In accordance with the major economic indicators of Abu Dhabi is currently enjoying a favorable economic conditions, which accelerated the pace of economic growth and have an average per capita income is among the highest in the world, along with the standard of living and health of citizens and residents in Abu Dhabi is better than it was at any time in the past, which is behind This is all that oil - as the main export commodity of the Principality - is a period of strong demand and growing, achieving high prices and providing more ways of development and progress of the emirate, and provide the conditions for Abu Dhabi, the opportunity to ensure prosperity in the long term through the use of existing resources to build a stable and sustainable economy, and Abu Dhabi this regard need to evaluate the structure of its economy and identify the modifications and improvements that can be created.
Coupled with economic growth at the present time oil prices more closely, while access to sustainable development requires non-oil sectors to stimulate and diversify the range and depth of economic activities in the emirate, as well as work to increase productivity by focusing on the competitive advantages enjoyed by Abu Dhabi.
The trend towards diversification
Since the sixties of the last century represented the oil industry the main engine of development in the Emirate of Abu Dhabi, the emirate hosting the sixth largest oil reserves in the world, certainly, and about 98 billion barrels, which is ranked tenth in the list of the largest producers of oil by about 2,5 million barrels per day, mostly for export is estimated to This provides more of the Principality of 90 billion dollars annually from the current rates of income.
The emirate has invested in the development of this income key areas of the economy and the provision of services required by the pattern of modern life, so the crude oil plays a key role in the development of the local economy, and also contribute to the vital role played by the emirate's global economy, and as a result of this oil wealth, the Abu Dhabi one of the largest world exporters of goods and services, which make it the largest global economies are linked through trade, and the United Arab Emirates is one of the members of the Organization of Petroleum Exporting Countries (OPEC) and is therefore an effective role in maintaining security and stability of oil supplies and prices in world markets.
Abu Dhabi has become over the past decade one of the fastest growing economies in the world, the growth rate of GDP in 2006, about 12? After he was promoted to 19,4? In .2004
Despite the strong population growth resulting from the influx of foreign labor and birth rates across the high among the citizens, the per-capita gross domestic product at a remarkable pace, has seen per capita real GDP growth rate of 20 large? Within four years only, up to 55,066 dollars in 2005, which made the emirate in the higher-income economies in the world.
As a result, only become citizens and residents in the Emirate of Abu Dhabi, with one of the highest living standards in the region, and, if evaluated separately, the emirate will be in place within thirty human development index of the development program of the United Nations, noted that the indicator is the quality of living conditions in 178 countries , on the basis of life expectancy, educational attainment, and the illiteracy rate and purchasing power, despite these promising trends, economic growth is suffering from a high degree of volatility, and that volatility seems to be significantly higher when compared to the Abu Dhabi Group of Seven countries and countries with emerging economies, and even the countries of the Council GCC and it is not surprising that the key role played by oil in the economy means that the GDP growth is highly sensitive to fluctuations in oil prices.
However, the economy is now less susceptible to fluctuations than it was two decades ago, when the percentage of fluctuation of up to 31? In any case, despite the decline in the proportion of volatility to 8? During the past decade, economic planners, however, they do not have enough tools or indicators for the formulation of optimal policies for the market, while Abu Dhabi is currently enjoying high growth rates, it is still not possible to guarantee the continuation of the active growth from year to year, that is, There are guaranteed to reduce the volatility, with the result, it is necessary to develop the Emirate of Abu Dhabi patterns of growth is much higher than that of sustainability, and the Principality of which can guarantee the economic development of the successive periods of prolonged, allowing the possibility of mitigating the effects of external shocks such as fluctuations in the prices of oil and other emergency trauma, and has contributed to the sectors of mining, quarrying and energy, particularly the oil and gas extraction, by increasing the gross domestic product of the emirate over the past decade, rising from 44? In 1995 (the period which witnessed a decline in oil prices relatively) to 59% in the year 2005, the economy has become more dependent necessarily on the rise in oil prices in global markets, and in fact, the high proportion of the oil sector in GDP means that Abu Dhabi is one of the most highly concentrated in the GCC countries, while it appears that the economy of the State of Qatar is the only least diversified.
