UAE – Mubasher: The Abu Dhabi Department of Economic Development (ADDED) partnered with the Abu Dhabi Investment Office (ADIO) to organise the third edition of Al Multaqa quarterly meetings.

The gathering provided the business community with recent updates on the Emirate’s economy and achievements in the first half (H1)of 2024, according to a press release.

Ahmed Jasim Al Zaabi, Chairman of ADDED, said: “Abu Dhabi’s transformation to a smart, diversified, and sustainable economy, driven by “Falcon Economy” initiatives, has established the Emirate as a preferred destination for talents, investments, and businesses.”

“This is reflected by the recent census results, indicating a growth of non-oil sectors by 59% in a decade to contribute 54% to the GDP compared to 46% in 2011, an increase of high-skilled talents by 109%, and foreign investments by 300%,” Al Zaabi continued.

In recent years, Abu Dhabi's non-oil sectors witnessed powerful performance, with construction growing by 22.60%, finance and insurance activities by 39%, and the manufacturing sector by 102% in the past decade.

Driven by the Abu Dhabi Industrial Strategy (ADIS), the industrial sector jumped by 21.70% from AED 83 billion to AED 101 billion in 2023 since ADIS was launched in 2022.

Abu Dhabi’s manufacturing sector represents 51.30% of the UAE industrial sector’s GDP, which increased to AED 197 billion in 2023. This is compared to a contribution of 46% to the country’s industrial sector in 2022.