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DATA FOR A BETTER FUTURE
In recognition of Inventing the Geospatial Data Hub for SDGs
Dubai, UAE- 6th February 2020:
The Federal Competitiveness and Statistics Authority (FCSA) succeeded in putting firm hands on the “Excellence in GIS Implementation (EGI) Award” in the category of GIS Sustainable Development. FCSA received the award during its participation in the “GOVWORX’20” Conference recently organized in Dubai by "GISTEC" Company.
The award is granted to federal and local government authorities to recognize their contributions to implementing geographic information systems (GIS). FCSA received the award in a credit of the efforts exerted to develop the "Geospatial Data Hub for the Sustainable Development Goals”, which is part of the “Geospatial Statistical System” initiative launched to expand the scope of implementing the geographic information, and achieving the optimal use of the geographic planning in statistics, surveying, measuring indicators, and monitoring the UAE progress is the area of sustainable development.
H.E. Mohamed Hasan, Executive Director of the National Statistics and Data Sector at FCSA, availed this opportunity to highlight the FCSA commitment and relentless efforts exerted to the most advanced technologies in the area data sciences to ensure getting accurate information. He pointed out that this achievement is the result of fruitful and active partnerships between FCSA and several federal and local government authorities in the UAE.
“We are proud of this remarkable achievement made by FCSA. It is my pleasure to extend my appreciation to the team who invented, developed, and accomplished the geospatial data project for the sustainable development goals,” he added.
Noteworthy, the “Geospatial Statistical Systems” cover three underpinning pillars. The first pillar deals with the single map, which is the fundamental pillar for survey planning and conducting geographical analyses. In addition to the single map, there is the national map of the seven emirates, designed to present the demographic data, and community facilities in the health and education sectors.
The second pillar addressed the issue of empowering the national geographic statistics, including national administrative statistics data and the national survey data. Such data take advantage of the demographic data sets and community facilities to enrich data and support statistical analysis.
The third pillar covers the Geospatial Data Hub for the Sustainable Development Goals, with sights set to make the FCSA’s statistical indicators public. The hub established by the FCSA has been linked to the UN Stats Open SDG Data Hub, which is designed to monitor and record the countries’ progress in achieving the SDGs through the feature of synchronizing and sharing the data provided by the FCSA’s hub.
Since its birth in 2007, the annual Excellence in GIS Implementation (EGI) Award has become the most prestigious award in MENA and India in the area of GIS. It is given to authorities and organizations which excel in using GIS implementations and earn the highest scores as per the criteria set by the EGI independent jury.
- The event included 20 workshops in English and French discussing the World Bank’s Ease of Doing Business Report.
- Bilateral meetings brought the Federal Competitiveness and Statistics Authority with high-profile visitors to explore partnership opportunities.
- Participating Ministers were gifted copies of ‘My Story’, the book authored by H.H. Sheikh Mohammed bin Rashid Al Maktoum.
Dubai, December 16, 2019
The third Doing Business Technical Deep Dive has concluded its activities in Dubai, hosted over the course of four days by the Federal Competitiveness and Statistics Authority (FCSA) in coordination with the UAE Ministry of Finance.
The event focused on the Ease of Doing Business Report, published by the World Bank Group. It brought together more than 350 economics experts from over 45 countries in the region and the world, covering Sub-Saharan Africa, the Middle East and North Africa (MENA), and Asia.
FCSA Director General and head of the event’s organising committee His Excellency Abdulla Nasser Lootah delivered a closing speech, saying: “We were delighted to host the World Bank team and all participating delegations, ministers, lawmakers, and economists. The event included panel discussions and in-depth debate, where attendees exchanged expertise and best practices in the ease of doing business sector, strengthening efforts to enhance investment and business environments in participating economies.”
Lootah thanked partners from federal and local government entities in the UAE, as well as the private sector, for their contributions and support for the third High-Profile Doing Business Technical Deep Dive, whether by providing resources and talent, or welcoming participating delegations for field visits to showcase the UAE’s pioneering experience in the ease of doing business sector.