The need for a more sustainable economy
To bring the picture, Norway - which produces similar quantities of oil to those produced by the Abu Dhabi - no more than the contribution of the sectors of mining, minerals and energy in the gross domestic product to 24? Although the oil sector is the largest contributor to the economic activity in both Norway and Abu Dhabi, but his dominance of the economy in Norway, much lower than in Abu Dhabi.
In the same way, the employment in Abu Dhabi was also suffering from the global concentration in certain sectors, where the sector contributes to the construction and government services to more than half of the posts available, and works for about 13? Of the labor force in the trade sector, restaurants and hotels, while these sectors are also showing high levels of volatility in the growth, the concentration of double GDP and employment in certain sectors of Abu Dhabi makes the risk of economic fluctuations, in short, the focus of this type of employment and economic vulnerability to the vagaries of the economy through Dubai is vulnerable to the impact of shocks that could be exacerbated by such a concentration.
There is a clear link between the obvious and economic diversification and sustainability, and therefore the road towards sustainability begins with the diversification and, in fact, as soon as Abu Dhabi is to achieve greater diversification by stimulating non-oil sectors, especially export-oriented business, the volatility in economic growth will begin to back down .
However, the diversification of sectors alone is not necessarily sufficient, in the Emirate of Abu Dhabi, the non-oil sectors are also reveals the sensitivity to oil prices, because they tend towards their home and went to the local economy, making them dependent on domestic liquidity, when oil prices are high, increasing the availability of funds that support the growth in these sectors, but when prices are low and moderate financial liquidity, we find that the non-oil sectors growing at rates slow.
Perhaps this is what explains the excessive sensitivity of Abu Dhabi, compared to their fluctuations, and therefore should be directed towards economic diversification of the export sectors to the overall growth of the separation of volatile oil prices, the objective is, is looking forward to Abu Dhabi to stimulate non-oil sectors, rather than reducing the activity in the oil sector and as one a major producer of crude oil, the Emirate of Abu Dhabi is committed to supporting the global economy through its role to play in ensuring the stability of oil prices and supply, and therefore the oil sector will continue to grow rapidly, and the Emirate of Abu Dhabi will continue to use oil wealth to support local economic growth and to move it, and assuming the continuation of the oil sector growth, according to historical growth rates, the Abu Dhabi by the year 2030 aims to raise the contribution of non-oil sectors - including the petrochemical sector - in the gross domestic product to 64?, and to fully transform the current structure of the contribution of the sectors in the gross domestic product .
Broaden the base of enterprise
Analysis reveal about the emerging private sector in the Emirate of Abu Dhabi for a reasonable proportion between the large and small enterprises, and the disproportionate distribution of employment, and vary the proportion of large to small projects in the Emirate of Abu Dhabi, to some extent on the rate prevailing in the economies of comparison, in particular Ireland and Norway.
In the same vein, the distribution of posts within the institutions of all sizes is similar to that in these economies, despite the fact that large enterprises have gained an increasing share of human capital since .1995
In any case there is a weakness in the economic balance between the production of small and large institutions, which is largely related to the dominance of the oil sector, focused contribution to the gross domestic product in more large-scale enterprises, which indicates the existence of the possibility to enhance the productivity of small and medium-sized enterprises, and in most Group of Seven economies attract small and medium enterprises on a larger share of the gross domestic product compared with the capture by large enterprises.
In this context, the development of the SME sector would provide a place for the Emirate of Abu Dhabi, similar to the status of the countries of comparison, and at the same time to reduce the vulnerability of the economy at risk, and to promote innovation as well as providing new jobs.
To achieve maximum competitive
Despite the substantial increase (40%) in per capita gross domestic output over the past decade, but this figure does not reveal all the details of an image, productivity of work - represented in the share of income per employee - has grown significantly in the oil sector, thanks to high prices, and within the manufacturing sector, but these gains are concealed behind a decline in the productivity of other sectors, and in fact, the decline in the productivity of other non-oil sectors, reversed some of the gains made by oil and manufacturing industries, where the productivity of these sectors witnessed a combined increase by 60? Over the past decade, in addition to that there is a wide gap in productivity between the small and medium-sized and large enterprises on the other hand, once again, this is due mainly to the contribution of the oil sector, which is dominated by large enterprises, making the labor productivity in this sector reported the highest than in large enterprises in most other countries, but at the same time, the low labor productivity appears to a large extent in the sector of small and medium enterprises, suggesting that the smaller enterprises in Abu Dhabi do not have the same degree of competitiveness of the counterparts in other countries.
