The Abu Dhabi Department of Economic Development (ADDED) led the Emirate’s official economic delegation to the 54th Annual Meeting of the World Economic Forum (WEF) held in Davos-Klosters, Switzerland, to showcase ‘Falcon Economy’s attributes, ample growth opportunities, and commitment to transformative strategies, steering towards a sustainable, green economy that positions Abu Dhabi at the forefront of global initiatives leading to Net Zero, driven by innovation and technology.
The high-level delegation, led by ADDED, comprised key entities including Abu Dhabi Global Market (ADGM), Abu Dhabi Investment Office (ADIO), Hub71, and Abu Dhabi Residence Office (ADRO). Together, they formed a robust platform representing leading economic powerhouses in Abu Dhabi, dedicated to exploring business opportunities and fostering strategic relations with global leaders.
Over the course of four days, the delegation actively engaged in more than 50 bilateral meetings with industry leaders and representatives of both the public and private sectors worldwide. This participation underscores Abu Dhabi’s commitment to contributing to global economic conversations and fostering collaborative efforts towards a sustainable future.
The delegation’s discussions with global economy’s leaders in Davos focused on enhancing cooperation and attract talents, businesses, and investments to grow, thrive and expand out of Abu Dhabi.
His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED, said, “During the past few days at Davos, we met with many esteemed delegates from across the world and shared our efforts to transform into a ‘Green Falcon Economy’ through innovation and entrepreneurism. As the global economy is experiencing multi-faceted transformations impacting all geographies and industries, we believe a collaborative and proactive approach is needed to guide our world to a better future. To this end, we are engaging with global powerhouses to devise innovative solutions to current and future challenges,”.
“Our soaring ‘Falcon Economy’ presents a model of harmonising between advanced technologies, sustainability, human development, and economic growth. Our initiatives to further enhance a vibrant, globally competitive, and entrepreneurial ecosystem to generate opportunities for all, enabling them to reach their full potential are paying off. Foreign investments in Abu Dhabi witnessed a significant 9.7% increase, reaffirming the Emirate’s attractiveness to investors and its rising position as Capital of Capital,” H.E. Al Zaabi added.
ADDED was part of UAE largest delegation to the World Economic Forum (WEF), with over 100 senior representatives of federal and local government entities, and a special pavilion to highlight the UAE’s initiatives to elevate its stature as a hub for global business, finance, trade, and innovation by offering a unique environment of security, stability, global networks, and business opportunities.
H.E. Al Zaabi shared his views on UAE’s approach on bridging East and West by enhance trade and investment flows, and the country’s commitment to foster regional economic integration, referring the vital role played by Comprehensive Economic Partnership Agreements (CEPAs) signed with key partners in this regard.
H.E. also highlighted Abu Dhabi’s efforts to become the regional hub for entrepreneurism and innovation, high-tech Manufacturing, digital and automation, and finance. H.E. elaborated that Abu Dhabi’s future growth model focuses on accelerating the move towards exporting goods, services, and innovations. Senior officials and executives who participated in the ‘Gulf Economies: All In’ panel discussion included H.E. Shaikh Salman bin Khalifa Al Khalifa, Bahrain’s Minister of Finance and National Economy; H.E. Khalid Al-Falih, Minister of Investment, Saudi Arabia; Henadi Al Saleh, Chair of the Board of Directors, Agility, Kuwait; and Majid Jafar, Chief Executive Officer, Crescent Petroleum, UAE.
In panel discussion titled ‘Abu Dhabi: Unleashing High Growth Markets for Global Prosperity’, H.E. Al Zaabi and Mr. Waleed Al Mokarrab Al Muhairi, Deputy Group Chief Executive Officer of Mubadala, examined Abu Dhabi’s shift towards becoming a knowledge-based economy. H.E. Al Zaabi explained that by strategically targeting opportunities in high growth sectors, ADDED sought to inspire investors and innovators to join Abu Dhabi in its journey towards a sustainable and prosperous future.
H.E. Al Zaabi and Badr Al Olama, Acting Director General of Abu Dhabi Investment Office (ADIO), also hosted an event to discuss opportunities for enhanced cooperation in the MENA region. The dialogue saw attendance from a wide range of esteemed delegates.ADDED delegates also attended a roundtable discussion on security and stability in the Middle East, and a roundtable discussion ‘Tech Transformers: Shaping Tomorrow’s Financial Landscape’. Panellists delved into how Artificial Intelligence and advanced technologies are revolutionising business operations across the globe, especially within the financial sector.