Abu Dhabi will invest $13.6bn (AED50bn) over three years to grow the economy, create thousands of jobs, boost tourism and construction projects, and slash building costs.
HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Chairman of Abu Dhabi Executive Council, announced a huge stimulus package and 10 initiative to accelerate economic growth in the UAE over the next three years.
To increase tourism numbers, HH Sheikh Mohamed bin Zayed Al Nahyan called on developers to build eco-tourism destinations, camping sites, and sports areas.
| Advertisement |
HE Mohamed Khalifa Al Mubarak, chairman of the Department of Culture and Tourism – Abu Dhabi, said: “Echoing the leadership’s foresight and vision, the AED50 billion stimulus announcement by Sheikh Mohammed bin Zayed is highly significant given its direct impact on the government’s strategy to diversify the economy and further grow non-oil sectors. This recent directive reiterates the pivotal role that the tourism sector continues to play, especially in introducing Abu Dhabi to the world as a global destination for not only short-term visits, but also for investment and long-term stays."
Al Mubarak added: "Given its mandate to establish Abu Dhabi’s position as a destination of distinction, the Department of Culture and Tourism – Abu Dhabi acknowledges the responsibility bestowed upon it to fulfil this directive and work towards bolstering the Emirate’s cultural and eco-tourism offerings. Along with our partners, we have devised effective initiatives and programmes to build an industry that can provide impetus for economic growth and social development. As we move forward, we will continue our efforts to attract an increasing number of tourists to the Emirate for extended periods of time."
He also called for new policies within six months to support public-private partnerships in Abu Dhabi.
Dual licenses for companies operating in Abu Dhabi's four free zones will also be made available to let firms work outside of free zones and participate in government tenders.