A law has been passed setting up the Abu Dhabi Investment Office with direct responsibility to oversee a strategy to increase foreign direct investment into Abu Dhabi.
As part of the emirate’s “Ghadan 21” programme, the Investment Office’s activities will expand to include “key levers to accelerate economic growth such as public-private partnership (PPP) and targeted incentives for priority sectors such as technology, tourism, and advanced manufacturing”.
President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, also issued a law to enhance partnership between the public and private sectors.
The UAE pulled in 37 per cent of FDI flows into the Middle East and North Africa during 2017. Its FDI stock has increased from $64 billion to $130 billion since 2010.
ADIO will implement the FDI strategy through multiple initiatives, including the establishment of a PPP Centre of Excellence. This platform will be designed to “deliver best practices and develop attractive investment models for international and local investors, in line with the Government of Abu Dhabi’s economic strategy”.
“With a growing, diversified economy, it is essential we continue to attract inward investment from international players,” said Saif Mohammad Al Hajeri, Chairman of Abu Dhabi Department of Economic Development. “Abu Dhabi is one of the world’s most attractive investment destinations and I am confident that ADIO will drive further progress in line with our economic strategy.”