With fixed investment expected to double and sustained growth in the years to come,Abu Dhabi economy is set to attract over Dh1 trillion in local and foreign capital, according to a new report issued by Abu Dhabi Chamber of Commerce and Industry (ADCCI).
ADCCI Director General Ahmed Al Mansouri said increase in the fixed investment in the emirate during the current year were outpaced figures registered for the recent year by 400 per cent with total accumulated investment reaching around Dh 295 billion for the years 2001 to 2006.
''These figures stand testimony to the dynamism, vibrancy and resilience of the emirate's economy and its capacity to lure in more local and foreign investment thanks to sound policies adopted by the emirate's government,''he added.
Abu Dhabi's business philosophy, he said, revolves around optimum utilisaition of oil revenues,forging constructive public-private partnership, creating fertile investment ground for local, regional and global investors, introducing new flexible laws, diversifying economic base in order to achieve sustainable development.
He noted that the booming construction and building sector is projected to establish itself as the most magnetic business sector in 2007 with total inward investment growing by 346 per cent to Dh 580 billion against the previous figure of Dh 130 billion.
Second in line is the tourism sector whose investment is expected to see whopping growth of 820 per cent to more than Dh 230 billion.
''Manufacturing industries sector is set to lure Dh 130 billion in next years and Dh 12 billion in the current year, an increase of 39.5 per cent over 2005,''he indicated.
According to ADCCI chief, Dh 2.4 billion were expected to be pumped by investors in the wholesale/retail trade sector against Dh 1.4 billion in 2005.
The restaurants and hotels sectors, he continued, could see a 50 per cent growth in investment, rising to Dh 3.9 billion in 2007 from Dh 2.6 billion in 2005.
As for the real estate and business services, an estimated amount of Dh 6.8 billion is set to be ploughed. The figure represented an increase of 78.9 per cent over 2005.
In 2007, the social and private services sector is set to receive a total investment of Dh 2.5 billion compared with Dh 2 billion in 2005.
Al Mansouri put the total value of foreign investor's portfolio in the emirate at Dh 420 billion. Source
ADCCI Director General Ahmed Al Mansouri said increase in the fixed investment in the emirate during the current year were outpaced figures registered for the recent year by 400 per cent with total accumulated investment reaching around Dh 295 billion for the years 2001 to 2006.
''These figures stand testimony to the dynamism, vibrancy and resilience of the emirate's economy and its capacity to lure in more local and foreign investment thanks to sound policies adopted by the emirate's government,''he added.
Abu Dhabi's business philosophy, he said, revolves around optimum utilisaition of oil revenues,forging constructive public-private partnership, creating fertile investment ground for local, regional and global investors, introducing new flexible laws, diversifying economic base in order to achieve sustainable development.
He noted that the booming construction and building sector is projected to establish itself as the most magnetic business sector in 2007 with total inward investment growing by 346 per cent to Dh 580 billion against the previous figure of Dh 130 billion.
Second in line is the tourism sector whose investment is expected to see whopping growth of 820 per cent to more than Dh 230 billion.
''Manufacturing industries sector is set to lure Dh 130 billion in next years and Dh 12 billion in the current year, an increase of 39.5 per cent over 2005,''he indicated.
According to ADCCI chief, Dh 2.4 billion were expected to be pumped by investors in the wholesale/retail trade sector against Dh 1.4 billion in 2005.
The restaurants and hotels sectors, he continued, could see a 50 per cent growth in investment, rising to Dh 3.9 billion in 2007 from Dh 2.6 billion in 2005.
As for the real estate and business services, an estimated amount of Dh 6.8 billion is set to be ploughed. The figure represented an increase of 78.9 per cent over 2005.
In 2007, the social and private services sector is set to receive a total investment of Dh 2.5 billion compared with Dh 2 billion in 2005.
Al Mansouri put the total value of foreign investor's portfolio in the emirate at Dh 420 billion. Source
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