ADX, French Business Group discuss investment opportunities

Business Bureau, Gulf Today

The Abu Dhabi Securities Exchange (ADX), region’s leading financial market, recently hosted the French Business Group delegation during which the operational framework, vision, mission, and investment opportunities at ADX were highlighted.

Abdul Aziz Al Neaimi, Assistant Chief Executive of ADX, welcomed the visiting delegation stating: “ADX is keen to strengthen community outreach with investors in the financial markets in the aim of developing investment awareness so as for investors to gain profitable and secure returns “. Al Neaimi added that ADX has adopted a strategic initiative aimed at developing investment awareness by introducing investors to investment opportunities and identifying the most important challenges and opportunities facing investment.

During the meeting, the Assistant Chief Executive of ADX, presented to the delegation the Exchange’s key achievements while underlying that ADX is considered a preferred destination for foreign investments in the region, as a result of its strong performance noting that the Exchange offers one of the highest dividend yields in the region and globally.

Al Neaimi reiterated the importance of meeting and collaborating with foreign business councils in the UAE to display the advantages of investing on the Exchange. He noted that cooperation with the French Business Group is an important platform to open a dialogue with French nationals residing in the country. Moreover, these meetings are part of ADX’s larger strategic objectives to attract investors and enhance the investment environment in the Emirate – a move that is in line with the Abu Dhabi Economic Vision 2030.

The number of French investors on the Exchange stood at 487 by the end of 2018 of which 34 are institutional investors. The total value of their trades (buy + sell) during 2018 amounted to about Dhs45 million. By the end of 2018, the value of shares they owned exceeded Dhs120 million compared to Dhs94 million by the end of 2017, representing an increase of 29 per cent.

During the meeting, the positive results achieved by the Exchange during the first quarter of 2019 were also highlighted. Trading values reached about Dhs12 billion compared to about Dhs9 billion in the same period of 2018, an increase of 32.5 per cent. Whereas net foreign investment during the first quarter of 2019 alone stood to about Dhs1.3 billion compared to Dhs321 million in the same period last year, representing a growth of 294 per cent. Furthermore, net institutional investment increased by 13.2 per cent during the first quarter of 2019, with Dhs802 million compared to Dhs708 million in the same period of 2018.

On her part, Mrs. Helena Daniel, Executive Director of the French Business Group. Said:” We thank the Abu Dhabi Securities Exchange for hosting us, and we are pleased to build a partnership with the market for the mutual benefit of both parties. We look forward to further enhancing and strengthening our relationships “. She added:” the financial sector is a strategic sector in Abu Dhabi Economic Vision 2030 and therefore represents an important part of the French business group “.

The meeting concluded with an explanation of the Exchange’s efforts to ensure listed companies’ adherence to the OECD’s governance standards, as well as ADX’s recent accession to the United Nations Sustainable Stock Exchange initiative to ensure sustainability and transparency. This is in line with the Exchange’s objectives and strategy of sustainability, and its commitment to Abu Dhabi Economic Vision 2030 and UAE Vision 2021.

Earlier in the beginning of April, Business France jointly with EVOLEN, and the French Business Group hosted the 4th annual UAE France Oil and Gas Connecting Days in Abu Dhabi. Launched under the patronage of Ludovic Pouille, Ambassador of France to the United Arab Emirates, the two-day forum focused on Digitalisation, Energy Efficiency, New Technologies for Gas Processing and Plant Operations. The topics presented in a series of presentations of new solutions by the French innovative companies participating, towards Adnoc Group’s key decision makers.

Since 2015, the UAE France Oil and Gas Connecting Days has become an essential rendez-vous between UAE and France in the Oil & Gas sector. This year with the support of Total in the UAE as gold sponsor and Schneider Electric as silver sponsor, over 10 companies were represented to showcase the latest technology and industry innovations.

The forum took place in two distinct locations bridging the topics with live demonstrations. On the first day of the event took place at Sofitel Abu Dhabi Corniche, next to the Sheikh Khalifa Energy Complex where Adnoc subsidiaries are located. On the second day, French companies met Adnoc operational teams in the Ruwais Industrial Area where hydrocarbons are processed.

The historical ties between the United Arab Emirates and France having served as a strong base in bilateral cooperations in an important number of domains, is particulary prevalent in Oil & Gas field.

The strong innovative capabilities of the French industry in Energy, Oil and Gas sectors will help to strengthen business relationships between Emirati and French organisations.