Abu Dhabi, United Arab Emirates: The Abu Dhabi Family Business Council (ADFBC), an affiliate of the Abu Dhabi Chamber of Commerce and Industry, has signed a cooperation agreement with the Family Business Council Gulf (FBCG), a non-profit organisation dedicated to supporting the sustainability and long-term success of family businesses across the Gulf Cooperation Council.

The agreement aims to reinforce the resilience and competitiveness of family enterprises, regionally and globally, in line with Abu Dhabi’s ambition to consolidate its role as a global hub for family business and private sector leadership.

The agreement was signed by His Excellency Khaled Al Fahim, Chairman of the Abu Dhabi Family Business Council and Board Member of the Abu Dhabi Chamber of Commerce and Industry, and Mr Badr Al Ghurair, Board Member of Family Business Council Gulf, on the sidelines of Abu Dhabi Finance Week (ADFW).

The areas of cooperation include capability-building programmes, next-generation leadership development, the advancement of family governance initiatives, the organisation of introductory forums and workshops, as well as the issuance of benchmarking studies and policy papers addressing the future challenges facing family businesses in the region. The partnership will also promote best practices in strategic planning, business continuity and family governance,  in addition to providing a program focused on leadership succession and family governance.

The agreement sets out a joint work plan focused on developing specialised training programmes for next-generation leaders within family businesses, launching family governance initiatives, designing succession and continuity frameworks, and collaborating on the preparation of benchmarking studies and policy papers that contribute to a deeper understanding of the family business landscape in the region and help anticipate future trends.

It further provides for the organisation of high-level events, roundtables, and dialogue groups that bring together family business leaders, policymakers, and international experts, while establishing knowledge-sharing channels that connect the local and regional family business communities.

Under the agreement, the participating entities commit to ensuring that all programs and workshops hosted in Abu Dhabi are conducted in coordination with the Abu Dhabi Family Business Council, aligning with the emirate’s economic and institutional priorities and reinforcing its position as a global centre for sustainable, multi-generational family enterprises.

Commenting on the signing, His Excellency Khaled Al Fahim, Chairman of the Abu Dhabi Family Business Council and Board Member of the Abu Dhabi Chamber of Commerce and Industry, said: "This agreement marks a pivotal milestone in strengthening the role of family businesses as a strategic pillar of economic development. Investing in capability building, knowledge transfer and governance is the most effective guarantee for ensuring continuity across generations and supporting economic diversification in the Emirate of Abu Dhabi."

He added: "Today, we stand at a stage that requires a  transformation in managerial thinking within family businesses- shifting from a model rooted in inherited experience to an institutional model built on governance, strategic planning, asset management, and future foresight.”

Chairman of Family Business Council Gulf, Hind Bahwan, noted“The Gulf region is undergoing a promising phase of economic growth, with family businesses at the forefront of this transformation. I am confident that this partnership will open new, high-value opportunities for the future of family enterprises in the region and will contribute to creating lasting impact while reinforcing their role in shaping the next chapter of economic development.”

Badr Al Ghurair, Board Member of the Family Business Council-Gulf said: “This partnership represents a significant step in expanding our community in Abu Dhabi. By connecting the emirate’s dynamic family business ecosystem with our global network of over 20,000 members across 65 countries, we are creating new opportunities for collaboration and growth. Abu Dhabi’s unique position as a hub for continuity, governance and generational wealth makes it the ideal destination for global families seeking to shape a more prosperous shared future.”

The agreement comes at a time of growing recognition of the central economic role played by family businesses. Regional studies indicate that family businesses account for up to 90% of private sector companies in the Middle East, contribute around 60% of GDP, and generate nearly 80% of private sector employment, making them a cornerstone of national economies and a key engine of growth and diversification.

In the United Arab Emirates, family businesses contribute 60% of GDP, employ 80% of the workforce and represent approximately 90% of private sector companies. These enterprises operate across a broad range of vital sectors including the new economy, hospitality, retail, real estate and construction.

In Abu Dhabi specifically, family businesses account for 50% of companies in the construction sector, 60% in financial services, 80% in wholesale trade and 70% in transport.

Globally, family businesses generate nearly 70% of global GDP, representing more than two-thirds of worldwide economic activity, and employ approximately 60% of the global workforce, underscoring their role as the world’s largest employer and a cornerstone of economic stability.

This agreement is expected to help establish a reference framework for family businesses in the UAE and the wider region, while strengthening Abu Dhabi’s position as a global destination for sustainable enterprise and intergenerational planning, in line with the vision of the UAE’s wise leadership for a more diversified and resilient economy.

The Family Business Council Gulf (FBCG) was established in 2013 as the leading non-profit, organisation dedicated to supporting family businesses in the Gulf. Its mission is to bring together and strengthen family enterprises in the GCC to advance together across generations. FBCG focuses on governance development, leadership succession, and smooth generational transition, in addition to conducting specialised research, enhancing regional and international representation, and supporting family businesses in adapting to economic change and unlocking new growth opportunities.