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HE Rashed Abdulkarim Al Blooshi, Undersecretary, Abu Dhabi Department of Economic Development, on sustainable economic development
23 JULY 2024
923
By His Excellency Rashed Abdulkarim Al Blooshi, Undersecretary, Abu Dhabi Department of Economic Development
Today, Abu Dhabi is undergoing an economic transformation, with the Abu Dhabi Department of Economic Development (ADDED) driving forward a vision that will future-proof the Emirate for generations to come. Charting a course toward a more sustainable future, Abu Dhabi is leveraging its advanced infrastructure and seamless synergy between government entities and the private sector. ADDED is relentlessly working to enhance economic diversification and build sustainable growth in a way that ensures Abu Dhabi’s economy benefits all who live and work across the Emirate.
Abu Dhabi’s visionary leadership has long acknowledged the need to diversify its economy, shift to a knowledge-based one, and build a truly sustainable future. The Emirate’s multi-faceted approach is nurturing key growth sectors, investing in emerging tools and technologies and fostering innovation across the entire economic ecosystem.
A diversified economy and renewable energy
Renewable energy is a critical component of a sustainable future and one of ADDED’s key areas of focus. ADDED supports research and development in this field, attracting investments and encouraging the growth of clean energy companies. Similarly, it recognizes the importance of advanced technologies as a driver of economic growth. By fostering a tech-friendly ecosystem, ADDED is attracting and retaining skilled professionals, positioning Abu Dhabi as a hub for innovation.
ADDED has collaborated with several local and international partners to extend the Emirate’s sustainability efforts further. This significant shift toward a non-oil economy is the key contributor to the Emirate’s economy, and today the non-oil sectors comprise almost 54% of Abu Dhabi’s GDP.
A circular economy
At the heart of ADDED's sustainability strategy lies the circular economy concept, which it has introduced through a comprehensive framework for the industrial sector. This framework will significantly reduce industrial waste and promote responsible resource utilization. The industrial circular economy policy framework sets ambitious targets, including a 50% reduction in industrial process waste, equivalent to at least 40,000 tonnes annually. It will encompass key sectors, ensuring 100% compliance by 2030, with the plastic manufacturing sector achieving 100% compliance by 2025. This transition benefits the environment and opens avenues for cost reduction and enhanced efficiency within businesses.
A vibrant SME scene
To ensure a balanced, inclusive and sustainable business ecosystem, ADDED fosters an entrepreneurial environment that enables the development of innovative solutions particularly those focused on environmental sustainability and social impact. This is achieved through incubators and accelerators that provide support and resources to startups in strategic sectors, while prioritizing those that address environmental challenges, promote resource efficiency and contribute to the Emirate’s circular economy. SMEs comprise over 90% of businesses in Abu Dhabi, employing more than 46% of the workforce and contributing more than 42% to Abu Dhabi’s non-oil GDP, which further underscores the Emirate’s nurturing business environment and strong support for SMEs.
Smart and sustainable transportation
Led by ADDED, Abu Dhabi has been heavily involved in transforming the transportation sector by adding smarter and more sustainable means of transportation. In Q2 2024, ADDED announced investment opportunities worth AED11 billion in transportation industries, especially after the launch of the Smart and Autonomous Vehicle Industry (SAVI) cluster in 2023.
It has also inked several agreements to boost the manufacturing and assembly of electric commercial vehicles (ECVs) in Abu Dhabi and enhance innovation within the Emirate’s automotive, mobility and transportation sectors. ADDED is leveraging the benefits of public-private partnerships to deliver future-proofed infrastructure, renewable energy projects and knowledge-sharing initiatives.
Building a Sustainable Future
Abu Dhabi's economic transformation is a work in progress, but the commitment to sustainability is evident in ADDED's initiatives. It lays the groundwork for a prosperous and environmentally responsible future for the Emirate by promoting diversification, innovation, and a circular economy.
Abu Dhabi has acknowledged that the transition to a sustainable economy requires a skilled and adaptable workforce. This is where the Golden Visa program plays a crucial role in attracting and retaining top-tier professionals and sustainability thought leaders from around the world. This visa ensures that the brightest minds are contributing to the Emirate's vision for a greener and more sustainable future, particularly those with expertise in clean technologies, renewable energy and environmental sciences.
These experts bring with them the skills, knowledge and innovative thinking necessary to drive forward Abu Dhabi's sustainability goals, making the Golden Visa an integral part of the Emirate’s transformative journey toward a sustainable future.
