Abu Dhabi Investment Forum In Shanghai Highlights Economic Growth And Global Investment Opportunities

Abu Dhabi is positioning itself as a global centre for industry and innovation, driven by swift economic growth and strategic investments. Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, shared insights at the Abu Dhabi Investment Forum in Shanghai. He mentioned that experts have dubbed it 'The Falcon Economy' due to its rapid development.

Al Zaabi emphasised Abu Dhabi's transformation, highlighting its strategic location at the intersection of Europe, Asia, and Africa. This position makes it a crucial player in global trade. The emirate's sovereign wealth assets surpass $1.7 trillion, placing it among the world's leading financial centres, often called "The Capital of Capital".

Abu Dhabi boasts one of the highest GDPs per capita globally and is the fastest-growing economy in the Middle East and North Africa region. In 2023, it contributed 68 percent to the UAE's GDP. The emirate's pro-business policies include a favourable tax environment with no personal income tax and a low corporate tax rate.

The emirate's free zones allow full foreign ownership, attracting global investors to advanced industries and technology sectors. Al Zaabi noted that these policies make Abu Dhabi an appealing destination for international businesses seeking growth opportunities.

A key component of Abu Dhabi's transformation is its Industrial Strategy, which involves a $2.7 billion investment across six major programmes. This strategy aims to double the manufacturing sector to $46 billion and boost non-oil exports by 143 percent to $48 billion. It focuses on advanced manufacturing, Industry 4.0, and talent development.

Through Comprehensive Economic Partnership Agreements with over 24 countries like India, Türkiye, Cambodia, and Indonesia, Abu Dhabi offers seamless access to large consumer markets. "This is complemented by world-class customs and trade facilitation systems that ensure efficient and secure operations," Al Zaabi illustrated.

Investment Forum Highlights

The Abu Dhabi Investment Forum in Shanghai was organised by the Abu Dhabi Investment Office and the Abu Dhabi Global Market. It included panel discussions, bilateral meetings, and presentations from key economic stakeholders from both regions. The event provided a platform for business leaders to explore Abu Dhabi's expanding opportunities in technology, financial services, healthcare, and trade.

"As the global order re-assembles and redefines and giga-trends of energy, technology, and environment effect how global economies transition," Al Zaabi concluded, "Abu Dhabi emerges as a key global hub in the coming decades."

With inputs from WAM