.“Perhaps the data issued by the Statistics Centre- Abu Dhabi presents the best proof of the significant improvement that has occurred in the economy of the emirate, as GDP at current prices has increased to exceed AED 620 billion, achieving a growth rate of 15.9% compared to 2009.According to His Excellency, this performance was due to the growth of oil sector GDP by 29% in 2010, especially in view of the sharp rise in oil prices in global markets; as the average price per barrel of Murban crude went up from $ 63 in 2009 to about $ 80 per barrel n 2010; and the production of the emirate's oil, also increased with an average daily production of 2.3 million barrels per day in 2010, compared to 2.2 million barrels per day in 2009.Al-Sowaidi noted that non-oil GDP recorded a growth rate of 5.5% in 2010, compared to 1.3% in 2009; and that despite the high contribution of oil in GDP by 5% in 2010, however that contribution is  still less than 50% of  total for GDP for the second year in a row, which shows that the economy of the Emirate of Abu Dhabi made considerable progress in diversifying the economic base, in a manner consistent with the goals of 2030 Vision. AL-Sowaidi pointing out that the contribution of oil in the GDP of the Emirate of Abu Dhabi reached 49.7%, while the contribution of non-oil activities in GDP amounted to 50.3% in 2010.H.E. Nasser Al-Sowaidi, said that the deep analysis of such data,  confirms the progress and high growth rates achieved by manufacturing and financial and insurance institutions activities, where the contribution of financial institutions and insurance activity increased by 14.4%, which demonstrates that it has overcome the effects of the economic crisis, taking advantage of the restoration of deposit, and the ability to lend, surpassing the stage of contraction and lack of confidence following the repercussions  in the wake of the global crisis in 2009. Al-Sowaidi, said that manufacturing activity grew by 10.8% in 2010, after the 22% contraction experienced in 2009; which emphasizes the government's efforts exerted in promoting the sector and its development, as one of the pillars of sustainable development.Chairmain Al-Sowaidi, noted the achievements of the Emirate of Abu Dhabi, which maintained  the strength and durability of the emirate's, and the State economy amid the implications of regional and global political and economic crises, stressing the great efforts of Abu Dhabi to achieve the aspirations of the leadership,  in building  a sustainable economy based on knowledge.There is no doubt that the strategic vision of the Emirate of Abu Dhabi is, in essence,  represents a start  in the new era of sustainable development, based on the integration and balance between  the sectors of the local economy, and the development of  qualified national staff, and to support and enable the private sector to participate in the leadership of development. Al -Sowaidi said.At the end of his speech, His Excellency Nasser Ahmed Al -Sowaidi  expressed his thanks and gratitude to the participants in the Braze Abu Dhabi Ramadan Barza, and  to all attendees appreciating their concern and support for the initiatives and activities of the Department;  wishing them success  in exchanging their fruitful ideas and opinions.Mr. Ahmed Abu Ghaida Acting Director of Planning at the  Department  of Economic Development gave a presentation on Abu Dhabi Vision 2030, in  which he  highlighted the  Development as defined in the policy agenda which is meant  to make a further diversification of the productive base of the emirate's economy, and  create jobs of high value, especially for the citizens of the State; and promote the integration of Abu Dhabi in the global economy, through raising  the efficiency of the business environment; and focusing  on the principle of transparency to formulate policies based on the facts.Abu Ghaida said that Abu Dhabi is seeking, through the Vision 2030 to establish a sustainable economy and diverse based of activities with high value added, and  to encourages private enterprise  raise the degree of integration into the global economy (through the movement of goods, capital, knowledge, information, experience and skills ),  and to avail potentially better opportunities for all within the various areas of the emirate.The Abu Ghida  said that the analysisof of  the economic  performance and socio-economic  issues in the emirate and the various elements of the environment, refer to a series of important challenges to be overcome, in order to ensure the continuation of the economic successes achieved, and to build up on to achieve and sustainable growth, where these challenges fall within the sectoral growth areas, within the non-oil economy, regional development, fiscal and monetary policies, labor market, infrastructure, human and financial resources  of the business sector.Abu Ghaida explained that if the emirate's economy achieve growth in line in terms of quality and quantity with the aspirations of Vision (about 7% for  the economy as a whole and about 8.5% for non-oil, with a focus on activities with high value-added  knowledge-based and intensive use of capital and export-oriented), the structure of the economy in 2030 will become more diversified and sustainable with greater reliance on non-oil activities from the oil activities, with a rate of 64% for the first and 36% for the second.Abu Ghaida  added that real GDP will double  according to the vision of by about four times, and the emirate will be able by 2030 to achieve a balance with the outside world in the non-oil trade. He reported that in order to ensure sound  move towards achieving the aspirations of the vision, it is necessary to translate the long-term strategic plans  and economic programs of  the five-year plan order to provide a focused framework for economic policy over the medium term, in addition to the regular  and periodic assessment to gauge the extent of development that is achieved, and the opportunity to make the necessary adjustments.Abu Ghaida  added that it is very important to take into account the creation of the necessary link between the plans of the productive sectors (in particular targeted sectors) and plans of government departments and organizations, in order to achieve the required level of harmony and consistency between the enabling sectors the economy and the productive sectors.HE Abu Bakr Abdullah Alamoudi, Executive Director of the Statistics Centre- Abu Dhabi o gave a presentation in which explained the position of Abu Dhabi's economy as well as a number of other areas referred to by the Abu Dhabi Economic Vision.
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