H.E. Falah Mohammed Al Ahbabi
Chairman of the Higher Corporation for Specialised Economic Zones
In a relatively short time, Abu Dhabi has succeeded in becoming a modern, robust and diverse economy thanks to the vision and guidance of our wise leadership, led by His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. Today the Emirate is making steady steps towards achieving its Economic Vision 2030 to be a diversified, globally integrated, sustainable, knowledge-based economy.
Abu Dhabi’s economy is growing, with GDP reaching AED780bn during 2015, up 6.3% from AED733.8bn dirhams in 2014, highlighting the Emirate’s continued progress towards achieving its 2030 GDP goal of AED1.5trillion with the non-oil sectors contributing 64% of the total figure.
The Government of Abu Dhabi believes that the industrial sector has a key role to play in achieving balanced economic development and increasing the contribution of the non-oil sector on the economy. The Government has worked hard to establish significant industrial infrastructure and provide incentives to encourage industrial investment in the Emirate. These efforts have paid off and the industrial and manufacturing sector now represents the second largest contributor to GDP in the Emirate.
Launched in 2004 by the Abu Dhabi Government, ZonesCorp is the largest developer and operator of purpose-built industrial zones in the UAE and is playing a leading role in developing the industrial sector in the UAE and has invested more than US$1bn in infrastructure. ZonesCorp also provides a range of industrial land in a variety of sizes designed to accommodate a broad range of activities and enjoys strategic locations close to highways airports, railways and sea ports.
The Industrial Zones cover an area of over 48 million square meters and currently houses over 650 industrial facilities. Since its inception ZonesCorp has attracted US$8bn worth of investment from local and international companies into its economic zones thanks to its world-class infrastructure and transport links and business friendly, tax free environment.
One of ZonesCorp’s key priorities is ensure better living conditions for all workers in the industrial sector in the Emirate. The Corporation has invested US$3bn to develop 28 residential cities for workers, which house over 450,000 people and are constructed to the highest global standards and provide a full range of services and infrastructure.
ZonesCorp has a number of ambitious projects in the pipeline that support the Abu Dhabi Vision 2030. Among these is a project to increase the capacity of residential cities to more than 500,000 people over the next few years and the "Rahayel City" Project which aims to create a world class, integrated ‘Auto Hub’ covering 12.3km. The aim is for Rahayel City to become the destination for automotive manufacturers, distributors and dealers in Abu Dhabi, providing a diverse and attractive range of auto-related investment opportunities.