30 November, 2023, Abu Dhabi - UAE: The Abu Dhabi Chamber of Commerce and Industry concluded its successful participation in the Abu Dhabi Finance Week – ADFW 2023 as supporting partner. Held under the patronage of His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, the event is organized by the Abu Dhabi Global Market (ADGM) in cooperation with the Abu Dhabi Department of Economic Development under the theme Investing in the Transition Era. 

ADFW 2023 saw the participation of an elite group of financial and business leaders, policy-makers, investors, and bankers from more than 100 countries from around the world.

 

During the event, Abu Dhabi Chamber signed two memorandums of understanding (MoU) and a cooperation agreement with local and international bodies. Signing The MoU’s and cooperation agreement comes to support the national efforts aimed at enhancing environmental sustainability and comprehensive economic development, contributing to the development of the investment ecosystem in Abu Dhabi; in addition to setting cooperation and partnership frameworks to advance the growth and prosperity of the private sector.

The Abu Dhabi Chamber signed a cooperation agreement with ADGM Academy, in the presence of His Excellency Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority and Chairman of Abu Dhabi Global Market Academy, the educational arm of ADGM; His Excellency Ahmed Khalifa Al Qubaisi, Chief Executive Officer of Abu Dhabi Chamber; and Mansoor Jaafar, CEO of ADGM Academy and Research Centre. The MoU aims to enhance cooperation within the national development programs, organizing intellectual leadership events, and supporting the business ecosystem for SMEs, as well as cooperating in launching new programs and courses related to specific skills to enhance lifelong learning, and others specialized for family businesses.

 

Moreover, His Excellency Ahmed Khalifa Al Qubaisi, and Abdelhadi Mohamed, Managing Director of MBME Group, a leading group in the field of technology and digital transformation in the UAE, signed a cooperation agreement aiming to increase joint work to enhance the adoption of sustainability standards in the private sector in Abu Dhabi by providing “EcoMatcher” technology to track the process of supplying and planting Mangrove trees. 

The Abu Dhabi Chamber also signed an MoU with the Bank of China – Abu Dhabi, represented by His Excellency Ahmed Khalifa Al Qubaisi, and Jie Chen, General Manager at the Bank of China. The MoU aims to enhance areas of cooperation between the two sides to support investors and innovators in the business sector, and exchange relevant experiences and information related to investments, as well as developing the international relations network between the two parties through a diverse package of financial services.

On the other hand, the Chamber concluded its active participation in the International Family Office (IFO) Congress, organized by the Emirates Family Office Association (EFOA) in partnership with the Abu Dhabi Chamber, as part of the Abu Dhabi Financial Week activities, to highlight the prominent role of family offices in the industrial and financial sectors.

 

His Excellency Abdulla Mohamed Al Mazrui, Chairman of the Abu Dhabi Chamber, said in his opening speech: “Abu Dhabi Finance Week granted us the opportunity to highlight Abu Dhabi Chamber’s efforts in developing the business ecosystem in Abu Dhabi, in line with the vision of our wise leadership; ensuring that we’re keeping pace with the objectives of the Falcon Economy and the rapidly transforming economic landscape in the Emirate, ensuring the achievement of sustainable development goals by enhancing investment opportunities and economic diversification, and stimulating technological progress in the business sector.”

His Excellency Al Mazrui stressed that Abu Dhabi has a strategic location and is home to some of the largest capitals in the world, as it provides an exceptional environment for financial institutions and family offices in which they can flourish harmoniously, and sets regulatory frameworks to enhance the confidence of families seeking to preserve their financial legacy.

 

His Excellency Masood Rahma Al Masaood , Treasurer of the Board of Directors of the Abu Dhabi Chamber, participated in the event as part of a session titled Abu Dhabi: A Haven for Family Businesses, during which he said: “The Emirate of Abu Dhabi is considered a leading global financial center that attracts international business and investments, especially for family offices and companies. The strategic location of the UAE and its thriving financial ecosystem also provide family offices with access to a wide range of investment opportunities, including the most popular asset classes, including private equity and real estate.”

'Family businesses constitute an essential element in the business community in the UAE, as they represent about 90% of private companies in the country, contributing more than 30% to Abu Dhabi’s economy. The UAE is committed to supporting family businesses through several initiatives to enhance their contribution to the country’s GDP and helping it become more innovative. The Abu Dhabi Chamber is keen to empower it through a set of programs and studies that enhance its growth in an ideal environment for doing business in the Emirate,” His Excellency continued.

 

For his part, His Excellency Ahmed Khalifa Al Qubaisi, said: “Abu Dhabi Finance Week represents an ideal platform for direct communication with an elite group of financial, business, and investment leaders and decision-makers from around the world. The event was also a great platform for the Chamber to highlight the exceptional capabilities that the Emirate enjoys as a leading economic and financial power and a preferred destination for doing business.”

“As part of our participation in this prestigious event, the Abu Dhabi Chamber has succeeded in concluding a number of strategic partnerships with local and international organizations to support the business ecosystem in the Emirate of Abu Dhabi. We did this by encouraging the adoption of sustainability standards and contributing to the development and expansion of knowledge-based economy, in addition to enhancing the presence and proliferation of national and local companies in regional and international markets, in line with the Chamber’s strategy to establish a competitive and advanced system that supports building a sustainable and prosperous future.” His Excellency added.