Meanwhile, the World Bank team extended its gratitude for the warm welcome participating delegations received, commending Emirati hospitality and the impeccable organisation of the event over its four days. World Bank officials underlined the importance of these meetings in providing a common platform for dialogue among participating countries – all included in the Ease of Doing Business Report – where they can exchange knowledge, best practices, and success stories in the field.
The sessions and workshops on the event’s agenda witnessed significant turnout from participants in the third High-Profile Doing Business Technical Deep Dive, who attended 20 workshops, prepared and delivered – in English and French – by renowned economists and experts tasked with compiling the World Bank’s Ease of Doing Business Report.
H.E. Lootah lauded the great turnout at the event’s activities, saying that it reflects the quality of the knowledge content it provides. “The workshops were referred to as ‘Technical Clinics’, seeing as their main objective was to remedy the challenges and obstacles facing policymakers in their plans to enhance the work environment in their countries,” he said. “The sessions are organised by World Bank experts in government policy, economics, investment, foreign trade, and mass communication.”
The event discussed the opportunities and challenges facing the drafting and improvement of laws, legislation, and procedures surrounding doing business, as well as the basic stages that all economic establishments go through, from launching operations, to securing construction permits, registering property, getting credit, protecting minority investors and legal rights, paying taxes, cross-border trade, enforcing contract, and handling cases of insolvency.
The organising committee sought to ensure international delegations have an authentic Emirati experience, where groups of Emirati children, dressed in traditional clothing, welcomed them with traditional rose water sprinklers to the tone of Emirati folk music during breaks between sessions. Visitors were also treated to traditional local dishes such as Batheeth, Rangeena, and Arabic coffee, served during authentic Yola and Ayala performances. Organisers presented their visitors with souvenirs inspired by the UAE’s heritage such as wicker baskets made especially for the occasion by members of the Productive Families Programme.
Prominent Visitors Applaud ‘Well Organised’ Event
The third High-Profile Doing Business Technical Deep Dive received extensive praise from renowned international visitors for being well organised, as well as for the warm welcome visitors received, which reflected Emirati values of hospitality and the UAE’s professionalism in organising global knowledge events.
The visiting dignitaries, including several ministers, convened in bilateral meetings with the FCSA team on the side lines of the Deep Dive, held in Dubai this week.
H.E. Pholile Shakantu, Minister of Justice -Eswatini, stated that the third High-Profile Doing Business Technical Deep Dive is particularly important for developing and facilitating business, offering a platform for dialogue and the exchange of creative ideas to utilise the Report and its indexes to improve laws and procedures.
Meanwhile, Senator Manqoba Khumalo, Minister of Commerce, Industry & Trade from Eswatini, applauded the event and the advanced level of communication and interaction among participants, saying that Dubai impressed him with its opulence and generosity.
For his part, HE. Oumarou Alma, Minister – Special Adviser to the President of the Niger Republic, said: “As the third High-Profile Doing Business Technical Deep Dive draws to a close, I cannot help but express my sincere gratitude to the United Arab Emirates, and to the World Bank delegation, for the warm reception and impeccable organisation. The event is a must-attend function and an unparalleled occasion for exchanging expertise, opinions, and best practices for the entities tasked with rolling out economic reforms in Africa and the Middle East.”
“I thank the UAE and the World Bank once again,” H.E. Oumarou added, “and a special thank you goes to H.E. Abdulla Lootah, Director General of the Federal Competitiveness and Statistics Authority, and his team for their constant support and their efforts to organise this event, which has made our stay in Dubai – the city of the future – all the more advantageous.”
The organising team presented visiting dignitaries with copies of ‘My Story’, the book authored by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai.
