Etihad Rail to boost UAE’s economic growth, research shows
- Date: 18-Mar-2023
- Source: Khaleej Times
- Sector:Financial Services
- Country:UAE
Etihad Rail to boost UAE’s economic growth, research shows
Freight transport will help industrial sector's rise in the country, notes Emirates NBD Research
Etihad Rail now links all seven emirates since its completion was announced on March 2. - KT file
Published: Sat 18 Mar 2023, 5:56 PM
The UAE economy is set to get a major boost as Etihad Rail comes onstream, a new report has said.
The rail network will boost the country’s freight transport sector, supporting ongoing growth in one of the key components of the local economy, according to Emirates NBD Research.
Trade and freight transport services have been historically important in the development of the UAE, and Dubai in particular, with the city having long been a key entrepot for regional trade flows. “This has been bolstered over recent decades with a series of major infrastructure projects that have further cemented this role and made Dubai a key global logistics centre,” Daniel Richards, Mena Economist at Emirates NBD Research, wrote in a report.
The improved freight transport mix provided by the railway will support the UAE’s ambitious industrial development plans over the coming decades, including Operation 300 billion, which aims to raise the industrial sector’s contribution to the economy from Dh133 billion to Dh300 billion by 2031. Phase one of