Abu Dhabi taking steps to position itself as global investment hub Yousuf

By Sandip Kolhatkar
    Abu Dhabi, Mar 16 (PTI) Abu Dhabi, the capital city and the largest emirate of the United Arab Emirates, is expanding its doors to international investors, aimed at positioning itself as a global investment hub, according to a senior Gulf official.
    Yaser Al Yousuf, Director of Investor Relations at Abu Dhabi Investment Office (ADIO), also told PTI that the emirate was offering a business-friendly ecosystem powered by strategic partnerships, regulatory flexibility, and world-class investor support programmes.
    Al Yousuf said that Abu Dhabi plans to host an investment forum in India and establish offices to enhance its presence in the region to further strengthen engagement between the two sides.
    He said India has always been a key trade and investment partner for Abu Dhabi. “Our ties have been further reinforced post-G20 and BRICS summits. Unlike China or Japan, where cultural gaps pose challenges, India’s well-established presence in Abu Dhabi makes collaboration seamless,” he said.
    The Comprehensive Economic Partnership Agreement has significantly boosted trade between the two nations, he said.
    As a pioneer in economic diversification, Abu Dhabi has evolved into a destination for businesses looking to establish bases, scale operations, and access high-growth markets across the Middle East, Africa, Asia, and beyond, Al Yousuf said.
    With cutting-edge infrastructure, world-class research institutes, a conducive start-up ecosystem, progressive policies, and investor-centric incentives, the emirate is redefining global investment standards, he said.
    The emirate’s 'Falcon Economy' strategy presents a model of harmonising between advanced technologies, sustainability, human development, and economic growth. As part of this strategy, Abu Dhabi is driving innovation across high-potential sectors such as Artificial Intelligence, smart autonomous mobility, advanced manufacturing, financial services, biotech, energy, and food security, Al Yousuf said.
    “We are prioritizing investor needs and offering tailored incentives,” he said.
    "The emirates started as an oil-driven economy, but the leadership’s vision, starting with Sheikh Zayed bin Sultan Al Nahyan, who was UAE’s first president from 1971 until he died in 2004, focused on long-term economic growth beyond oil," he said.
    The ADIO serves as a central entity in fostering economic growth and diversification in the emirate of Abu Dhabi. It is under the Abu Dhabi Economic Development Department, and attracts foreign direct investment and supports businesses in establishing and expanding in Abu Dhabi.
    Abu Dhabi had vast oil reserves to last centuries, but the UAE founder’s foresight prompted the need to diversify, Al Yousuf said.
    The first two decades of Abu Dhabi’s economic development were dedicated to building infrastructure and strengthening core capabilities. The next two decades saw a shift towards exploring and evaluating new economic opportunities, with initiatives like Masdar City reinforcing sustainability as a foundational principle long before clean energy became a global priority, he said.
    Abu Dhabi's diversification strategy has resulted in 58 to 60 per cent growth in non-oil sectors, he said. In the 1970s, 80s and 90s, the emirate’s oil-based economy accounted for 90 per cent of its GDP. By 2040, the emirate aims to achieve 80 per cent non-oil GDP marking its transformation into a knowledge-driven, diversified economy," he said.
    The Falcon Economy, launched in the early 2020s, is designed to transition Abu Dhabi’s GDP from oil-based to non-oil-based through three key pillars of market opportunities, talent attraction, and strategic partnerships, he said.
    "When we talk about market opportunities, we mean identifying and leading new sectors. Take smart autonomous mobility, for example. By being among the first to amend policies for testing such technologies, Abu Dhabi has positioned itself as a global hub for this emerging industry," he said.
    To solidify its leadership in autonomous mobility, Abu Dhabi is collaborating with top global firms such as Joby and Archer, offering public-private partnerships, regulatory support, and testing facilities to help these companies scale their operations.
    "Geographically, Abu Dhabi is at the centre of the world, making it a prime location for top talent," Al Yousuf said. The emirate has established specialised institutions like Mohammed bin Zayed University of Artificial Intelligence and United Arab Emirates University, Advance Technology and Research Centre, ensuring a steady pipeline of skilled graduates ready to drive innovation, he said.
    In order to support talent retention, Abu Dhabi has introduced initiatives like the Golden Visa, which provides long-term residency for investors, entrepreneurs, and highly skilled professionals. The Investor Care Programme of ADIO assists investors and their employees in relocating, from finding schools and properties to securing office spaces, he said.
    Abu Dhabi’s investor support framework extends beyond infrastructure and partnerships, Al Yousuf said. Financial incentives like rebates on land, electricity, and water usage make setting up operations in the emirate highly attractive, he added.
    Businesses also benefit from duty exemptions on imported materials during the setup phase and priority status for products manufactured in the UAE, he said.
    The emirate’s regulatory landscape is also highly adaptive, he said. "Policies like the Golden Visa, introduced in 2020-2021, underwent a thorough review after a year, leading to 70 modifications to make the process more investor-friendly," Al Yousuf said.
    The Golden Visa system in Abu Dhabi enables skilled professionals to obtain residency for 10 years.
    Al Yousuf said Abu Dhabi is not just welcoming investors but also building a comprehensive ecosystem for success. With a strategic sectoral focus, global partnerships, world-class infrastructure, and talent-driven innovation, the emirate is shifting the conversation from “Why Abu Dhabi” to “Why not Abu Dhabi,” he said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)