Abu Dhabi economy to increase by 4.5%

04/05/2011 - Dubai Investment News Posted by Neil King
Abu Dhabi economy to increase by 4.5%

Investors considering looking for opportunities in the UAE could be among those interested in the latest economic forecast for Abu Dhabi.The emirate's Department of Economic Development has claimed that this year will see the economy in Abu Dhabi increase by 4.5 per cent.Mohammad Omar Abdullah, the department's undersecretary, said that inflation is also forecast at around three per cent for 2011 and 2012.The expert said that the recent unrest seen elsewhere in the Middle East has provided the emirate with a unique political and economic stability."This comes in conjunction with packages of incentive, favourable procedures and sound economic legislation to stimulate the investment environment," he commented."In the forefront comes a new law on foreign investment and another for the protection of competition in addition to amendments to laws on the protection of intellectual property and patents and industrial designs."The comments come after the International Monetary Fund predicted healthy long-term growth for the UAE.