Abu Dhabi - Mubasher: The emirate of Abu Dhabi is looking to invest around AED 50 billion ($13.6 billion) in an effort to promote its economy.
Sheikh Mohamed bin Zayed Al Nahyan, crown prince of Abu Dhabi, has noted that the plan aims at enhancing economic growth of the UAE’s capital and biggest sheikhdom within the coming three years.
The plan includes 10 economic initiatives stretching from infrastructure and legislative projects to small- and medium-sized enterprises (SMEs), industrial and social projects.
“The Executive Committee of the Abu Dhabi Executive Council to draw up a detailed execution plan for the stimulus package within 90 days,” Arabian Business reported.
The plan will create more than 10,000 jobs in both the private and public sectors in the next five years.
“Sheikh Mohamed gave a directive to accelerate the settlement of due payments on contracts for suppliers from the private sector and to review all fines for the healthcare and education sector, as well as municipalities’ affairs,” Arabian Business added.
Moreover, Sheikh Mohamed ordered launching Abu Dhabi Accelerators and Advanced Industries Council in a bid to attract and support value-added investments and technologies.
