The development of the economic
status in Abu Dhabi
In 1971 sheikh Zayed (May his soul
rest in peace) proposed the idea of uniting the six emirates in order to
improve the economic status by joining borders. In 1972 Ras al Khayma joined
the union .Later on, there came the discovery of oil, which was the great jump
ahead for the whole seven emirates economically. The UAE depended on oil as the
number one resource for year’s .With the changes made in those emirates in so
many ways, now they are looking for alternative ways for clean and green ways
of generating power as a resource, "We must not rely on oil alone as the
main source of our national income. We have to diversify the sources of our
revenue and construct economic projects that will ensure a free, stable and
dignified life for the people.” Zayed said (http://www.uaeinteract.com/docs/Sheikh_Zayed_in_quotes/18411.htm)
The economy in Abu Dhabi started
based on oil production, and they started exporting oil
to different parts of the world and they managed to sign major contracts with
leading countries. First it started with ADNOC, which was the leading oil
exporting and extracting company in Abu Dhabi ,”producing
over 2.7 million barrels of oil a day” (http://www.adnoc.ae/)
, which was followed by other companies such as ENOC, ADCO
and other companies. The UAE became the number one destination world wide for businesses
not only because of oil, but due to the perfect economic atmosphere; it became
a tourist attraction as well. Almost all countries worldwide have oil, but in
the Gulf, as everybody knows, it’s easier because the layers in those countries
that contain the oil are much closer to the surface and easier to extract
therefore it costs less and takes less time. The UAE attracted business men and
women by simply preparing a small business world in this young country through
providing no tax, encouraging successful businesses and promoting the emirates
as tourist spots. At that point the economy started growing bigger and bigger,
and that’s when construction companies
started appearing on a very wide
range , and senior architects started moving to the UAE and as proof , we have
the tallest building worldwide (Burj Khalifa ) and as known , Burj Khalifa is
the most complicated structure in the world which has the highest shock
absorbing ability , then came the leaning tower of ADNEC and the Sheikh Zayed Mosque ( may his soul
rest in peace ). These factors attracted tourists, and that brought the idea of
evolving to the next stage, which is renewable energy, like (Zayed Future Energy Prize) the world’s preeminent
prize for demonstrated renewable energy and sustainability solutions(http://eon.businesswire.com/news/eon/20120723005743/en)
, and the project of Masdar City started to manage the number one green city in
the world and home of the brightest green ideas, and it is listed as the most
modern city worldwide. Every year the UAE proposes new ideas to attract
businessmen by giving what is needed to create an atmosphere that is suitable
for their type of business, and a safe business environment for companies to
prosper. The Emirates on the other hand have their special business plans, to
improve the economic state of mind for the youth, by starting the Khalifa
Project Fund (which supports projects that have unique ideas) to make the youth
support this good economy and improve it; also they have a vision for the
future life that the emirates are going to run out of oil; therefore they are
making plans to make the economy more diversified, stronger and stable for the
long term, “Sheikh Mohammed bin Rashid Al Maktoum, presented the National Document
of the UAE in 2021 entitled "We want to be among the best countries in the
world by 2021" for the vision 2021”(http://www.dubaicityguide.com/site/vision2021/).
The outcome that the society
got was massive, such as free schools, government schools in most countries are
less favorable, unlike the UAE, because with great economic status comes a lot
of benefits, also comes good health treatment and many other things, As Sheikh Zayed had told university
students in 1982, "the greatest use that can be made of wealth is to invest
it in creating generations of educated and trained people" (http://www.thenational.ae/news/uae-news/heritage/the-way-forward).
And this is the summary of
41 years of success in the land of limitless opportunities and a wide range of
options and tax free ideas in a simply safe lifestyle, Zayed vision: Transforming desert into green haven (http://gulfnews.com/news/gulf/uae/environment/zayed-vision-transforming-desert-into-green-haven-1.132209)
747 words
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