"AT THE HEART OF ABU DHABI GLOBAL MARKET'S STRATEGY IS THE SPIRIT OF LONG-TERM PARTNERSHIP AND COLLABORATION - LOCALLY, REGIONALLY AND INTERNATIONALLY."
Launched in 2008, the Abu Dhabi Economic Policy called for an industry clustering strategy based on sectors in which the Emirate already has a natural competitive advantage or an existing base or a critical mass of assets. As a result, we have seen sectors such as real estate and tourism, aviation, logistics, energy, and media - among others - begin to flourish.
A healthy financial services sector is not only identified as one of the nine pillars in the Abu Dhabi Economic Vision, but as illustrated in major cities globally, it is an integral component to developing and sustaining a diversified economy.
The Emirate has a robust and successful finance heritage - with a well-diversified portfolio across asset classes, geographies and sectors that all share the same deliberate and long term view of investment.
It was the discovery of oil and gas in the late 1960s that provided the opportunity to build and diversify a strong economy in line with the vision of Sheikh Zayed Bin Sultan Al Nahyan. In accordance with the plans drawn up under his leadership, the supervision of His Highness Sheikh Khalifa bin Zayed, Ruler of Abu Dhabi, and the guidance and direction of His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, Abu Dhabi has developed its significant reserves of oil and gas and, from them, built a diversified economy with more than US$1 trillion of investable assets under management.
It is within this context that Abu Dhabi's ambition for a global financial centre and the establishment of Abu Dhabi Global Market is a natural next step for the Emirate and the UAE.
Abu Dhabi Global Market will employ the inherent strengths of the Abu Dhabi economy to become an international financial centre that, in time, will rank alongside the world's leading centres, such as Shanghai, Singapore, London and New York, operating in partnership with them.
Abu Dhabi Global Market will offer a business friendly and well regulated environment on Al Maryah Island with zero-tax environment for 50 years. Abu Dhabi Global Market will centre around three key sectors which it views as Abu Dhabi’s natural strength, they are Private Banking, Wealth Management and Asset Management and will grow according to market demand to eventually become a broad based IFC.
At the heart of Abu Dhabi Global Market's strategy is the spirit of long-term partnership and collaboration - locally, regionally and internationally.
And it was this very same spirit, centuries ago, that allowed us to trade with distant nations from around the world, earning us an international reputation as a trusted and reliable trading partner. This blueprint of exchange between the UAE and the world beyond promises to grow in the future as this country becomes an even greater influential hub for global commerce.