Adia may focus on China, India for growth

Abu Dhabi: Abu Dhabi Investment Authority (Adia), one of the world’s largest sovereign wealth funds, may be looking at focusing its investments in Asia, particularly in China and India as they are “better placed to grow in the years ahead.”

In its annual review that was released on Wednesday, Adia said that emerging economies that are positioned as commodity consumers rather than commodity suppliers are expected to perform better.

The fund said both China and India “offer promise based on evident efforts to reform.”

“China is making great strides in integrating its capital markets into global markets, and there are optimistic signs that India is seeking to open its markets to trade and outside investment. In both cases, these are processes, not events, and we look forward to continued progress on these fronts and offering our support wherever possible,” said Shaikh Hamed Bin Zayed Al Nahyan, Adia’s managing director.

He added that emerging economies are also making impressive progress in their efforts for digital transformation and adopting alternative sources of energy to reduce carbon footprint.

“Evidently, these trends also hold the potential for more interesting opportunities to invest,” Shaikh Hamed said, adding that the “potential for better growth outcomes in emerging markets remains clear”.