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Study shows Khalifa's early interest in tapping oil for national development

posted on 01/10/2006: 628 views



A recent study says that President H.H. Sheikh Khalifa bin Zayed Al Nahyan, since the early years of the federation, had shown keen interest and given great attention to drawing long-term strategic plan for the judicious use of the country's oil and gas resources to meet the UAE's national ambition.



The study, which was released by the Information Affairs Bureau of Deputy Prime Minister, Sheikh Sultan bin Zayed Al Nahyan, said the prime principles, upon which the UAE policy was based, include the use of oil and gas revenues to achieve comprehensive development.



In order to achieve this vital, strategic and constructive ambition, Sheikh Khalifa focused on this principle by establishing a broad network of infrastructure designed to form a concrete foundation for national development and progress, it added.



The study, issued in Arabic, English and French, is based on comprehensive assessment and scientific analysis of the reality in dealing with the requirements of self development and the responsibility of contributing to the building of global peace and stability.



It is based mainly on Sheikh Khalifa's statements addresses on various occasions and issues which had great effect in pushing the UAE towards the achievement of the development it is currently witnessing, through the translating of the ideas to reality on the ground. "Our national policy on the oil sector is based on protecting the country's national interest by judiciously tapping these resources," Sheikh Khalifa was quoted to have said on one of those occasions. The study said the first principle the UAE policy on oil was based on the tapping the country's resources for the achievement of comprehensive development. (Emirates News Agency, WAM)

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