As ADDED continues its efforts, Abu Dhabi further cements its position as a regional and global leader, demonstrating that economic success and environmental responsibility can go together.
Today, Abu Dhabi is undergoing an economic transformation, with the Abu Dhabi Department of Economic Development (ADDED) driving forward a vision that will future-proof the Emirate for generations to come. Charting a course toward a more sustainable future, Abu Dhabi is leveraging its advanced infrastructure and seamless synergy between government entities and the private sector. ADDED is relentlessly working to enhance economic diversification and build sustainable growth in a way that ensures Abu Dhabi’s economy benefits all who live and work across the Emirate.
Abu Dhabi’s visionary leadership has long acknowledged the need to diversify its economy, shift to a knowledge-based one, and build a truly sustainable future. The Emirate’s multi-faceted approach is nurturing key growth sectors, investing in emerging tools and technologies and fostering innovation across the entire economic ecosystem.
A diversified economy and renewable energy
Renewable energy is a critical component of a sustainable future and one of ADDED’s key areas of focus. ADDED supports research and development in this field, attracting investments and encouraging the growth of clean energy companies. Similarly, it recognizes the importance of advanced technologies as a driver of economic growth. By fostering a tech-friendly ecosystem, ADDED is attracting and retaining skilled professionals, positioning Abu Dhabi as a hub for innovation.
ADDED has collaborated with several local and international partners to extend the Emirate’s sustainability efforts further. This significant shift toward a non-oil economy is the key contributor to the Emirate’s economy, and today the non-oil sectors comprise almost 54% of Abu Dhabi’s GDP.
A circular economy
At the heart of ADDED's sustainability strategy lies the circular economy concept, which it has introduced through a comprehensive framework for the industrial sector. This framework will significantly reduce industrial waste and promote responsible resource utilization. The industrial circular economy policy framework sets ambitious targets, including a 50% reduction in industrial process waste, equivalent to at least 40,000 tonnes annually. It will encompass key sectors, ensuring 100% compliance by 2030, with the plastic manufacturing sector achieving 100% compliance by 2025. This transition benefits the environment and opens avenues for cost reduction and enhanced efficiency within businesses.
A vibrant SME scene
To ensure a balanced, inclusive and sustainable business ecosystem, ADDED fosters an entrepreneurial environment that enables the development of innovative solutions particularly those focused on environmental sustainability and social impact. This is achieved through incubators and accelerators that provide support and resources to startups in strategic sectors, while prioritizing those that address environmental challenges, promote resource efficiency and contribute to the Emirate’s circular economy. SMEs comprise over 90% of businesses in Abu Dhabi, employing more than 46% of the workforce and contributing more than 42% to Abu Dhabi’s non-oil GDP, which further underscores the Emirate’s nurturing business environment and strong support for SMEs.
Smart and sustainable transportation
Led by ADDED, Abu Dhabi has been heavily involved in transforming the transportation sector by adding smarter and more sustainable means of transportation. In Q2 2024, ADDED announced investment opportunities worth AED11 billion in transportation industries, especially after the launch of the Smart and Autonomous Vehicle Industry (SAVI) cluster in 2023.
It has also inked several agreements to boost the manufacturing and assembly of electric commercial vehicles (ECVs) in Abu Dhabi and enhance innovation within the Emirate’s automotive, mobility and transportation sectors. ADDED is leveraging the benefits of public-private partnerships to deliver future-proofed infrastructure, renewable energy projects and knowledge-sharing initiatives.
Building a Sustainable Future
Abu Dhabi's economic transformation is a work in progress, but the commitment to sustainability is evident in ADDED's initiatives. It lays the groundwork for a prosperous and environmentally responsible future for the Emirate by promoting diversification, innovation, and a circular economy.
Abu Dhabi has acknowledged that the transition to a sustainable economy requires a skilled and adaptable workforce. This is where the Golden Visa program plays a crucial role in attracting and retaining top-tier professionals and sustainability thought leaders from around the world. This visa ensures that the brightest minds are contributing to the Emirate's vision for a greener and more sustainable future, particularly those with expertise in clean technologies, renewable energy and environmental sciences.
These experts bring with them the skills, knowledge and innovative thinking necessary to drive forward Abu Dhabi's sustainability goals, making the Golden Visa an integral part of the Emirate’s transformative journey toward a sustainable future.
As ADDED continues its efforts, Abu Dhabi further cements its position as a regional and global leader, demonstrating that economic success and environmental responsibility can go together.
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