Abu Dhabi has announced ambitious targets to raise the value of non-oil exports seven-fold by 2030, in an effort to shield its economy from volatility in oil prices.
The capital wants to expand foreign direct investment to 23 per cent of its GDP by 2030, from 14 per cent now, to support the development of its export market, said Mohammed Omar Abdullah, the Undersecretary of the Department of Economic Development in Abu Dhabi.
The emirate is looking to nearly triple its GDP by 2030 to US$416 billion (Dh1.52 trillion), from about $142bn last year.
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