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Article: Abu Dhabi - The Economic Base.
- Article from:
- APS Review Downstream Trends
- Article date:
- January 4, 1999
CopyrightCOPYRIGHT 1999 Input Solutions. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By far the wealthiest of the seven emirates, Abu Dhabi gets more than 80% of its revenues from the petroleum sector. Excluding the expatriates, Abu Dhabi's GDP per capita is the highest in the world.
The local government is focusing on development of the non-oil sector and expanding infrastructure. Privatisation has been proposed to help enrich the Abu Dhabians further. This is to be done by giving the nationals shares in state companies. The General Industry Corporation (GIC), which currently operates the UAE government's non-oil industries, was in 1995 asked to sell off 80% in five key factories in Abu Dhabi with a combined capital of around Dh722m ($196.7m). ...