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 being briefed during his visit to the Abu Dhabi Finance Week. WAM

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