Abu Dhabi
Abu Dhabi’s Department of Economic Development on Tuesday launched an investment office that will focus on attracting investments to help in the diversification of the economy, a top official said.
Called the Abu Dhabi Investment Office, it will act as a one stop centre for investors to invest in various sectors of the economy.
“It will act as an FDI promotion office, deal structuring and in solving challenges facing investors in Abu Dhabi,” said Khalifa Bin Salem Al Mansouri, the Undersecretary of the Department on the sidelines of the launch.
Abu Dhabi has attracted around Dh95 billion as of end 2016, he said adding that 2017 figures are not yet ready.
Abu Dhabi is investing billions of dirhams in building infrastructure, creating free zones and developing tourism and leisure sectors as it tries to boost growth and diversify the economy.
The Department of Economic Development expects Abu Dhabi to achieve a 3 per cent average growth from 2018 to 2021 with 4.2 per cent growth in the non-oil sector and 2 per cent for the oil sector.
