ADEX sets sights on AED3 bn funding milestone by end of 2023

UAE's robust infrastructure boosted global trade hub status
ADEX sets sights on AED3 bn funding milestone by end of 2023
ADEX already entered into 14 agreements with local, international institutions

According to Mohammed Saif Al Suwaidi, director-general of the Abu Dhabi Fund for Development (ADFD) and chairman of the Exports Executive Committee of the Abu Dhabi Exports Office (ADEX), the UAE possesses a highly developed infrastructure that has significantly enhanced its position as a global trade hub. This robust infrastructure has played a crucial role in attracting foreign investments across diverse sectors.

During an interview with the Emirates News Agency (WAM), Al Suwaidi expressed that ADEX has plans to provide financial support to Emirati manufacturers in order to facilitate their entry into foreign markets. This initiative aims to bolster their reputation and visibility on the global stage, particularly in markets where local alternatives are not readily available.

ADEX has secured a funding amount of AED2.5 billion, with the objective of increasing it to approximately AED3 billion by the conclusion of 2023.

Al Suwaidi emphasized the organization’s commitment to expanding its strategic partnerships, highlighting that ADEX has already entered into 14 agreements and Memoranda of Understanding with both local and international institutions. These collaborations have played a vital role in fostering the growth and advancement of national exports, while also solidifying the UAE’s position on the global trade landscape.

Read more: ADEX establishes $100 mn loan facility to boost UAE exports to Egypt

Enhancing competitiveness

ADEX has played a pivotal role in enhancing the competitiveness of domestic exports by providing credit facilities that empower local companies to expand their commercial operations and access global markets. Additionally, ADEX has extended financial support and guarantees to foreign importers, enabling them to procure goods and services from Emirati exporters under favorable terms and competitive advantages.

Supporting national economy

ADEX has been instrumental in supporting the national economy and fostering its competitiveness since its inception. It has consistently aligned itself with the UAE’s vision of achieving economic diversification, making it a crucial cornerstone for sustainable development.

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