Latest news with #JasimAlZaabi
Al Etihad
06-05-2025
- Business
- Al Etihad
Abu Dhabi's economic delegation to Japan explores new avenues to strengthen partnerships
6 May 2025 17:06 ABU DHABI (WAM)As part of Abu Dhabi's ongoing efforts to enhance ties with leading global economies, the Abu Dhabi Department of Economic Development's (ADDED) economic delegation to Japan is exploring new avenues to enhance cooperation in various industries and high-growth delegation is organised in partnership with the UAE Embassy in Tokyo, reflecting a unified national effort to deepen economic and investment ties between the two high-level delegation comprises senior officials and executives from both the government and private sectors, including the Department of Culture and Tourism – Abu Dhabi, Abu Dhabi Securities Exchange (ADX), ADGM, Abu Dhabi Investment Office (ADIO), Abu Dhabi Customs, Khalifa Fund for Enterprise Development, Abu Dhabi Chamber of Commerce and Industry (ADCCI), ADNOC, KEZAD, Hub71, Abu Dhabi Airports, and major companies from different Jasim Al Zaabi, Chairman of ADDED, said, "Abu Dhabi's soaring 'Falcon Economy' is solidifying the emirate's status as a rising economic powerhouse and a premier destination for global talent, high-value investments, and world-class enterprises. As part of initiatives to future-proof the economy, we are strengthening partnerships with leading economies and top trading partners around the globe, as well as investing in advanced industries, R&D, and entrepreneurship."Al Zaabi added, "Japan has been a key partner of Abu Dhabi and the UAE for more than six decades, as evidenced by the steady growth of bilateral trade and mutual investments. Our trade with Japan grew at a compound annual growth rate (CAGR) of 11.9 percent in the last five years. Over the same period, the UAE's non-oil exports to Japan increased at a CAGR of 8.8 percent, and imports rose at a CAGR of 12.2 percent.""Additionally, our investments in Japan have more than doubled over the past five years, and our country attracted over 80% of Japanese investments in the Middle East. This visit is a testament to our commitment to take this partnership to new heights, with plans to deepen cooperation in clean energy, hydrogen, AI, life sciences, and next-generation technologies to shape a sustainable future," he trade and mutual investments are poised to further increase with the signing of the UAE-Japan Comprehensive Economic Partnership Agreement (CEPA), expected to be finalised later this year. The agreement is set to unlock opportunities in various sectors, fostering the exchange of expertise and technology and opening new markets for both Japanese and UAE delegation will visit and participate in key events in Japan, including Expo 2025 Osaka and SusHi Tech – Tokyo, and the 11th Abu Dhabi Japan Economic Council (ADJEC) meeting. The delegation will also organise the Abu Dhabi Investment Forum (ADIF) and Abu Dhabi-Tokyo Business Forum, which aim to enhance cooperation and attract talent, business, and investment to Abu Ahmed Al Faheem, Ambassador of the UAE to Japan, said, "This visit reflects the deep-rooted and forward-looking partnership between Abu Dhabi and Japan. Japan's expertise in digital transformation, technology, sustainable mobility, and industrial automation complements Abu Dhabi's strategic sectors and our shared vision for a knowledge-based, net-zero future.""We are on the cusp of a new era of bilateral cooperation, enabled by frameworks such as the forthcoming Comprehensive Economic Partnership Agreement (CEPA), which will unlock greater market access and enhance investment flows between the two countries. The UAE Embassy in Tokyo is proud to support this delegation, and we look forward to deepening our engagement with Japanese partners to drive long-term sustainable growth," Al Faheem its establishment in 2011, ADJEC, co-chaired by ADDED and the Japan Cooperation Centre for the Middle East (JCCME), has been driving bilateral cooperation across various industries. JCCME member companies operating in Abu Dhabi have a total capital value of Dh106 billion, and are active in a range of sectors, including oil and gas, contracting, retail, consulting, education, and heavy machinery its success in London, Beijing and Shanghai, the Abu Dhabi Investment Forum (ADIF) will make its Japan debut in Tokyo on May 9, 2025. Organised by the Abu Dhabi Investment Office (ADIO) and ADGM, ADIF provides a platform for top CEOs, business leaders, and investors to explore strategic partnerships and investment opportunities with one of MENA's fastest-growing event will include keynote speeches, panel discussions, and high-level engagements with Japanese government officials and corporate leaders, with a focus on Abu Dhabi's economic clusters, including the Smart and Autonomous Vehicles Industries (SAVI) cluster, AgriFood Growth and Water Abundance (AGWA) cluster, and recently launched Health, Endurance, Longevity, and Medicine (HELM) cluster. The Abu Dhabi Chamber of Commerce and Industry ADCCI, in cooperation with ADGM and ADIO, will organise the Abu Dhabi-Japan Business Connect forum on May 8, 2025. This unique forum is a high-level gathering of business leaders and officials, designed to bring together representatives from both Abu Dhabi and Tokyo, to enhance international partnerships and explore global investment opportunities. The high-profile forum aims to strengthen economic relations and international partnerships between Abu Dhabi and Japan.