The UAE ranks among the world’s top 20 economies, and came in 16th place on the annual Ease of Doing Business Report, which tracks 190 countries around the world. The Emirates led the entire Arab region on the ranking for the seventh consecutive year. Furthermore, the UAE ranked among the international top 10 on four of the Report’s 10 categories, ranking first in the world in terms of ease of connecting to the electrical grid; third in terms of ease of securing construction permits; ninth in terms of enforcing contracts; and tenth in terms of ease of registering property.
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The emirate is hosting the event for 4 days, under the patronage of H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance.
- The event is organised by the World Bank Group, with the support of the UAE’s Federal Competitiveness and Statistics Authority (FCSA).
- H.E. Hessa Buhumaid, Minister of Community Development: The UAE welcomes the findings of the Doing Business Report with an open mind, implementing them to rank among the top countries in the world on the index.
- H.E. Abdulla Lootah, FCSA Director General: The UAE uses the Report’s findings to launch projects and update legislations and procedures to be in line with reality and pave the way for a better future.
- H.E. Matthew Hawkins, New Zealand’s Ambassador to the UAE: The ease of doing business in the UAE is one of the leading factors that have made it an important business and commercial hub for our country.
Dubai, December 10, 2019
The third high-profile Doing Business Technical Deep Dive kicked off in Dubai today, hosted by the Federal Competitiveness and Statistics Authority (FCSA) in coordination with the Ministry of Finance.
Held under the patronage of His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance, the event addresses the World Bank’s Doing Business Report, bringing together a host of renowned policymakers and experts in economics and business to explore opportunities and exchange expertise.
The meeting is scheduled to take place over the course of four days, under the theme ‘Global Aspiration Towards Business Growth and Economic Prosperity”. It brings together more than 350 experts from 45 countries in Sub-Saharan Africa, the Middle East and North Africa (MENA), and Asia. The agenda includes several panel discussions, workshops, lectures, and field trips to explore best practices in government entities around the UAE that have earned high global rankings on the Doing Business Report.
In her opening speech, Her Excellency Hessa bint Essa Buhumaid, Minister of Community Development, said: “The UAE has established partnerships with the World Bank and the International Finance Corporation that have led to a host of successes and accomplishments across various sectors. Our cooperation to support competitiveness is one of our most successful; the UAE believes in the Doing Business Report, welcomes its findings with an open mind, and implements its recommendations to advance through the ranks and assume the top spots among the countries of the world on the index.”
“Our journey with competitiveness has had its fair share of challenges and successes that have propelled the UAE to the top ranks on numerous international competitiveness indexes,” H.E. added. “What the United Arab Emirates accomplished in the past few decades, and what it still plans to accomplish, will serve as a solid foundation upon which we can build a competitive knowledge economy driven by human skills, and capable of materialising the Fourth Industrial Revolution as on-the-ground projects and initiatives that serve to achieve the UAE Centennial 2071 Plan.”
“We are gathered here today to discuss the Doing Business Report, but there are other reports we need to focus on as well,” H.E. Hessa Buhumaid explained, citing the report titled ‘Women, Business, and the Law’ and the Human Capital Index. “With an abundance of reports available, governments now look to technical committees in the World Bank to listen to opinions and suggestions from relevant entities in their respective countries, and accept their feedback with an open mind.”
For his part, His Excellency Abdulla Nasser Lootah, Director General of the FCSA, said: “We take international reports very seriously here in the UAE; we use them to launch projects and update legislations and procedures to be in line with reality and pave the way for a better future. We all have a common goal: to develop a single, unified approach for analysing and understanding the Doing Business Report and its projections for the upcoming years. We are here to exchange expertise and connect with experts and specialists.”
“I have no doubt that the World Bank team will be taking this opportunity to have a closer look at the countries covered by the report, and exploring ways for countries to work together and make the study more credible and pertinent,” H.E. Lootah concluded.
Meanwhile, H.E. Matthew Hawkins, New Zealand’s Ambassador to the UAE, said: “The ease of doing business in the UAE is one of the leading factors that have made it an important business and commercial hub for our country. The UAE’s success is our success; we are delighted to see the momentous leaps it has taken in the past decades on the Ease of Doing Business Report.”
Participants at the Doing Business Technical Deep Dive will explore the opportunities and challenges facing efforts to draft and improve business legislations and procedures, highlighting the various stages economic establishments go through from beginning their operations, to securing construction permits and electricity services, registering trademarks, applying for credit, protecting minority investors, paying taxes, cross-border trade, enforcing contracts, and conflict resolution.
Dubai, UAE, December 8, 2019
The World Bank Group, with the support of the United Arab Emirates Federal Competitiveness and Statistics Authority (FCSA) will host, from December 10 to December 13, 2019 in Dubai, the third Doing Business Technical Deep Dive, a Masterclass and a knowledge sharing platform on the reforms counted by the World Bank Group’s Doing Business report. The event will welcome participants from over 30 countries in Africa, Asia, Europe, the Middle-East and Oceania.
The Technical Deep Dive gathers reform experts and policy makers to discuss the methodology and indicators of the Doing Business report, share best practice on identifying bottlenecks to private sector development and enacting relevant reforms, participate in targeted capacity building and networking sessions and use those interactions to update their country reform action plans.
His Excellency Abdulla Nasser Lootah, Director General of the Federal Competitiveness and Statistics Authority (FCSA), said: “Holding the third Doing Business Technical Deep Dive here in the UAE is a testament to the country’s success in firmly establishing itself as a destination of choice for business and economic leaders, partners, and organizations. It reflects the great confidence our partners at the World Bank and IFC have come to place in the UAE to host meetings of this high caliber. With prominent delegations of decision-makers and accomplished economics and business experts slated to attend, the much-anticipated event marks yet another milestone on the UAE’s journey to achieve the UAE Vision 2021 and implement the Sustainable Development Goals 2030.”
The 2020 Doing Business report, which was launched on October 24, 2019, shows that reform expertise is growing in the Middle-East and Africa regions. Economies in the Middle East and North Africa implemented a record 57 business-friendly reforms and hosted four of the countries that improved the most world-wide in the ease of doing business – Saudi Arabia, Jordan, Bahrain, and Kuwait. Sub-Saharan African countries implemented a total of 73 reforms, with Nigeria and Togo making the list of the global top reforming countries while Mauritius ranked as 13th easiest place to do business in the world.
The UAE ranks 16th globally and is the highest-ranked economy in the Middle-East and North Africa region. The Technical Deep Dive will offer the opportunity to aspiring reformers from across the globe to learn from the UAE’s best practices and share their efforts aimed at narrowing the gap with top reforming economies in the world.
The Doing Business project provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level. Launched in 2002, it looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle.
The Deputy Secretary-General of the United Nations, Amina Mohammed: The UAE has Demonstrated its Commitment to Adopting Innovation and Technology to Achieve Sustainable Development.
H.E. Abdullah Nasser Lootah: The UN Provides One of the Best Platforms in the World to Share Knowledge, Experiences, and Best Practices on Data and Statistics.
New York, Dubai, 16 March 2019:
As part of the UAE participation in the meetings of the fiftieth session of the International Statistical Committee at United Nations Headquarters in New York, H.E. Abdullah Nasser Lootah, the Director-General of the Federal Authority for Competitiveness and Statistics (FCSA) and the Head of the UAE Delegation held a meeting with HE Amina Mohammed, the Deputy Secretary-General of the United Nations to discuss the UN SDGs and the opportunities for enhancing cooperation efforts to achieve them.
During the meeting, the officials tackled many related topics, while focusing on the latest technology trends, strategic partnerships, the centrality of the role of youth and the importance of supporting the implementation of data-based sustainable development initiatives around the world.
