Page 374 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 12:01 PM UAE's GDP hits AED430 billion in Q1 2024

"Under the guidance of President His Highness Sheikh Mohamed bin Zayed Al

Nahyan, and the directives of His Highness Sheikh Mohammed bin Rashid Al

Maktoum, Vice President, Prime Minister and Ruler of Dubai, the country adopted

an innovative economic model that supports its future vision, along with effective

national economic strategies, enhancing openness to the world, promoting

partnerships, and transitioning towards an economic model based on flexibility and

innovation," Bin Touq added.

He emphasised that the national economy's positive results reinforce achieving the

economic objectives of the "We the UAE 2031" vision, which includes raising the

country's GDP to AED3 trillion by the next decade.

Hanan Ahli, Managing Director of the Federal Competitiveness and Statistics
Centre, said, "The financial and economic data and indicators endorsing the growth

of the UAE's GDP Q1 2024 reflect the resilience of the country's vital economic
sectors. It highlights the effectiveness of the concerted efforts to implement wise

leadership's directives to enhance sustainable economic diversification, reduce
dependence on oil, promote investments, and attract capital and innovative and

emerging projects to the country."

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