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Abu Dhabi opens global hubs to boost support for investors

Abu Dhabi - Offices will serve as a bridge between key international markets and opportunities in UAE.

The Abu Dhabi Investment Office (ADIO) has established eight global hubs to help investors unlock opportunities in Abu Dhabi.

The new offices are established in Tel Aviv, New York, San Francisco, Frankfurt, London, Paris, Beijing and Seoul, as part of a series of strategic initiatives it is undertaking to boost support for investors around the world.

The global network of offices in collaboration with the Abu Dhabi Department of Economic Development (ADDED) expands ADIO’s reach in key overseas markets where it is looking to attract innovative businesses to establish and grow in the emirate.

“Abu Dhabi is keen to continue building distinctive strategic economic relations with our international partners by promoting joint investment opportunities and supporting global innovators and companies, with the aim of pursuing technological advancements to realise sustainable economic development for the emirate. In this context, ADIO’s opening of eight regional offices around the world reflects Abu Dhabi’s commitment to launch greater investment opportunities in collaboration with the emirate’s key international partners," .Mohammed Ali Al Shorafa, Chairman of ADDED and ADIO, said.

He said the representative offices will serve as a bridge between key international markets and the exciting opportunities in some of "our economy’s highest potential areas, opening up new areas" for cooperation between the domestic private sector and its international counterparts.

Abu Dhabi is ranked 12th globally in the World Bank’s Ease of Doing Business Subnational Report 2020 and has cemented its position as a leading investment destination. Its enabling business environment, established infrastructure and unparalleled support help to drive significant commercial opportunities for innovative companies. ADIO’s international offices network will focus on facilitating connections between companies in their respective markets and Abu Dhabi, introducing international investors to the advantages of expanding to the emirate.

To enable seamless support for companies across the world, the international offices will leverage local capabilities in international markets, allowing ADIO to tailor its offering to meet the needs of investors globally. International startups and businesses will find it easier than ever to access the full range of support that ADIO provides, including its investor care services and incentives.

ADIO’s international expansion complements its new Dh2 billion ($545 million) Innovation Programme, which provides financial and non-financial incentives to innovation-driven businesses in high-growth areas, by facilitating a targeted approach to support investors from around the world.

Dr. Tariq Bin Hendi, director-general of ADIO, said Abu Dhabi offers global investors an attractive business environment, world-class infrastructure and major growth opportunities.

"Our network of international offices will serve as a gateway to greater opportunity, enabling us to reach companies of all sizes wherever they are operating. Our global teams will provide a window into Abu Dhabi, with local understanding and capabilities, to ensure investors have the holistic support needed for their growth and expansion,” he said.

In September 2020, ADIO announced plans to establish its first international office in Tel Aviv, Israel. It has partnered with Abu Dhabi-based artificial intelligence and cloud computing company Group 42 (G42) on the Tel Aviv location. The co-located office in G42’s recently opened Israel subsidiary will enable closer collaboration between the two Abu Dhabi entities and accelerate opportunities for technology-focused Israeli companies seeking to expand to the emirate.

-- muzaffarrizvi@khaleejtimes.com