Mohamed Thani Murshed Al Rumaithi, Chairman, Abu Dhabi Chamber of Commerce & Industry (ADCCI), on doing business in the emirate

Mohamed Thani Murshed Al Rumaithi, Chairman, Abu Dhabi Chamber of Commerce & Industry (ADCCI)

Abu Dhabi enjoys a prime position in the region as a leading centre of business. Many of the world’s largest companies have established themselves in the emirate, having been attracted by its healthy business environment. Abu Dhabi offers companies a range of investment opportunities, while creating the right business and legislative environment for investors to grow their respective enterprises.

ADCCI has been a very important component when it comes to the UAE capital’s strategic plans to position itself as the leading destination for major regional and international companies.

The emirate has managed to attract a number of international corporations that are critical to the realisation of Abu Dhabi Economic Vision 2030. This strategy establishes a common framework for aligning all policies and plans that contribute to the ongoing development of the emirate’s economy, while fully engaging the private sector in its implementation.

According to economic studies, Abu Dhabi continues to achieve good rates of economic growth; the average GDP growth rate of the emirate exceeded 14% from 2001 to 2009. The emirate was successfully able to attract foreign investments reaching Dh100bn ($27.22bn) between 2003 and 2010.

Abu Dhabi is also focusing on developing key sectors, with potential for growth looking set to reach a targeted annual growth rate of 7.5%. This in turn will help the emirate diversify the local economy. The most prominent sectors are minerals, aviation, defence, pharmaceuticals, biotechnology, tourism, health care, transportation, trade, logistics, media, financial services and telecommunications.

The chamber supports the government’s efforts of promoting Abu Dhabi as an economic and industrial hub in the region. ADCCI is working with key partners in Abu Dhabi to boost foreign investments and promote services and facilities through its participation in Arab, regional and international exhibitions that are targeted towards business and investment.

During the course of 2012, ADCCI doubled its efforts to support Abu Dhabi’s economy to help position the emirate as a leading business destination. This vision fits perfectly with the aspirations of the private sector to play a greater role in the current economic boom. Our focus going forward will be to continue to develop policies and strategies that will help ADCCI retain its standing as a key player when it comes to driving new development within Abu Dhabi.

The partnership between private and public sectors is a fundamental part of the Economic Vision 2030. In fact, the long-term strategy is the result of a concerted effort among a number of public sector and joint public-private sector entities.

Abu Dhabi is fast emerging as a regional business centre and gateway for global players today, driven by a competitive business environment that attracts investment from all over the world. It is in this context that ADCCI is spearheading the participation of business enterprises in the emirate’s economic growth and helping them become a part of its success story.

In 2012 a number of UAE nationals graduated as part of the Abu Dhabi International Centre for Organisational Excellence (ADICOE), a subsidiary of ADCCI. ADICOE aims to strengthen both private and public sector organisations’ ability to compete, by building strong human capital, and at the same time contributing towards the process of emiratisation.

ADCCI forecasts show that Abu Dhabi will experience growth of 4.5% in 2012. This rate is being achieved despite the fact that the global financial crisis is still affecting many countries.

ADCCI has come a long way; its role does not just include management work and providing licences. Much of its efforts go towards supporting investors with information on investment opportunities and also providing them with counselling and advice based on various economic studies, making the chamber an essential component when it comes to helping fulfil the economic vision held by the emirate’s leaders.

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Mohamed Thani Murshed Al Rumaithi

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The Report: Abu Dhabi 2013

Economy chapter from The Report: Abu Dhabi 2013

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