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City
Profile
Abu
Dhabi's vast oil industry and foreign assets
contribute to its overall financial strength
making it the dominant member of the UAE.
It
is widely expected that Sheikh Khalifa,
the present ruler of Abu Dhabi, will continue
the broad liberal economic policies pursued
during the long Sheikh Zayed era.
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|
Country
Rankings
for United Arab
Emirates
|
|
| Ease
of Doing Business World Bank '05 |
69
of 155
|
Med*
|
Corruption
Perception
Transparency International '05 |
30
of 159
|
High
|
Growth
Competitiveness
World Economic Forum '05 |
18
of 117
|
High
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| National
Literacy |
78%
|
Med
|
GDP
Growth
(2004 est.) |
5.7%
|
Med
|
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Abu
Dhabi has historically been the slowest to pursue
economic diversification, and the most resistant
to opening its economy up to foreign investment.
But Sheikha Lubna al-Qassimi, the economy and
planning minister, is expected to now promote
a progressive economic agenda, including new regulations
allowing foreigners to own a majority share in
locally incorporated firms. Recent reports suggest
this to be the case. Abu Dhabi believes its competitive
advantage lies in heavier industry and manufacturing,
thanks partly to the availability of cheap energy
and labor.
Earlier
this year Abu Dhabi was host to IDEX 2005 - an
international defense exhibition. The exhibition
brought together representatives from the government
and private sectors from more than 900 companies
and 50 countries. The latest equipment and technologies
in the field of defense were showcased there.
The next installment of IDEX is planned for 2007.
The
National Bank of Abu Dhabi recently won the Middle
East e-Banking Country Award and Outstanding use
of IT in Financial Services Award by Datamatix
and ITP, respectively as recognition of the Bank's
use of the internet in providing outstanding service
to its customers. These awards follow The National
Bank of Abu Dhabi's recognition as the Best Bank
in the UAE, by both Bankers and Euromoney, earlier
this year.
The
University of Abu Dhabi (ADU) has recently recruited
50 new highly qualified faculty members for the
2005-06 academic year. The new professors and
administrators included individuals with backgrounds
in Computer Science and Information Technology,
Marketing, Education, and English among other
subjects. This is part of the University's plans
to improve its staff and the quality of education
offered to its students.
Source:
Population:
2004 or latest: http://www.citypopulation.de;
GDP Data: 2004 CIA Fact Book estimate; Literacy:
UN estimate
*
Country Ranking Codes: A relative color coding
of where the country falls compared to the 20
other Muslim countries represented in this list.
Hgh/Green=Top 3rd; Med/Yellow=Mid 3rd; Low/Orange=Bottom
rd
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