Published March 2, 2023

2 minute read

Abu Dhabi: Rising as a Leading Global City

Abu Dhabi Chairman H.E Ahmed Jasim Al Zaabi shares how AD is emerging as a leading city with economic diversification, growth in non-oil sectors, and a focus on sustainability.

Session Speakers: 
H.E. Ahmed Jasim Al Zaabi

H.E. Ahmed Jasim Al Zaabi

Chairman, Abu Dhabi Department of Economic Development

Share this content

Add to Favorite 🤍 0

Listen to this content

Key Takeaways

  • Abu Dhabi's economy is experiencing rapid growth, focusing on non-oil sectors and collaboration between the public and private sectors.
  • The city is becoming a destination of choice for living, investing, and thriving due to its strategic location, supportive local government, and excellent infrastructure.
  • The UAE is committed to energy transition and sustainability, with plans to create a clean energy powerhouse and achieve net zero targets.
  • Abu Dhabi is securing investments from multinationals and has seen strong growth in the real estate, tourism, and aviation sectors.
  • The city is positioning itself in the global markets and has one of the most prominent sovereign wealth funds, making it an attractive option for investors.
  • Abu Dhabi is currently working on a clear roadmap toward COP28 and is committed to becoming a leading clean energy powerhouse for the future. A total of $15bn will be invested towards achieving our net zero targets locally and globally.

Abu Dhabi has emerged as a leading city in the past few years, experiencing a "golden era" of transformation and economic diversification, according to H.E Ahmed Jasim Al Zaabi, Chairman of the Department of Economic Development in Abu Dhabi. In an "Abu Dhabi on the Global Map" session at Investopia 2023, Al Zaabi discussed the city's rapid economic growth and its emergence as a destination of choice for living, investing, and thriving.

Al Zaabi credited AD's economic growth to a clear vision, agile policies, and regulations the city's leadership set. The city's focus on non-oil sectors and collaboration between the public and private sectors has led to more than half of its GDP coming from non-oil sectors, demonstrating the most robust growth in the region. Additionally, AD has experienced remarkable growth of 20% in the real estate sector, with booming tourism and high hotel occupancy rates.

The city's airports and airlines have also seen significant growth, with a 250% increase from the same period in 2021. Al Zaabi highlighted AD's robust industrial strategy, a $10bn program, as a critical economic growth and development driver. The city also secures multinational investments, with incentive programs driving investment growth.

AD is making strides in innovation and sustainability as well. The city's Smart Manufacturing Index provides knowledge for 4.0 tech and innovation-driven enterprises. Regarding energy transition and sustainability, Al Zaabi mentioned that the city is developing a clear mandate for the road to COP28 and is creating a clean energy powerhouse for the future. AD is investing $15bn towards net zero targets locally and globally.

The city also stretches its positioning in global markets, with a vast international appetite and a daily trading volume of 1.7m dirhams. Additionally, AD is home to the most prominent sovereign wealth funds, and ADGM has experienced one of its best growth periods. AD G42 has launched a $10bn dollars expansion fund to help the next generation of private enterprises.

Al Zaabi emphasized that companies choose AD due to its supportive local government, robust policies and regulations, and direct application of common law. The city offers the best schools, hospitals, and excellent visa programs, making it the happiest place in the region.

In conclusion, Al Zaabi stated that AD's journey of success has just begun and will continue to flourish in the region. He encouraged attendees to join AD and the falcon economy, stating that it is just the beginning and they will double down on their efforts. The session provided valuable insights into AD's economic growth and development, positioning the city as a destination for investors and entrepreneurs looking to thrive in a rapidly transforming global market.

More from Investopia

Billionaires Take Over Football: How Money is Changing the Sport

Panel discusses financial power in sports investment, its impact on competitiveness, and regulation.

Global Trade in the Age of Sustainability: Insights from Industry Leaders

In this session, H.E. Dr. Thani Al Zeyoudi, Chris Cox, Samaila Zubairu, and James Zhan discuss harnessing the power of global trade for investment and growth and the importance of diversification, sustainable investment, and building strategic partnerships.

· March 3, 2023

Growth Opportunities in the Decarbonization Era: Industry Leaders Discuss Challenges and Solutions

In this session, Euroclear CEO Lieve Mostrey and GFG Alliance Executive Chairman Sanjeev Gupta discuss decarbonization opportunities and challenges.

· March 3, 2023

Mindset Shift: Collaborating for a Sustainable Future with Private, Public, and Social Sectors

In this session, industry leaders discuss sustainable practices and the importance of collaboration between the public and private sectors, social enterprises and NGOs, and academia for achieving sustainability goals.

· March 3, 2023

Paymob CEO Shares Insights on Building Successful Startups in the Middle East

In this session, Paymob CEO Islam Shawky shares his experience in building a successful business in the Middle East, discussing his vision for the future and emphasizing the importance of value-driven growth, perseverance, and strong partnerships.

· March 3, 2023

Exploring the Future of Precision Healthcare: Insights from Industry Leaders

Dr. Gianvito Martino, Dr. Michael Severino, and Ashish Joseph share insights on the trends and challenges in precision medicine and the qualities needed in leaders to drive the next stage of healthcare innovation.

· March 3, 2023
1 2 3 9
magnifiercrossmenu
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram