First Abu Dhabi Competitiveness Report issued

Abu Dhabi, May 6, 2013 (WAM|) - Competitiveness Office of Abu Dhabi (COAD), a subsidiary of Abu Dhabi Department of Economic Development (ADDED) has issued the first competitiveness report, which aims to improve the business climate in the Emirate of Abu Dhabi. The report covers three regions of the Emirate of Abu Dhabi: Abu Dhabi, Al Ain and the Western Region. The report was disclosed during a ceremony held yesterday at Hyatt Park Hotel in Abu Dhabi. The event was graced by Nasser Ahmed Al Suwaidi, Chairman of ADDED, Moghair Al Khaili, Director General of the Abu Dhabi Education Council, Mohammed Omer Abdullah, Under Secretary of ADDED and a number of senior officials. It aims to measure the competitiveness of the Emirate of Abu Dhabi through a number of global benchmark and highlight the main challenges and success factors of the emirate from the competitiveness perspectives, and make recommendations to address these challenges and improve the competitive position of the current competitive status through adoption of initiatives of the Government of Abu Dhabi and achieve full production capacity. A number of strategic partners including The Abu Dhabi Chamber of Commerce and Industry, Abu Dhabi Council for Economic Development, Abu Dhabi Committee for Technology Development, the Abu Dhabi Authority for Tourism and Culture, the Municipality of Al Ain City, Khalifa Fund for Enterprise Development, The National Bureau of Statistics and Statistics Centre - Abu Dhabi and the Western Region Development Council. Nasser Al Suwaidi, ADDED's chairman, said the report will enhance competitive environment for the emirate. "In the light of regional and international competiveness and ambitious objectives of the Abu Dhabi leadership that aspires to make Abu Dhabi as a regional business and investment hub, the ADDED has to review the competitive specifications of the Abu Dhabi Emirate economy." Mohammad Omar Abdullah, ADDED's undersecretary, said the launch of the report coincides with a number of important government initiatives, noting that the economy should be diversified so that developing sectors can provide a fixed contribution to GDP. He underlined that the commitment of ADDED to implement the roadmap chalked out by President His Highness Sheikh Khalifa bin Zayed Al Nahyan and followed up by His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. "Abu Dhabi has the highest standard of living relative to global standards and benchmarking. When adjusting the GDP on oil and gas, the rest of other sectors combined account for 40 per cent of the economy, which raises the importance of diversification for the Emirate," the reported revealed. It added that the growth in non-oil sectors in the local economy, especially the high skill goods and services, is quite essential for the long-term sustainability, as Abu Dhabi plans to be less dependent on hydrocarbons in the future." according to the report. The report noted oil and gas sectors still contribute significantly to the Emirate of Abu Dhabi's GDP by 60 per cent, while employing less than 15 per cent of the population. Amongst the main success of the Emirate of Abu Dhabi were the establishment and development of free economic zones with logistic services and suitable industrial parks and cities including KIZAD. The report stressed that there are four areas in Abu Dhabi with varying industrial activities: manufacturing, agricultural processing, chemicals, building materials, technological and environmental industries. - Emirates News Agency, WAM