HE Nasser Ahmed Al Sowaidi, Chairman of Abu Dhabi Department of Economic Development said that the allocations announced by the Executive Council of the Emirate of Abu Dhabi, which will be pumped into the emirate's economy during the next five years reflect the success attained by Abu Dhabi, fueled by the prudent leadership, and its keenness and persistence to achieve sustainable development as per the determinants of Abu Dhabi Economic Vision 2030 aimed at reducing dependence on oil and gas revenues and diversifying the economy.H.E Al sowaidi commented on the decisions of the Executive Council’s last meeting under the chairmanship of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, in which AED 330 billion were allotted to capital projects. Al Sowaidi hailed the decision as an effective approach to channelize direct investments into various sectors and non-oil activities in particular.“No doubt that this generate maximum benefits and ensure long-term sustainability of economic development, in line with the directives of His Highness Sheikh Khalifa bin Zayed Al Nahyan, the President of the UAE, and the unrelenting guidance of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces” Al Sowaidi said. Nasser Al Sowaidi added that the Executive Council of the Emirate of Abu Dhabi lays great emphasis on the private as a key partner in economic development, and that it will benefit from these investments which are pumped in the economy of the emirate. Private establishments and companies constitute the executive hand in implementing the development projects, for which these huge resources were allocated. H.E. Al Sowaidi pointed out that the announcement of these provisions will have the greatest positive effects in reviving markets and increasing growth, which will reflect on the development path of the emirate.His Excellency noted that investors and leading economists have become aware today that the Emirate of Abu Dhabi, is thoughtfully and confidently establishing itself as an investment destination of choice for local, regional and global investments; and that the balanced economic growth in the emirate progresses according to consistent and sound plans, in an economy able to surpass obstacles and crises.Al Sowaidi added: “This is proven by the national economy as it quickly bypassed the global financial crisis that hit the world a few years ago. It is clearly evident that Emirate's economic policy pursued by Abu Dhabi able, proved its success, and brought about great benefit for the society and the business community”.As for the labor force, HE Nasser Al Suwaidi said, that Council allotted provision necessary for the creation of new job opportunities in the emirate, which exceed 5000 jobs, noting in this context that these jobs are not linked to the financial allocations allotted for capital projects in the next five years, Jobs that will be created by major projects that will be implemented exceed this figures, as the private sector will absorb large numbers in the new projects during the coming period.HE explained that government spending has long been one of the main engines of Economy, and a key and factor in economic growth, due to its role activating the different economic sectors, which increases job opportunities, enhances the competitiveness of the economy and promotes the investment environment. These elements work in an integrated manner to promote sustainable development and further economic prosperity.HE Nasser Ahmed Al Suwaidi, Chairman of the Department of Economic Development concluded his statement by saying, “Abu Dhabi today takes big strides towards the future, and ably moves towards entrenching its leadership and excellence at various social and economic levels”.