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Gulf nation hails China-proposed infrastructure program for contributing to economic diversification

A decade after Chinese President Xi Jinping proposed the Belt and Road Initiative to the world, beneficiaries and partners in the United Arab Emirates are hailing the global infrastructure development program for boosting the Arab nation's economic diversification plans.

Fatima Al Hammadi, chief commercial officer of Economic Cities & Free Zones, AD Ports Group, said the UAE-China cooperation in the BRI can result in increased capacity for manufacturing, trade and connectivity for the UAE, further enhancing its position as a global supply chain hub.

In recent years, the UAE has introduced a raft of initiatives that would strengthen its position as a global partner and its status as an attractive and influential economic hub. Among them is "We the UAE 2031", a national plan that will guide the UAE's development path in the next decade, focusing on social, economic, investment and development aspects.

Some of the key indicators of the vision include doubling the country's GDP to 3 trillion dirhams ($816 billion) from 1.49 trillion dirhams, and generating $217 billion in non-oil exports and raising the value of the UAE's foreign trade to $1.8 trillion.

The plan ties in with the "UAE Centennial 2071" vision launched by the UAE Cabinet in 2017 to advance the country's education, economy, government development, and community cohesion, and "instill an Emirati moral values system in future generations", according to the government.

A key pillar in "We the UAE 2031" is its forward ecosystem that would enhance the government's performance and the UAE's infrastructure and its development, including the development of digital infrastructure.

"The Abu Dhabi Industrial Strategy and Abu Dhabi Economic Vision are the guiding principles for the Kezad Group (part of AD Ports Group), which is always on the lookout for forging important partnerships with global leaders to achieve the objectives set in the ADIS," Al Hammadi told China Daily.

She said the collaboration between the two nations "has encompassed various major partnerships between companies from both sides". One such major partnership is for developing the China-UAE Industrial Capacity Cooperation Demonstration Zone, or ICCDZ, which is aimed at developing the base of Chinese industries in the UAE.

Because of such cooperation initiatives, the UAE "has gained access to cutting-edge technologies, expertise and investments that have propelled its industrial growth", she said.

"The robust trade relationship between the two countries, along with the transfer of knowledge and technology, has enhanced the UAE's manufacturing sector, diversified its economy, and aligned it with global trends in innovation and sustainability," Al Hammadi said.