"We have a responsibility to drive economic development and diversification and to attract Foreign Direct Investments. We can only do this by developing a private sector that is empowered to contribute significantly to the economy; the government must take its position as a regulator and enable the private sector to proactively contribute to Abu Dhabi's economy. For the sake of our ability to continue to compete regionally and globally, we must have a private sector that is entrepreneurial and vibrant.

We must focus on the core, inter-related factors that create the right environment for the development of a powerful private sector. These include the creation of a welcoming business environment, creating the right infrastructure and driving the type of social development needed to support our economy.

The burden of responsibility on this Council is significant. We need to organize ourselves in a way that delivers real ongoing results."