Abu Dhabi’s economic strategy laying foundation for growth and investments in UAE

The capital of United Arab Emirates, Abu Dhabi is taking the lead with its highly proficient economic strategy to attract global investments to the Emirates, thereby supporting the economic growth, prosperity and diversification of the country and its people.

Abu Dhabi hosting investments forum

In this direction, Abu Dhabi is hosting the 12^th Annual Investment Forum, scheduled to be held from 8 to 10 May 2023, under the slogan “Transformation in Investments: Future Investment Opportunities to Promote Sustainable Economic Growth, Diversity and Prosperity”. The forum will be decorated with the presence and participation of representatives of various countries, major global investors and international business leaders who will be focusing on the discussions to promote sustainable development and future solutions for the global economy. The hosting is supported by the Ministry of Industry and Advanced Technology in the UAE, and is in line with its efforts to attract global investors, manufacturers and entrepreneurs to establish their businesses and investments in UAE as part of the “Make in the UAE” campaign, forming the foundation of Abu Dhabi economic strategy. The announcement was made during a press conference held in Abu Dhabi, in the presence of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Vice Chairman of the Industrial Development Council, and Muhammad Ali Al Shurafa, Head of the Department of Economic Development – Abu Dhabi.

Al Zeyoudi added: “The forum will enhance the UAE’s contribution to the regional and international efforts that stimulate the global business sector, and consolidate its position on the international investment map as a preferred destination for the flow of investments from various countries of the world, and it occupies advanced ranks among the best global destinations that attract foreign investment.”

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Mohammed Ali Al Shurafa, Chairman of the Department of Economic Development – Abu Dhabi, stressed that the economic strategy of Abu Dhabi is leading with focus on developing innovation and digital transformation, thereby making Abu Dhabi a ground for investments and at the one of the best economic places. He said, “We are pleased to organize the Annual Investment Forum in Abu Dhabi, which has established itself as a preferred and thriving destination for business and investments due to its proactive and open approach in dealing with changes. We hope that the forum will be a platform to discuss the trends of the economy and investment, and to propose appropriate solutions to deal with developments and changes in the global economic scene.”

ADDED links Abu Dhabi freezones

Abu Dhabi Department of Economic Development (ADDED), as part of its efforts and initiatives to bolster business environment, has completed the electronic linking process with the free economic zones in Abu Dhabi, which includes four zones: the KEZAD Group, which includes 12 economic zones, the Abu Dhabi Airports Free Zone, the Media Zone – Abu Dhabi, and the Free Zone in Abu Dhabi City. Masdar, with the focus on of integration and creation of a unified database of economic licenses in Abu Dhabi.

Mohamed Ali Al Shorafa, Chairman of ADDED and the Free Zones Council, which supervises freezones and include operators’ representatives in its membership, said, “Abu Dhabi has established itself among the leading global centres for innovation and competitiveness. The emirate has nurtured a supportive business environment, unparalleled connectivity, and infrastructure, presenting investors and entrepreneurs ample opportunities to grow and thrive. Our digital transformation journey enables and supports an integrated and proactive digital government, facilitated through advanced and innovative solutions. Completing the e-link project and unifying commercial register will spur freezones’ contribution to sustainable economic development and further enhance the ecosystem to attract investments.”

The e-link with freezones will help in providing information and data of the beneficial owner of economic establishments according to the UAE’s laws and regulations. This will be instrumental in enhancing and showcasing the country’s status of adhering to the international standards of transparency and governance.