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Haitham Al-Subaihi, Acting Executive Director of Business Development and Promotion at the Abu Dhabi Investment Office, said that the office’s innovation program has so far succeeded in providing financial and non-financial support packages to nearly 50 local and international companies qualified to develop and expand their business in Abu Dhabi.
Al-Subaihi added, on the sidelines of the Annual Investment Forum 2023, that the Emirate of Abu Dhabi is considered one of the best places in the world in terms of ease of doing business, as government agencies have made great efforts to facilitate mechanisms for establishing and developing businesses in the emirate.
He pointed out that the mechanisms for establishing and developing businesses in Abu Dhabi included the establishment of commercial companies and their 100% ownership by foreign investors, the reduction of business establishment fees and requirements, a competitive legislative and tax environment, and continuous government interaction and communication with private sector companies.
Al-Subaihi stated that the Abu Dhabi Investment Forum is a vital platform for attracting global investors to the Emirate of Abu Dhabi, as the forum shares with the Abu Dhabi Investment Office the vision aimed at optimal investment in order to promote economic growth and find effective solutions to the most important challenges facing the world, indicating that the organization of the forum comes During a pivotal stage for the global economy, it represents an exemplary platform for embracing creative ideas, enhancing communication and activating business opportunities and relations.
He pointed out that the Abu Dhabi Investment Office is the government agency responsible for providing investment opportunities in the Emirate of Abu Dhabi, as it provides support and incentives to investors and companies of various categories with the aim of enabling them to achieve long and sustainable growth in Abu Dhabi and the region.
It also provides support through integrated and comprehensive services that include providing data and information for business establishment, providing various services such as renting offices and business premises, and completing various procedures related to banking and financial services and others. The office works to connect investors with various partners and actors within the innovation system in Abu Dhabi, and provide them with appropriate business partnerships to help them develop and expand their businesses in Abu Dhabi and lay the right foundations to take advantage of growth opportunities in the region.
He said that the Emirate of Abu Dhabi is making great efforts to move to a competitive, knowledge-based economy, in line with the leadership’s long-term vision for the development and diversification of the national economy. Abu Dhabi also attaches great importance to the culture of creativity and innovation, and places it at the core of its economic strategy that prioritizes long-term investments in knowledge-based sectors that have high growth potential such as agricultural technology, financial services, health services, vital medicines, tourism, and information and communication technology.
He pointed out that the Emirate of Abu Dhabi has succeeded in establishing a business system based on creativity and innovation and supportive of small and emerging companies through a number of business support and enablement agencies such as the Abu Dhabi Investment Office, Abu Dhabi Global Market, “Hub71”, Khalifa Fund, “ADQ” Holding, and Mubadala. . (wam)
