The UAE’s non-oil economy continues to show strong momentum, according to the latest report by OPEC.
Part of the report, which also detailed oil demand and oil product stocks, highlighted that the UAE is making significant strides in economic diversification, with initiatives like the UAE’s industrial strategy ‘Operation 300bn’ helping to boost manufacturing, widen export markets, and attract FDI.
Authorities in Abu Dhabi and Dubai are also rolling out supportive policies to accelerate growth in key sectors such as digital technology, fintech, the creative industries, education, scientific innovation, and clean energy.
OPEC noted that strong performance in tourism, finance, and construction is contributing to sustained economic expansion.
Gulf Economist Staff Writer