State-run Abu Dhabi Investment Office (ADIO) is expanding its presence around the world, including the United States, Israel, China, Germany, France and the United Kingdom, to attract more new businesses to the emirate.
At least eight new ADIO global network offices in Tel Aviv, New York, San Francisco, Frankfurt, London, Paris, Beijing and Seoul have just been established, a statement confirmed on Thursday.
ADIO enables opportunities for domestic and foreign investors aligned with Abu Dhabi’s economic priorities
“[The opening of new offices] reflects Abu Dhabi’s commitment to launch greater investment opportunities in collaboration with the emirate’s key international partners,” said Mohammed Ali Al Shorafa, chairman of ADIO,
“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 of cooperation between the domestic private sector and its international counterparts,” he added.
The World Bank’s Ease of Doing Business Subnational Report 2020 ranked Abu Dhabi 12th globally, highlighting the emirate’s position as a leading investment destination.
According to ADIO, the new offices will “leverage local capabilities” in the global market, thereby allowing Abu Dhabi to tailor its offering to meet the needs of global investors.
“International start-ups 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 said.
In December, ADIO expanded its agricultural technology incentive programme to companies in other high-growth areas, and increased funds available to 2 billion dirhams ($545 million).
(Writing by Cleofe Maceda; editing by Seban Scaria)
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© ZAWYA 2021