Under the patronage and in the presence of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, Abu Dhabi Finance Week (ADFW) began its four-day series of over 46 sub-events with an opening ceremony hosted under a specially designed event dome in the South Plaza of Abu Dhabi Global Market (ADGM) and followed the launch of the inaugural Abu Dhabi Economic Forum.
The first day of the event ADFW brought together distinguished and high-level leaders from over one hundred countries to witness a range of high-level focused range of sessions, discussing Abu Dhabi’s rise as a global financial centre including keynote speeches, panel discussions,
workshops, and presentations.
These sessions offered insights into Abu Dhabi’s emergence as an international financial centre, the investment strategies of Abu Dhabi’s Sovereign Wealth Funds (SWFs) and ADGM’s increasing recognition as a climate finance hub.
At the opening ceremony investor Ray Dalio gave a keynote speech which explored the complexities of the Changing World Order, drawing insights from his recent book.
ADFW’s opening ceremony also celebrated its partnership with the Abu Dhabi Department of Economic Development (ADDED), the headline partner for the event.
In his address at the opening ceremony of ADFW, His Excellency Ahmed Jasim Al Zaabi, Member of Abu Dhabi’s Executive Council and Chairman of ADDED and ADGM said: “Abu Dhabi Finance Week is a testament to our commitment to positioning Abu Dhabi as a global financial hub. The opening ceremony was a remarkable start to a week that promises to be filled with insightful discussions and meaningful partnerships. The Abu Dhabi Economic Forum, in particular, symbolises our dedication to fostering economic growth and innovation, in alignment with the changing world order and the rising Falcon Economy of Abu Dhabi and the UAE.”
Taking place for the first time at ADFW, the Abu Dhabi Economic Forum, was conducted in partnership with ADQ.
The event engaged in comprehensive discussions surrounding Abu Dhabi’s evolving economy within the changing global context.
Key themes included the rise of the regional Falcon Economy, macroeconomic considerations, and Abu Dhabi’s role as the ‘Capital of Capital.’
The event also witnessed the participation of CEOs of Sovereign Wealth Funds such as ADQ and Mubadala and Ministers of Economy and Climate.
These discussions provided an international perspective on strategies to foster regional monetary cooperation in support of the Falcon Economy, underscoring the positive outcomes that could result from such cooperation.
ADFW’s central theme, ‘Investing in the Transition Era,’ was explored in a dedicated session, which explored the economic consequences and investment opportunities in ‘The Transition Era.’
Jamie Dimon, Chairman and CEO of JP Morgan Chase & co, made an appearance at the event and praised Abu Dhabi’s economic growth planning, and also announced a major expansion of the bank’s operations in the Emirate: “The determination of the emirate that is forging ahead with its reform agendas is extremely impressive, be it their economic, financial and social agendas. These are not easy changes but there is clear progress on all fronts towards the goal to create a safe and secure society and a dynamic Falcon Economy. We’ve continued to add to the team this year and have submitted an application to upgrade our operating licence to a full category one banking entity, signalling our intent and commitment to the size of the opportunity here.”
Additionally, the UAE’s Minister of Economy, His Excellency Abdulla bin Touq Al Marri highlighted his plans for economic policies of the UAE and shared his views on the key components for future growth in a rising Falcon Economy.
ADFW’s inaugural day saw the announcement of various significant partnerships, which included the publication of a white paper jointly by Masdar and PWC on ‘Accelerating renewable energy investment in West Africa’ and the strategic partner of Abu Dhabi Economic forum, Etoro securing its Financial Services Permission from ADGM.
Alternative credit investment manager, Vibrant Capital Partners, also revealed the opening of its office within ADGM.
ADGM also made a milestone announcement, committing to extending the facilities arrangement with the World Bank’s office for an additional five years, signifying a continued collaboration on opportunities, in areas such as research, knowledge exchange, events and policymaking.