H.E. Lootah showcased the UAE’s experience and experiments in this field and shed a spotlight on the State’s efforts at the local and international levels to achieve the SDGs, including hosting the second session of the United Nations Global Data Forum in October 2018. The international event was considered as an additional opportunity to meet with stakeholders and focus on how to harness the power of data to serve humanity.
On this occasion, HE Amina Mohammed said: “I am delighted to meet again with the UAE delegation and members of the FCSA. The UAE has always been a committed member of supporting global efforts to achieve sustainable development goals, and the presence of a large team of officials at the meeting of the Fiftieth Session of the International Statistical Committee highlights the deep faith of UAE leadership in the vital role that data can do to achieve a prosperous future.”
On his side, Lootah pointed out: “The United Nations World Data Forum has established a strong and long-term relationship between statistics and data workers in the United Arab Emirates and the United Nations, specifically the International Statistical Committee. Communication and active participation among experts, private sector bodies, private sector companies, and social organizations around the world are the only way through which we can share experiences and innovations that support countries in their quest to achieve or exceed the goals of sustainable development.”
He added: “Today, we are here in New York to promote the commitment that everyone in this world, regardless where they live, can live a life free of poverty, hunger, and disease.”
It is worth mentioning that the International Committee of Statistics (ICS) comprises leading statistical experts from UN member states, and it is the highest decision-making body on international statistical activities.
General Secretariat of the National Committee on SDGs Launches First Report on Private Sector Sustainability Initiatives in UAE
Dubai, UAE- 18 August 2019
The Secretariat of the National Committee on Sustainable Development Goals launched the first report on private sector initiatives for sustainability in UAE titled "Achieving Sustainable Development Goals in the UAE: Private Sector Contributions." Global Strategy Consulting firm, Oliver Wyman developed the report in partnership with the Private Sector Advisory Council on SDGs (PSAC) founded by the Federal Competitiveness and Statistics Authority (FCSA).
The report sheds a spotlight on the efforts exerted by the National Committee on SDGs to serve as a platform for coordination and partnerships through PSAC. It also focuses on the role of private companies in achieving SDGs by means of sharing ideas and practices on the key opportunities and challenges that companies face in their efforts to implement the UAE Agenda 2030.
The initiatives cover various sectors, including renewable energy, real estate, retail, aviation and land, and sea transport services. These initiatives have contributed to the UAE’s efforts to promote sustainability within the private sector and make progress towards achieving the 2030 global agenda of sustainability.
H.E. Abdullah Lootah, Director General of FCSA and Vice-Chair of the National Committee on SDGs and Chair of the PSAC on SDGs, stated: "At a time of multiple drastic and relentless economic, social and technological changes experienced by the world, the public and private sectors partnerships and the achievement of sustainable progress and prosperity for the society of UAE become essential. Based on the initiatives and experiences presented by the report, the UAE has turned out to be a global role model in the governance of SDGs and harnessing the innovative partnerships between the public and private sectors to achieve them."
The report also reviews notable initiatives adopted by the National Committee on SDGs in UAE. The committee is the government team in charge of implementing the 17 SDGs in the UAE and was formed in January 2017 and chaired by Her Excellency Reem Bint Ebrahim Al Hashimy, Minister of State for International Cooperation. The committee’s members include 17 federal level government authorities who agreed on a road map for the year 2030. The road map focuses on four key stages, including raising awareness, establishing the foundations, developing policies, reporting the progress achieved, and monitoring the performance.
Greg Rung, Partner at Oliver Wyman, stated: "The ongoing cooperation between the UAE government and the private sector is crucial in boosting the country’s efforts to implement the United Nation’s 17 SDGs successfully."
"Oliver Wyman is proud to collaborate with PSAC for producing this report and partner with the entity to support the UAE government in its commitment to successfully achieving a prosperous and sustainable future for all," added Rung.
Members of PSAC have also drafted a consultative framework used as a formal mechanism to engage the private sector in UAE and move forward in achieving UAE Agenda 2030. Additionally, PSAC developed a strategy to engage the youth, to ensure that development is not only for the youth but also for and through them to further promote and increase their positive contributions as agents of change.
