Abu Dhabi, 10th October 2018: The Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) and the Registration Authority of Abu Dhabi Global Market (ADGM), Abu Dhabi’s leading international Financial Centre (IFC), today signed a memorandum of cooperation (MoC) to foster a conducive environment and explore joint efforts to support the development of professional, business and trade associations and non-profit organisations established in Abu Dhabi.
The memorandum was signed by HE Sultan Al Mutawa Al Dhaheri, Executive Director of the Tourism Sector at DCT Abu Dhabi and Mr. Dhaher Bin Dhaher Al Mheiri, CEO of the Registration Authority of Abu Dhabi Global Market.
As a broad-based IFC and business hub, ADGM has an association framework that provides appropriate legal structures and competitive incorporation and annual fees to support the various professional and business-relevant associations established and registered under ADGM.
Under the agreement, DCT-Abu Dhabi will facilitate the cooperation between other governmental bodies to ensure alignment towards objectives and create a holistic offering for associations in terms of conference facilities, hotels, logistics, visa processes for events delegates among others. Both parties will cooperate and support each other for the transfer of knowledge, the development of an approach plan to identify relevant associations and coordinate efforts to attract, promote and support associations and their networking requirements.
HE Saif Saeed Ghobash, Undersecretary of DCT Abu Dhabi said: “This strategic partnership with the Registration Authority of Abu Dhabi Global Market is a key development in our plan to bolster the UAE’s tourism economy and attract both investors and visitors from across the world. Signing today’s agreement allows us to continue to establish the UAE as a global incubator for the standards of tourism, and ensure that Abu Dhabi is showcased as a destination of distinction.”
Dhaher Bin Dhaher Al Mheiri, CEO of the Registration Authority of ADGM said, “The enhanced partnership enables both ADGM and DCT Abu Dhabi to foster a stronger and holistic ecosystem to support the SMEs and growing professional and business associations established in Abu Dhabi and the region. This initiative dovetails well with ADGM’s ongoing efforts to attract more businesses into Abu Dhabi and support our community in their needs and expansion plans. We will continue to work closely with government authorities and agencies to bolster Abu Dhabi’s position as a pro-business hub and international commercial centre.”
To manage and enforce the new collaboration, a joint committee will be established. Both entities have agreed to coordinate efforts in order to work towards meeting the Abu Dhabi 2030 target to build a secure society and an economy which will be able to compete internationally. Non-profit organizations and professional associations are a key component to achieving this target and fulfilling Abu Dhabi’s vision of becoming a global economic hub as they set best practice standards and act as a forum for greater integration and understanding.
About The Department of Culture and Tourism – Abu Dhabi:
The Department of Culture and Tourism – Abu Dhabi conserves and promotes the heritage and culture of Abu Dhabi emirate and leverages them in the development of a world-class, sustainable destination of distinction that enriches the lives of visitors and residents alike. The Department manages the emirate’s tourism sector and markets the destination internationally through a wide range of activities aimed at attracting visitors and investment. Its policies, plans and programmes relate to the preservation of heritage and culture, including protecting archaeological and historical sites and to developing museums, including the Louvre Abu Dhabi, the Zayed National Museum and the Guggenheim Abu Dhabi. The Department of Culture and Tourism supports intellectual and artistic activities and cultural events to nurture a rich cultural environment and honour the emirate’s heritage. A key role played by the Department is to create synergy in the destination’s development through close co-ordination with its wide-ranging stakeholder base.
About Abu Dhabi Global Market:
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi’s position as a global hub for business and finance and serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM’s strategy is anchored by Abu Dhabi’s key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as IFC governs the Al Maryah Island which is a designated financial free zone. It enables registered financial institutions, companies and entities to operate, innovate and success within an international regulatory framework based on Common Law. Since its inception, ADGM has been awarded the “Financial Centre of the Year (MENA)” for two consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.*
For more details of ADGM, please visit www.adgm.com or follow us on Twitter : @adglobalmarket and Linked : ADGM
* Source : The Global Investor Middle East and North Africa (MENA) Awards
For more information Kindly contact:
Afra AL Rashdi
Senior Manager – PR and media