Enormous oil revenues and a far-sighted government have powered Abu Dhabi’s economy for 40 years. But as the UAE heads into its fifth decade, it is time for private enterprise to lead the way.
Forty years ago the newly founded United Arab Emirates hit the ground running. With coffers full of oil cash and very little in the way of infrastructure, the nation’s capital Abu Dhabi, was in a hurry to catch up with the Western world.
Over the last four decades hundreds of billions of dollars have been spent developing roads, ports, IT systems, modern utilities, higher education facilities and sophisticated banking and legal systems.
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