Students from the Institute of Applied Technology and Abu Dhabi Centre for Technical and Vocational Education and Training. Innovation is one tenet of the Dh50 billion programme. Image Credit: Ahmed Ramzan/Gulf News Archives

Abu Dhabi: His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, on Sunday announced the approval of a three-year Dh50 billion budget for the Abu Dhabi Government Accelerators Programme ‘Ghadan 21’.

“Dh20 billion will be allocated to the 2019 development package,” Shaikh Mohammad said on his twitter account.

‘Ghadan 21’ will focus on four main tenets: business and investment, society, knowledge and innovation and lifestyle.

The first tenet of the programme is to stimulate business and investment and promote economic development in Abu Dhabi.

This will be achieved through fostering an attractive and conducive environment for the growth of enterprises and economic institutions, improving the competitiveness of the work environment, developing the private sector and small and medium enterprises, as well as stimulating programmes for industrial companies, renewable energies and other sectors.

Housing projects

The second tenet of the programme aims to develop the community through the employment of citizens and the launch of housing projects and provision of quality education at reasonable cost and the establishment of the Social Support and other development initiatives, which will ensure decent livelihoods for citizens.

The third tenet focuses on developing the knowledge and innovation system in the emirate by encouraging emerging companies in the field of technology, attracting talent to Abu Dhabi, supporting research and development centers, and training and developing talent and expertise.

The fourth and final theme of the programme is to enhance the quality of life in Abu Dhabi, by enhancing all services that improve the quality of life, through the participation of individuals in recreational, cultural, sporting and active initiatives and activities, as well as improving infrastructure including transportation, mobility, communication and urban development.

Shaikh Mohammad ordered the Executive Committee to launch the first phase of the development accelerators package in the coming days and to fast-track the implementation of community projects and initiatives to improve the business environment.

Shaikh Mohammad initially announced the Dh50 billion economic stimulus for Abu Dhabi in early June and tasked the Abu Dhabi Executive Council to develop an action plan within 90 days to determine the aspects of spending.

‘All-encompassing vision’

Yousuf Ali M.A., chairman of Lulu Group and member of Abu Dhabi Chamber of Commerce and Industry, said in a statement yesterday the new initiative is sure to propel Abu Dhabi into the next stage of growth and development making it one of the most happening economic hubs of not just the GCC region but on a global scale.

“The fact that this initiative has taken into consideration almost all key stakeholders and contributors of UAE’s socioeconomic fabric, right from the business community to the citizens and residents shows the kind of all-encompassing vision of the UAE leadership.”

NMC Health CEO Prasanth Manghat said the “announcement promises to deliver a set of initiatives not only aimed at transforming the ease of doing business but also bringing about lasting economic benefits to Emiratis, residents and investors.”

— With inputs from Wam