And through the transfer of employment of low-productivity sectors such as the government sector and the construction sector, and guide the work force to the sectors that are much higher than the production industries, such as high-value-added, the total production will witness a growth and improvement, and can also improve labor productivity through investment in the areas of training and technical development and production methods, and the improvement of productivity in other sectors of the economy that would bring great benefits for the competitive capacity of the economy, and enhance economic well-being and reduce the vulnerability of the economy fluctuations in oil prices.
Building a balanced regional economic development and social
Economic success has entailed a strong population growth, and the Abu Dhabi to ensure the participation of all residents of the emirate to take advantage of the benefits of social and economic development.
Kdy of rapid economic growth has led to an unprecedented surge in the size of the population of the Emirate of Abu Dhabi, and in fact, a doubling of the population in the emirate during the two decades alone, as a result of high birth rates and improve the health conditions of citizens, and also the result of the influx of foreign labor in search of work in an economy growing of the Principality, but the bulk of the population of Abu Dhabi to provide a greater opportunity of providing the necessary manpower to fill the jobs in the economy of the twentieth century and the atheist, and Abu Dhabi plans to ensure their citizens to acquire skills and knowledge necessary tools to meet the challenges of the future.
At the same time, it is important that the government is working to monitor the social impacts arising from the development, the emirate should also seek to ensure that encourage the participation of all sectors of society are not represented sufficiently in the economy - such as women - in the process of economic and social progress, and will be achieved by providing better access to education and employment, along with the various development initiatives aimed at establishing a more balanced development in different parts of the emirate.
The development of national resources in Abu Dhabi
Abu Dhabi is the population of citizens - young people who constitute the largest proportion of them - one of the best features available to the Principality, since they represent the wealth of human capital necessary to meet the challenges of the future, and not more than two-thirds of people age 24 years, while under the age of fifty-some of them 15 years , and the proportion of young people is higher than those prevailing in the countries of comparison. We will build these young people the future of the emirate, as they will contribute to more economic power in the future of Abu Dhabi.
The emirate is seeking to ensure the readiness of these young people and the subsequent generation of the entry into the labor force over the next two decades to meet the competitive global economy based on knowledge, in order to contribute actively in the process of economic and social development in the emirate, and to help in advance.
Economic vision
Represent the optimal use
Of oil revenues
Bassam Abdul Samee
ABU DHABI - The price of a member of the Council of the Chamber of Commerce and Industry, Abu Dhabi, Hamad Al-Awadi launch economic vision of the Government of Abu Dhabi, 2030, pointing out that these initiatives put Abu Dhabi on the world map, not only in the political sphere but in all areas, to Abu Dhabi to be a global economic player.
Al-Awadi said that reliance on a single supplier and one representing the greatest challenge for the Gulf states, noting that that vision is a long-term strategy to alleviate the reliance on one source of income is''oil''.
He referred to the initiative of His Highness the Crown Prince of Abu Dhabi in partnership between the private sector and government, to the private sector in Abu Dhabi Dorkber support economic projects in the side of the government.
He described the economic vision of Abu Dhabi 2030 to represent the optimal use of oil prices in the previous period, indicating that the vision to support the building of alleged knowledge-based economy, sustainability, and the shift from short-term economic plans for long-term plans to guide all sectors of the Emirate of growth
The legislation, which was published in the past few months has created a strong economic institutions that support the strategy, including the Abu Dhabi Economic Council and the Chamber of Commerce and the Department of Planning and Economy. He added that such legislation has led to the availability of a suitable environment to attract foreign investment, emphasizing that such legislation were flexible and appropriate for the economic changes, which provided a business environment capable of integration into the global economy.
She drew to the development of the emirate in the field of infrastructure, which has led to attract more foreign investments to Abu Dhabi, said that under the vision of contributing to the continued development of the economy of the Emirate