Posted by Neil King
Business investments in Abu Dhabi over the next five years will total Dh45 billion, an expert has predicted.
Riad Mattar, an independent economist who has worked with public sector bodies in Abu Dhabi, said that the emirate had not been affected by the global economic downturn as badly as other countries around the world, the Khaleej Times reported.
He told the news provider: "Abu Dhabi has won investor confidence ... due to several policy initiatives launched in recent years."
The Khaleej Times noted that the commercial sector saw the largest number of new firms invest in the region last year at 7,962, while the professional sector welcomed investment from 479 new companies.
In terms of the investment growth rate, the industrial sector topped the rankings with a 112 per cent rise. The number of new investment interest in the sector rose from 89 in 2008 to 188 last year.
It was noted that in the Gulf Cooperation Council, the largest capital investments were made by investors from Saudi Arabia, who invested Dh68 million.
This week, the Abu Dhabi Municipality announced that Abu Dhabi City and its suburbs will be the focus of 26 new construction projects covering infrastructure needs and urban planning.