H.E. Abdullah Lootah concluded his statement by stating: "Recognizing that the implementation of SDGs could only get ahead by involving all relevant stakeholders from different government and private sectors, we have pooled resources with the Oliver Wyman team to prepare this important report with sights set to shed light on the efforts of the private sector as a strategic partner of the UAE government. I am proud of the commitment of the members of PSAC and their contributions to supporting the sustainability process in UAE, and the dissemination of such UAE experiences to the global community."
The report showcases the most important sustainability initiatives developed by 12 national and international companies operating in UAE, namely: Dubai Holding Company, Careem, Majid Al Futtaim Group, DP World, EMAAR Group, Al Serkal Group, First Abu Dhabi Bank, Emirates Airline, Multinational Companies Business Group, Dubai Free Zones Council and MASDAR Group.
Dubai, Wellington- 7 August 2019
In the recent official visit to the head office located in New Zealand’s capital Willington, the senior management of the New Zealand’s G2G Know-How Foundation welcomed H.E. Abdullah Nasser Lootah, Director-General of the Federal Competitiveness and Statistics Authority (FCSA).
G2G Know-How is a public foundation that reports to the New Zealand government. It dedicates all its efforts in developing innovative government solutions through exchange of ideas and experiences with the most significant experts from the public and private sectors from around the world.
H.E. Lootah’s visit to New Zealand G2G Know-How came as part of his tour of New Zealand’s government, semi-government and private institutions this week. During the meetings held at its premises, the G2G Know-How teams briefed H.E Lootah on their wide range of activities and successful experiences in areas of developing innovative government projects.
FCSA’s Director-General and New Zealand’s task forces discussed FCSA’s initiatives that are channeled towards developing the UAE’s National Statistical System for improving the Competitiveness Strategy and achieving the Sustainable Development Goals (SDGs).
The G2G Know-How officials introduced the foundation’s methodology in collaboratively developing initiatives of various government entities in New Zealand. Their process includes identifying challenges, defining development goals, drawing up a master plan to develop and implement solutions, identifying partnerships with experienced foreign governments, and examining and analyzing results.
On his visit to the G2G Know-How Foundation, H.E. Lootah stated, “New Zealand is featured by the foremost global competitiveness reports and indicators as one of the most developed countries. It is an exciting opportunity for the UAE to be G2G Know-How Foundation’s first-ever international co-operation experience. Learning from this experience inspires us to further excellent the efficiency and effectiveness of UAE’s National Teams and the innovative services offered to individuals and institutions in our homeland.”
A meeting was held between H.E. Lootah and Mr. Malcolm Miller, Executive Director of the G2G Know-How Foundation and former New Zealand Ambassador to UAE. Mr. Miller availed this opportunity to appreciate the active collaboration between New Zealand and the UAE’s public institutions. He noted the similarity and convergence of government visions on various aspects of government initiatives, including establishing an innovation culture, the role of accurate and up-to-date data in supporting decisions and placing sustainability as part of the government priorities in all areas and sectors.
FCSA’s – Director General’s visit to New Zealand included visiting several semi-government and private institutions specializing in the field of data such as the Data Ventures of the New Zealand Statistics Center and the head office of Creative Company. Data Ventures is a global provider of specialized and innovative services and products of data-driven insight while Creative Company is a private company that aims to build and promote innovation and creativity culture across the government and private institutions through the development of individual and institutional skills of work teams.
H.E. Lootah concluded his statement by saying: “Our visit to the capital of New Zealand was very successful. I am happy with the results of the meetings held with all the institutions. It has been agreed to intensify bilateral efforts by organizing more activities, exchanging experiences and launching projects and initiatives in various specialties and fields of common interest, particularly in fields of developing Statistical Activities, Management of Competitive Strategy and Governance of initiatives dedicated to achieving SDGs.”
