Friday, March 1, 2013

Diversify to spur growth


Abu Dhabi’s economic diversification drive will offer further business opportunities, according a top banker.

The emirate is working to expand its non-oil economy to 60 per cent in 2030 from 40 per cent at present, which will offer substantial opportunities to investors, said Michael Tomalin, the group chief executive officer of the National Bank of Abu Dhabi, or NBAD.

He was speaking while outlining the economic strengths and prospects of the UAE for investors at the 2013 Global Financial Markets Forum, or GFMF, which concluded here on Thursday.

The two-day 2013 GFMF attracted 1,300 delegates. It also tackled an analysis of the UAE and global economy. Tomalin said Abu Dhabi Vision 2030 would develop Abu Dhabi to a global financial hub.

“Abu Dhabi is an enormous opportunity for all,” he said. “Abu Dhabi is a city that is open to investors, open to you.”

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