Gulf Today, Tues, Nov 28, 2023 | Jumada Al-Uola 14, 1445
Abu Dhabi Finance Week takes off with 3,500 global and regional firms
His Highness Sheikh Khaled Bin Mohamed Bin
Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi
Executive Council, has inaugurated the second edition of Abu Dhabi Finance
Week (ADFW 2023), taking place from Nov.27 to 30, under the theme ‘Investing
in the Transition Era’.
The event is held under Sheikh Khaled’s patronage, and presented by Abu
Dhabi Global Market (ADGM), in collaboration with the Abu Dhabi Department
of Economic Development (ADDED).
Sheikh Khaled met senior executives and policymakers from the global finance
industry who are participating in ADFW, to explore opportunities and
challenges presented by economic, technological, and sustainability-related
transitions impacting the global economic landscape.
He also met a number of entrepreneurs from the startup ecosystem and was
briefed on their innovations that are facilitating financial sustainability
and thriving as part of Abu Dhabi’s dynamic financial ecosystem.
Sheikh Khaled highlighted the role of Abu Dhabi Finance Week in elevating
the emirate’s prominence as a leading investment hub and major player in the
financial landscape, and emphasised that this has been achieved this through
various strategic initiatives that have contributed to its attractive
investment environment as part the emirate’s growth as a knowledge-based,
sustainable economy, with a strategic focus on key sectors.
Sheikh Khaled was accompanied by Dr Ahmed Mubarak Al Mazrouei, Chairman of
the Abu Dhabi Executive Office; Mohammed Ali Al Shorafa, Chairman of the
Department of Municipalities and Transport; Ahmed Jasim Al Zaabi, Chairman
of ADDED and ADGM; Mansoor Ibrahim Al Mansoori, Chairman of the Department
of Health - Abu Dhabi; Ahmed Tamim Hisham Al Kuttab, Chairman of the
Department of Government Enablement — Abu Dhabi; and Saif Saeed Ghobash,
Secretary-General of the Abu Dhabi Executive Council.
Ahmed Jasim Al Zaabi, Chairman of ADDED and ADGM, said, “Abu Dhabi Finance
Week has rapidly become one of the largest events of its kind in the Middle
East, garnering global attention, and reaffirming the pivotal role of Abu
Dhabi, the Capital of Capital, in leading global conversations to reshape
the financial and economic landscape in line with tectonic shifts at
regional and international levels. The event showcases the pioneering spirit
of the global financial sector and the wealth of talent and innovation in
Abu Dhabi and the UAE. With a robust agenda, it convenes financial leaders
and policymakers to engage with transformative ideas that shape our global
financial landscape and address the challenges of the transitioning era.”
Abu Dhabi Finance Week 2023 is expected to attract over 3,500 global and
regional companies, and over 10,000 global financial leaders from 100+
countries, showcasing key facets of the Falcon Economy, which symbolises the
UAE’s growth as a leading global economy and Abu Dhabi’s prominent role as
an international centre of finance.
Sharing the speech delivered by Ahmed Jasim Al Zaabi, Chairman of the Abu
Dhabi Department of Economic Development and ADGM, during the opening
ceremony of Abu Dhabi Finance Week 2023.
“I’d like to begin by sharing a thought that has always resonated with me.
“Money talks, wealth whispers and power is silent” In a world where actions
speak louder than words. We in ABu Dhabi have understood the value of
diligent work/sound economic policies and the importance of economic power
that resonates beyond borders.”
“As we reflect on our economic journey it is important to recognise the
strides we’ve made in diversifying our economy. This year our non-oil sector
showed a robust increase growing by an impressive 12% in the second quarter.
Non-oil sectors now comprise nearly 54% of our total GDP.”
“Additionally our non-oil foreign merchandise trade has expanded by 13% by
the end of the third quarter this year.” “Such figures stand as a testament
to our nation’s dynamic economic growth and diversified strength.”
The financial sector a cornerstone of our economy’s diversification has
surged by a remarkable 30% in the second quarter of this year and is
expected to continue its upward trajectory with an annual growth of 13% in
2023.
Beyond the numbers our leadership has shown us the path to not just
accumulating wealth but utilizing it responsibly for the betterment of our
nation and the world.
In this context I’m reminded of a profound quote by our Founding Father the
late Sheikh Zayed Bin Sultan Al Nahyan (may his soul rest in peace). He said
“Wealth is not in money. Wealth lies in mankind. This is where true power
lies...the power we value.”
These words encapsulate the essence of our commitment to sustainable
development the preservation of our culture and the advancement of our
society. It is a testament to our leadership’s enduring vision and legacy
Economic winds have shifted/ and the sands beneath us have been unsteady.
But like the dunes of our magnificent desert / we too adapt and reshape
ourselves. We have not just endured; we have thrived.
“We are delivering our promise! Today Abu Dhabi’s ‘Falcon Economy’ is
accelerating our ambitions by exploring untapped potential soaring to new
heights of success.”
WAM