H.E. Abdulla bin Touq Al Marri: Under the wise leadership’s vision, the UAE has built an innovative economic model based on global best practices. The continuous growth of the national economy reflects the success of the UAE’s economic diversification policies.
We remain committed to achieving the goals of “We the UAE 2031”, aiming to expand the UAE’s GDP to AED 3 trillion by the next decade and securing the UAE’s position as a global hub for new economy.
Hanan Ahli: The UAE’s robust economic performance is backed by a clear future-oriented vision focused on sustainable economic growth.
Additional Subtitles:
• UAE’s real GDP reaches AED 1.322 trillion
• Non-oil GDP reaches AED 987 billion
• Contribution of non-oil sectors to real GDP is 74.6%
• Top-growing sectors: Transport, construction, finance, government, and hospitality
• Leading contributors to non-oil GDP: Trade, manufacturing, finance, construction, and real estate
• Nominal GDP reaches AED 1.486 trillion (6% growth)
• Nominal non-oil GDP reaches AED 1.136 trillion (6.6% growth)
The UAE has recorded significant growth in its real GDP by 3.8%, reaching AED 1.322 trillion in the first nine months of 2024, compared to the same period in 2023. Meanwhile, non-oil GDP expanded by 4.5% to AED 987 billion, accounting for 74.6% of total real GDP, while oil-related activities accounted for 25.4%.
Commenting on this performance, H.E. Abdulla bin Touq Al Marri, Minister of Economy, emphasized that the UAE’s sustained economic growth is a testament to the success of its policies and strategies aimed at enhancing economic diversification, streamlining business operations, and driving the expansion of new economy sectors as key drivers of sustainable economic and social development. He highlighted that, under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, the UAE has built an agile and globally competitive economic model capable of adapting to global challenges and rapid changes.
“The UAE continues to increase the contribution of non-oil sectors to the national economy by developing flexible economic legislation, enhancing global trade openness, and building strategic partnerships with key international markets. These efforts align with the “We the UAE 2031” vision, which aims to grow the UAE’s GDP to AED 3 trillion within the next decade and secure its position as a global economic hub,” H.E. bin Touq added.
Hanan Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, stated: “The UAE’s GDP growth over the past nine months reflects our strong economic performance and future-driven vision focused on sustainable economic expansion, led by non-oil sectors.”
“Economic diversification remains a key pillar of the UAE national strategy, ensuring long-term growth in the economy and in key economic and development indicators,” she emphasized.
Top-Growing Economic Sectors
During the first nine months of 2024, the UAE’s fastest-growing economic sectors showcased remarkable expansion compared to the same period in 2023. The transport and storage sector experienced a significant growth of 7.9%, largely driven by a surge in passenger traffic at UAE airports, which welcomed over 103 million travelers, marking a 20% increase. Similarly, the construction and building sector expanded by 7.4%, fueled by substantial investments in large-scale urban infrastructure projects. The financial and insurance sector also saw steady growth, rising by 6.8%, while government activities expanded by 5.0%. Additionally, the hospitality and restaurant sector recorded a 4.9% increase, reflecting the continued momentum in the tourism industry.
When examining the key contributors to non-oil GDP, trade emerged as the largest sector, accounting for 16.5% of total non-oil economic output. Following closely behind, manufacturing contributed 15.1%, underscoring the UAE’s industrial strength. The financial and insurance sector played a crucial role, making up 12.1% of non-oil GDP, while construction and building activities contributed 11.7%, and the real estate accounted for 7.6%.
Overall, the UAE’s nominal GDP reached AED 1.486 trillion during the first nine months of 2024, reflecting an impressive 6% year-on-year growth. The nominal non-oil GDP also grew significantly, reaching AED 1.136 trillion, with a 6.6% increase. Notably, non-oil sectors contributed 76.5% to the total GDP, further highlighting the UAE’s progress in economic diversification and sustainable growth.
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