ABU DHABI’S INITIATIVES TO FAST-TRACK NON-OIL GROWTH
With the launch of a series of initiatives to support growth in the non-oil sector, Abu Dhabi is reinforcing its efforts to diversify the economy away from hydrocarbons. In late June the Abu Dhabi government announced it had created a Dh4bn ($1.1bn) fund to boost research and development (R&D) in the emirate. The fund will provide rebates to companies that invest in R&D and launch new business ventures, with the aim of incentivising greater levels of innovation. This will be accompanied by measures designed to support business growth, such as the implementation of energy discounts for industrial …
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