Al Etihad
28-03-2025
- Business
- Al Etihad
Statistics Centre – Abu Dhabi reports 3.8% growth in emirate's GDP in 2024
28 Mar 2025 10:16 ABU DHABI (ALETIHAD)The Statistics Centre - Abu Dhabi (SCAD) has released preliminary statistical estimates for Abu Dhabi's Gross Domestic Product (GDP) for 2024, showing significant annual economic growth driven by the thriving non-oil sector. The 2024 GDP data highlights Abu Dhabi's sustained economic momentum, with total GDP and non-oil GDP reaching record values for the third consecutive emirate's real GDP expanded by 3.8 per cent in 2024 compared to 2023, reaching an all-time high value of Dh 1.2 trillion, driven by the non-oil economy which recorded a strong growth rate of 6.2 per cent, marking its highest-ever annual contribution of 54.7 per cent to total GDP. This underscores Abu Dhabi's continued success in implementing economic diversification strategies, reducing reliance on oil revenues, and fostering a sustainable, long-term non-oil sector remained the primary driver of economic momentum, with total non-oil GDP added value reaching Dh 644.3 billion, setting a record for the third consecutive year. Key sectors including manufacturing, construction, finance and insurance, information and communication, wholesale and retail trade, education, and health, achieved their highest-ever values, reflecting the emirate's commitment to industrial development, infrastructure investment, and human capital Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said: 'The consistent, remarkable performance of the Falcon Economy in the past years is a testament to Abu Dhabi's forward-thinking economic strategies, progressive policies, and proactive responses to an evolving global landscape. With a record-breaking Dh 1.2 trillion GDP and a 6.2 per cent growth of non-oil sectors- accounting for 54.7 per cent of total GDP in 2024, this steady growth further enhances Abu Dhabi's status as a rising economic powerhouse and a premier destination for global talent, high-value investments, and world-class enterprises'.'Guided by our visionary leadership, we are future proofing Abu Dhabi's economy through pioneering initiatives that drive industrial transformation, stimulate sustainable growth, and reshape tomorrow's economy. The Economic Diversification 2.0 strategies are accelerating the transition towards a smart, diversified, and sustainable economy. We remain committed to unlocking new opportunities, empowering human capital, and forging strategic partnerships that will shape the economy of the future.'Abdulla Gharib Alqemzi, Director General of the Statistics Centre - Abu Dhabi, said: 'The annual GDP statistical estimates confirm Abu Dhabi's steady progress in economic transformation, with non-oil activities reaching a record 54.7 per cent contribution to GDP. This milestone reflects the emirate's commitment to fostering an investment-friendly environment, empowering entrepreneurs, and enhancing business opportunities across various high-growth sectors.''The strong performance of Abu Dhabi's economy in 2024 underscores the success of economic policies that facilitate business expansion and global trade which resulted in around 300 per cent increase in the foreign investments in Abu Dhabi over a decade.'The manufacturing sector remained one of the largest non-oil contributor to GDP, maintaining a stable 9.5 per cent share, with its added value reaching Dh111.6 billion—the highest on record. This sector achieved an annual growth rate of 2.7 per cent in 2024 compared to 2023, reflecting the success of the Abu Dhabi Industrial Strategy's (ADIS) programmes in driving industrial growth to strengthen the Emirate's position as the region's most competitive industrial construction sector followed closely, contributing 9.1 per cent to total GDP, with an impressive growth rate of 11.3 per cent and a record high of Dh107.4 financial and insurance sector also experienced significant expansion, growing 10.7 per cent year-on-year to reach Dh77.8 billion, contributing 6.6 per cent to the total GDP in 2024, further cementing Abu Dhabi's position as a leading financial information and communication sector grew by 6.6 per cent year-on-year, achieving a record value of Dh 32.2 billion and contributing 2.2 per cent to Abu Dhabi's total GDP in wholesale and retail trade sector also saw its highest-ever value at Dh62.7 billion, contributing 5.3 per cent to the emirate's GDP, reinforcing its vital role with a growth rate of 2.2 per cent in transportation and storage sector achieved the highest growth rate among all industries in 2024 at 16.9 per cent, driven by infrastructure investments, logistics advancements, and increased trade activity. The sector's contribution to Abu Dhabi's economy stands at 2.4 per cent with a total value of Dh27.8 real estate sector grew by 4.2 per cent in 2024, reflecting steady demand and investment in property development. Its contribution to the total GDP reached 3.5 per cent in 2024 with a total value exceeding Dh41.7 service sectors also experienced notable expansion, with education and health reaching their highest-ever values at Dh20.4 billion and Dh17 billion, respectively, through growth rates of 2.5 per cent and 4.1 per cent in 2024, underlining Abu Dhabi's commitment to human capital development and social wellbeing. In the fourth quarter of 2024, Abu Dhabi's GDP grew by 4.4 per cent, while non-oil GDP expanded by 6.6 per cent, maintaining its record-high contribution of 54.7 per cent to total GDP.
