UAE to achieve 64 per cent of its GDP through non-oil sectors

ABU DHABI, Nov 28 (APP): The United Arab Emirates is aiming to achieve 64 per cent of its Gross Domestic Product (GDP) by supporting non-oil sectors of its economy by 2030 as it cannot depend on the single source of oil in an ever changing world, said Under Secretary of the UAE Department of Economic Development Mohammed Omar Abdullah here on Wednesday. Briefing journalists from various countries, who had been invited to attend 41th national day celebrations, he said although oil was the major component of the country’s GDP, the government had worked out a five-year plan to encourage non-oil sectors like petrochemicals, up-stream and down- stream manufacturers, civil aviation, transportation, communication sectors, medical services, small and medium enterprises to realize this target.

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Posted by Kashif Mirza on Nov 29 2012. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.