Opening Address: His Excellency Ali Majed Al Mansoori
Chairman, Abu Dhabi Department of Economic Development
2015 World Economic Forum’s Summit on the Global Agenda
Opening Plenary
Date: Monday 26 October

(Your Highnesses), Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, Your Excellencies, Distinguished Guests, Ladies and Gentlemen,

It is an honor to formally welcome you to the eighth World Economic Forum’s Summit on the Global Agenda, hosted in the UAE, and for the third time in the Emirate of Abu Dhabi.
And on a personal note, it is a privilege to be part of the Summit this year.

The Minister has outlined the UAE economic roadmap and ambition, and highlighted some of our country’s current achievements, all of which have contributed to the UAE’s recent top position in various rankings.

In the 2015 Nation Brands Report compiled by Brand Finance in the UK, the UAE ranked 29 out of 100 countries as having the most valuable nation brand.

Also, the UAE ranked very favorably – 4th place – for top nation brand for investment, just behind Singapore, Switzerland and Hong Kong.
Abu Dhabi government has made it clear that horizontal economic diversification is at the heart of its strategic plans.

From a horizontal perspective, and particularly in the 1980s, petrochemicals made up 80% of Abu Dhabi’s economy. That figure has now fallen to 51% after we steadily encouraged innovation, diversification and knowledge-based sectors. The aim is for non-oil sectors to comprise 60% of the Emirate’s GDP by the year 2030.

By lessening the Emirate’s dependence on any single sector of the economy such as commodities and real estate, sustainable growth and low volatility can be attained.

And, by expanding the economy, we also create a range of highly-skilled, private sector employment opportunities for many generations.
These are lessons we have learned from studying the experiences of other steady economies, such as Norway, New Zealand and Singapore. Key learnings from these countries were instrumental in the preparation of our economic blueprint, the Abu Dhabi Economic Vision 2030.

Among the singular attributes of the UAE, is its diverse population. We have more than 200 nationalities who call the UAE home.

Geographically, two thirds of the world's population lives within an eight-hour flight of the United Arab Emirates.

All of this interconnectivity – whether cultural, commercial or geographic – has allowed Abu Dhabi to engage in a raft of initiatives that support the growth of this thriving country, and improve the living standards of our citizens and residents.

And we have many examples.

The Cultural District on Saadiyat Island is rapidly taking shape, with the Louvre, scheduled to open late next year, followed by the Zayed National Museum and the Guggenheim.

In cargo transportation, Khalifa Port is considered among the most effective ports and industrial zones globally. The only semi-automated container terminal in the region, the port is set to expand over four more phases to handle 15 million containers and 35 million tons of cargo by 2030.

Abu Dhabi International Airport has changed beyond recognition since operations began in 1969 with a single terminal. Now the home to Etihad Airways, the UAE’s national airline, Abu Dhabi Airport welcomed 20 million passengers in 2014. That figure is due to rise to 30 million in 2017, when the 700,000 square meter Midfield Terminal Building - one of the most ambitious aviation projects ever undertaken - is operational.

Infrastructure, however, is considered an enabler and a foundation required to produce a skilled, motivated and global society.
World-class education, training and mentorship are top priorities for the Emirate, and we are continually developing this imperative.

Masdar Institute is the world’s first graduate-level university dedicated to environment sustainability.

New York University-Abu Dhabi has already celebrated two graduating classes, and the Paris Sorbonne University Abu Dhabi is developing a generation of multi-lingual scholars; not to mention our home grown universities that are achieving international recognition.

In addition, on-the-job internships, mentoring and training programs are a must.
The ability to grow and adapt to changing circumstances has been central to our national identity. This openness to progress remains at the heart of the Government’s vision for the future of the Emirate today.
It is our genuine wish that we can share our experiences and lessons to help address challenges faced by other nations.

This Summit is the place to collectively share and explore our methodologies and practices to reach broad, sustainable solutions to global challenges and opportunities.

For me, this principle of long-term thinking is a critical element to this week’s discussions.

I am confident that the 2015 Summit on the Global Agenda will allow us to do that.

Thank you.