The United Arab Emirates capital Abu Dhabi is working towards its second five year plan; taking the emirate closer to its long term goal, according to the National Security Advisor and Vice Chairman of the Abu Dhabi executive council.
The country’s news agency WAM said the capital is planning for a more sustainable and diversified economy.
Sheikh Hazza bin Zayed Al Nahyan said that over time a free market economy would be established and would set the way for public and private sectors to compete on an equal footing.
The revamp and overhaul of the emirates resources, according to Nahyan, is to make sure that amidst the challenging global climate Abu Dhabi would be making sure its assets were at optimum level.
Nahyan pointed out the Abu Dhabi Louvre and the Abu Dhabi Guggenheim museum projects on Saadiyat Island will be the cornerstone of the emirate’s strategy of diversifying cultural tourism.
This view, of course, is also shared by HH Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, and the follow-up of HH General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
This reflects their overall aim of focusing on economic diversification and non-oil dependent economic growth.