The Abu Dhabi Government is turning to the private sector for the next phase of its multi-year, 50 billion dirham ($13.6 billion) economic stimulus plan known as Ghadan 21.
The stimulus package is aimed at future-proofing and diversifying the Arab world's second-largest economy, with demand for its lucrative hydrocarbon exports likely to peak in the next two decades and rising external risks challenging its growth outlook.
Abu Dhabi, the capital of the United Arab Emirates, said it will seek to procure approximately 10 billion dirhams worth of infrastructure projects across a range of sectors under its public-private partnership model. "We believe as a government, and as the leadership in Abu Dhabi, that the private sector is an important partner in this," Al Shorafa added, saying the projects will cast a wide net, focusing on the social, municipal and transportation sectors.
It comes after the International Monetary Fund warned last year that achieving sustainable, private-sector-led growth will require Abu Dhabi to capitalize on new growth drivers that are decoupled from oil prices.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
If Vodafone Idea disconnects, India picks up the billIndia faces a multi-billion-dollar hit to its economy and a tarnished reputation...
Les mer »
Mike Bloomberg bets on zigging while other presidential candidates are zaggingA late entrant into the Democratic presidential race, the former New York City mayor is making a billion-dollar bet that the old rules no longer apply.
Les mer »
If You Care About Your Federal Student Loans, Take the Census'College students have so much at stake when it comes to the census because it directly impacts their future housing, communities, voting districts, and so much more.'
Les mer »
Raymond James hires Rothschild dealmaker to lead FIG in EuropeBreaking news, analysis and commentary on investment banking, fund management, hedge funds, pensions, private equity, fintech, financial regulation and trading.
Les mer »
Wall Street is betting AMC is in a downward spiral. Here's the inside story of how the world's biggest movie-theater chain is battling for a comeback.Theater chain AMC's stock has dropped, and private-equity firm Silver Lake has a $600 million investment. Here's CEO Adam Aron's turnaround plan.
Les mer »