ABU DHABI- The Abu Dhabi Investment Office (ADIO) recently welcomed more than 240 UK business leaders, entrepreneurs and innovators to the inaugural event organised by its London office to discuss expansion opportunities to the United Arab Emirates (UAE) capital.
The main event took place virtually and featured speeches and panel discussions on the advantages of investing in the emirate’s enabling business environment. Speakers included two UK companies that have successfully expanded to Abu Dhabi, Florin Court Capital and Callsign. The virtual session was complemented by in-person events and side meetings in London that offered opportunities for exchange of ideas and networking between ADIO and the UK companies in attendance.
Mohammed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development, commented, "Over the last year and a half, Abu Dhabi has shown a strong commitment to supporting businesses by creating an environment where they have access to the tools and help they need to achieve their ambitions. As the world continues to open up, Abu Dhabi is ready to welcome innovators and investors seeking growth in new markets. We’re seeing keen interest from British companies to ramp up cooperation with Abu Dhabi. The inaugural event by ADIO’s London office kicks off a series of outreach and support initiatives for UK investors, as part of our renewed commitment to the local business community."
The event hosted by ADIO’s London office is part of a series of strategic initiatives to help innovative businesses capitalise on opportunities in the emirate, as ADIO doubles down on its efforts to support global investors. Trade and investment activity between the UAE and UK is expected to increase with the new ‘Partnership for the Future’ strengthening bilateral collaboration in innovation-focused areas. According to the UK's Department of International Trade, the UK is the UAE’s 25th largest trading partner, with more than GBP 18.6b in bilateral trade in 2019, up by GBP 11.9b since 2011.
Since its establishment in recent opening, ADIO’s London office has facilitated connections between companies in the UK and Abu Dhabi, leveraging its local capabilities to tailor ADIO’s range of financial and non-financial incentives to meet the needs of UK investors.
Startups and businesses now find it easier than ever to access ADIO’s full range of support. ADIO’s Investor Care services assist investors at every stage of their Abu Dhabi journey, connecting businesses with the wider ecosystem, providing support with licences, permits and visas, data and insights on starting a business, and assistance with real estate and banking facilities, and more.
Additionally, ADIO offers incentives to eligible companies as part of its AED2 billion (GBP 400 million) Innovation Programme to accelerate opportunities for investors and support the development of impactful solutions in Abu Dhabi. The Innovation Programme provides financial and non-financial incentives to innovation-driven companies in high-growth areas, including financial services, information and communications technology, health services and biopharma, tourism and AgTech, among others.
Monira Al-Kuttab, Executive Director, ADIO, said, "For global investors, Abu Dhabi presents abundant growth opportunities, enhanced by a supportive business environment and unparalleled connectivity. ADIO’s London office is a bridge between one of our key international markets and the exciting opportunities in the emirate. It provides access to all the support that investors require as they take their first steps into Abu Dhabi."
Abu Dhabi has cemented its position as a leading global investment destination through its robust business landscape, enabling regulatory environment and established infrastructure. The emirate’s focus on advancing innovation through the private sector stems from the Abu Dhabi leadership’s efforts to diversify the economy.
© Copyright Emirates News Agency (WAM) 2021.