AED50bn stimulus fund to fuel Abu Dhabi’s growth

ABU DHABI / WAM

Officials from the Department of Culture and Tourism — Abu Dhabi said the AED50 billion stimulus package, announced by HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supr-eme Commander of the UAE Armed Forces, will sharpen the emirate’s competitive edge.
Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism – Abu Dhabi, said, “Echoing the leadership’s foresight and vision, the AED50 billion stimulus announcement by His Highness Sheikh Mohamed bin Zayed is highly significant given its direct impact on the government’s strategy to diversify the economy and further grow the non-oil sectors. This directive reiterates pivotal role that the tourism sector continues to play, especially in introducing Abu Dhabi to the world as a global destination for not only short-term visits but also for investment and long-term stays.
“Given its mandate to establish Abu Dhabi’s position as a destination of distinction, the Department of Culture and Tourism – Abu Dhabi acknowledges the responsibility bestowed upon it to fulfil this directive and work towards bolstering the emirate’s cultural and eco-tourism offerings. Along with our partners, we have devised effective initiatives and programmes to build an industry that can provide the impetus for economic growth and social development. As we move forward, we will continue our efforts to attract an increasing number of tourists to the emirate for extended periods of time.”
Saif Saeed Ghobash, Under-Secretary of the Department of Culture and Tourism — Abu Dhabi, said, “We are confident that these recently announced stimulus measures will create a much more competitive environment in Abu Dhabi. This will effectively encourage private sector stakeholders and investors to seek out opportunities in booming sectors such as tourism. The sector presents promising diversification opportunities, as the need for culturally
enriching, authentic and unique experiences continue to grow
exponentially across the globe.

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