Abu Dhabi Economic Vision 2030

by Zaara 04, Jan 2021

Abu Dhabi Economic Vision 2030

The past years have been a witness to the evolutionary mindset of the United Arab Emirates, which has proved its caliber in fields like infrastructure development, international relations, socio-cultural development, and business incorporation in the UAE. This progress can widely be accredited to the administrative frameworks and policies set by the government, who ambitiously sought to put UAE on the global map for being a progressive nation. Similarly, walking in the footsteps of evolutionary development, the government of Abu Dhabi has decided to implement the Abu Dhabi Vision 2030 under the leadership of Sheikh Mohammed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Since Abu Dhabi is not only the capital of the UAE but also a beacon for development that inspires neighboring emirates as well, the Abu Dhabi Vision 2030 implementation plan has also been actively supported and sponsored by His Highness Sheikh Khalifa bin Zayed Al Nahyan, UAE President and Ruler of Abu Dhabi. Since the plan aims to achieve diverse economic stability to ease the process of business setup in Abu Dhabi, some core decisions had to be made by the leaders. The overall plan has been bifurcated into two main objectives, which constitute sub plans in their own respect. These are considered as the pillars of the broader vision at hand. The two pillars of the Abu Dhabi Vision 2030 are –

  1. Economic Vision 2030
  2. Urban Planning Vision 2030

Economic Vision 2030

We are all aware of the middle east regions being a hub for the oil business. That makes UAE no less of a player in the global oil economy, considering how valuable resources like petroleum and oil are for all countries. But in recent years, Emirates, like Abu Dhabi and Dubai have been experiencing an upscale in the growth of various business sectors, thus, is the reason why many business owners are opting for company formation in UAE. A few important business sectors that have become more substantial contributors to the previously oil sector dominated economy are – Tourism and Hospitality sector, Education sector, Business Services, Financial Services, and the Technology Innovation Sector.

Considering a bright and prospective future for a diversified economy in coalition with foreign entrepreneurs, innovators, multi-tier investors, and multinational corporate conglomerates; the Abu Dhabi Council for Economic Development (ADCED) outlined a plan of action which was embedded as the Economic Vision in the implementation plan of the Abu Dhabi Vision 2030. This move will help Abu Dhabi to develop a globalized culturally competent economy promoting modern-day concepts of sustainability, enterprise innovation, and cohesive growth with public-private partnerships as well as entrepreneurial ventures. This venture will significantly impact the process of business setup in Abu Dhabi.

Urban Planning Vision 2030

The Abu Dhabi Urban Planning Council (UPC) is the authority necessary for developing the Urban Planning Vision as part of the overall Abu Dhabi Vision 2030. The aim is to provide high-quality living standards in terms of community planning and infrastructure to suit the cultural shift and population demographic growth that Abu Dhabi has experienced in recent years. With a goal to develop sustainable smart cities, the government is focusing on increasing infrastructure capacity to support business setup in Abu Dhabi, along with ensuring that the new plan will incorporate usage of renewable sources of energy such as solar power and hydroelectric power. The overall aim is to create concrete plans and feasible policies to ensure Abu Dhabi emits the radiance of a modern-day 21st century Emirate that is the proud capital of the United Arab Emirates.

How can Commitbiz Help?

We at Commitbiz comprise a team of industry professionals who cater to several businesses in the UAE with an overall experience of 15 plus years in the Emirati market. Our services comprise business setup in the UAE, company secretarial services, accounting and bookkeeping services, and nominee director services. We strive to provide entrepreneurs with an overall package of administrative services to simplify their journey from inception to incorporation in the UAE market. Contact us to know more and expand your business in the middle east.