Officials at Abu Dhabi Business Week 2024 highlighted the emirate’s prominent role in attracting investors worldwide and enhancing their presence across various sectors through comprehensive services and programs that solidify Abu Dhabi’s economic appeal.
Officials described Abu Dhabi Business Week 2024 as a strategic platform uniting local and international investors to explore investment opportunities that align with global economic trends.
They stressed the importance of partnerships between government and private entities in achieving sustainable growth and advancing economic development across sectors, including advanced industries and resource utilization. Notably, the event showcases the investor journey in Abu Dhabi and the emirate’s services for both local and international investors.
Industry, property markets attract key investors
In his remarks to WAM on the last day of Abu Dhabi Business Week, Hareb Mubarak Almheiri, executive director at the Abu Dhabi Investment Office (ADIO), highlighted the office’s leading role in attracting high-net-worth individuals and entrepreneurs. He noted significant progress in organizing global promotional tours and signing cooperation agreements to connect international investors with local business partners.
Almheiri also shed light on the strong interest in Abu Dhabi’s industrial sector and property market, which remain among the most popular sectors for local and international investors. He added that investments in small and medium enterprises are also on the rise. The office continues to introduce new investment sectors, including artificial intelligence, agriculture, and food security.
He also emphasized the office’s role in streamlining the investment process and attracting talent by offering various services, including issuing commercial licenses, facilitating visa processes for international investors and enabling bank account setup, all of which simplify the investor journey in the emirate.
Public-private partnerships drive growth
Meanwhile, Wadima Almashghouni, senior project manager at the Abu Dhabi Projects and Infrastructure Center, underscored the importance of private sector involvement in managing major projects. She noted that this collaboration strengthens public-private partnerships and helps meet sustainable development needs in the emirate and across the UAE.
She added that the center, established in 2023, currently oversees over 600 government projects in key sectors including education, housing, infrastructure and tourism. These projects are overall worth more than AED200 billion, reinforcing Abu Dhabi’s leadership in investment-driven infrastructure. Almashghouni stated that the center successfully delivered 71 projects worth AED14 billion last year and is working closely with the private sector to implement future projects.
Key announcements at Abu Dhabi Business Week
Abu Dhabi Business Week saw the announcement of several major initiatives that aim to empower businesses and accelerate growth in the emirate. The initiatives, which aim to further cement Abu Dhabi’s status as the “Powerhouse of Tomorrow”, will enhance businesses and equip young generations to explore opportunities.
One of the new initiatives announced at the event was the Abu Dhabi Chamber’s new strategic roadmap, a transformative initiative designed for the private sector and by the private sector. The initiative aims to prioritize the ease of doing business, accelerate growth in key sectors, and empower SMEs and family businesses to prosper in regional and global markets.
Abu Dhabi Business Week also saw the launch of the Abu Dhabi Family Business Council which aims to enhance the emirate’s legacy, driving excellence and empowering a new generation of leaders for future readiness. In a bid to make business easier and simpler, the authority also unveiled the Abu Dhabi Registration Authority (ADRA), an initiative that will simplify business processes and drive economic growth. A groundbreaking initiative to propel support for high-potential startups, the MZN HUB, was also launched on Wednesday.
During the event, ADNOC also signed a strategic collaboration agreement with the Ministry of Industry and Advanced Technology (MoIAT), Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi Investment Office (ADIO), and Abu Dhabi Chamber of Commerce and Industry (ADDCI), aimed at boosting local manufacturing capabilities.
Abu Dhabi also launched a new Golden Vendor list which seeks to enhance local procurement and stimulate investment in domestic businesses. Finally, Abu Dhabi-based NMDC Group revealed the latest step in its remarkable growth and innovation journey: the launch of its new business unit, NMDC LTS.
