In a competitive environment in the region, the UAE capital is diversifying the economics and opening new enterprises aiming to increase the contribution of the industrial sector to GDP.
In the first quarter this year, 27 new production companies were launched in Abu Dhabi. It is planned to open another 90 companies by the end of 2023 and another 100 companies - by 2024.
In 2022, the contribution of the industrial sector to the emirate's GDP increased by 9.7% and amounted to $24.7 billion. This figure is planned to be doubled to $46.8 billion to comply with the Operation 300bn Strategy focused on increasing the contribution of the industrial sector to GDP by 2031.
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Reuters, July 19, 2023