Abu Dhabi Chamber
Abu Dhabi Chamber wants to tap more private sector investments and has come up with a revised strategy to make things happen. Image Credit: WAM

Dubai: The Abu Dhabi Chamber has launched a new strategy to bolster private sector activities in the emirate. Over the next three years, the Chamber will focus on creating such an environment and expand scope of the PPP (Public Private Partnership) model to increase investments.

There will also be the launch of a global arbitration centre in Abu Dhabi, which will bring together international best practices for regional and local businesses to take full advantage of alternative dispute resolution.

“We exist to empower businesses and enable the private sector to reach its full potential within a competitive state-of-the-art ecosystem,” said Karl Magnus Olsson, Chairman of the Transformation Committee. “Two key words here are empowering and supporting, and the other one is we want the private sector to be competitive, and not only in Abu Dhabi, we want it to be globally.”

First choice

The Abu Dhabi Chamber will encourage companies to oversee digitization, thus making sure the emirate becomes the number one choice for businesses in the MENA region. “The Chamber would act as a policy advocate, networker and service provider for the private sector,” said Olsson.

The Chamber is increasingly focussing on being the interface between the private sector and the government and providing a platform to discuss opportunities and challenges and come up with new ideas to make the business environment better.

Key initiatives

The Chamber will run sector-specific working groups in Abu Dhabi, where the entity will identify challenges and set a roadmap for each sector. “We will listen and work together with representatives from the private sector and collaborate with government partners,” said Olsson. “We will also develop policy recommendations that we will take to the government.”

The second initiative has to do with regulation. The Chamber will ensure when a new law is drafted, the private sector's perspectives are reflected.

The third area will have the Chamber ‘running the flagship event - Abu Dhabi Business Forum’.

Network and service provider

Olsson said that being a service provider does not mean the Chamber will compete with the private sector. “We're not going to go out and do services that the private sector can do themselves,” said Olsson. “No, this is about offering services to the private sector, where the Chamber is uniquely positioned to deliver these services.”

Six strategic objectives for 2023-25

  • The Chamber aims to become the number one advocate for the private sector's needs and the main communication channel between the private sector and the government.
  • It will be the leader of the private sector working groups in Abu Dhabi.
  • The Chamber will be the go-to entity for identifying relevant business partners, locally and abroad.
  • The entity will be the number one platform for ecosystem navigation.
  • It will be a full digital service provider; and
  • Be the go-to entity for private-sector data and insights