Crown Prince Opens Abu Dhabi Finance Week 2024

Abu Dhabi strengthens its position as a global financial powerhouse through its premier financial event. His Highness Khaled bin Mohamed bin Zayed attended the opening of the 3rd Abu Dhabi Finance Week. This event marks a vital milestone in the emirate’s experience toward financial excellence. Abu Dhabi demonstrates its steadfast dedication to enhance its economic landscape and build mutually beneficial alliances.

His Highness Khaled bin Mohamed bin Zayed led the opening ceremony that launches a week of high-level discussions, mutually beneficial alliances, and state-of-the-art financial initiatives. Global financial leaders, investors, and industry experts gather this year to explore opportunities and tackle challenges in the evolving financial sector. Abu Dhabi’s position is vital as a hub for financial innovation and sustainable economic growth in the region.

Abu Dhabi’s Vision for Global Financial Leadership

Abu Dhabi has become a major force in the global financial world under its leadership’s guidance. The emirate’s financial sector showed impressive growth as finance and insurance activities grew by 25.5%. These activities now make up 7% of the Emirate’s GDP in 2023. This strong performance highlights Abu Dhabi’s emergence as a leading financial center.

Abu Dhabi Global Market (ADGM) has been vital to this development. The financial center’s total Assets Under Management surged by 215% in Q3 2024. Several achievements mark this success:

• A 33% rise in newly issued business licenses
• Growth to 2,251 operational entities, marking a 31% increase year-on-year
• A workforce expansion of 35% with 4,433 new professionals

The emirate arranges its goals with Economic Vision 2030. This vision promotes an open, efficient, and globally connected business environment. Abu Dhabi has become the region’s leading financial hub through this approach. The emirate offers access to global markets and talent with a supportive regulatory framework.

The Capital of Capital builds its position through mutually beneficial alliances. The financial services sector concentrates on FinTech, Commodity Trading, and Asset Management. Abu Dhabi generates about 60% of the UAE’s GDP. More than 120 financial service providers call Abu Dhabi home. The emirate also hosts some of the largest sovereign wealth funds, managing assets over USD 1.5 trillion. These factors strengthen Abu Dhabi’s position as a global financial powerhouse.

ADFW 2024’s Groundbreaking Agenda

Abu Dhabi Finance Week (ADFW) 2024 will host its third edition as a groundbreaking gathering of global financial leaders. The event features over 60 main events, more than 350 thematic sessions, and brings together approximately 600 speakers. Under the theme ‘Welcome to the Capital of Capital,’ ADFW expects to welcome over 20,000 attendees who represent more than USD 30 trillion in managed assets.

Several flagship forums will return to the event’s agenda, while new additions enhance the 2024 program:

• Returning Forums: Abu Dhabi Economic Forum, Asset Abu Dhabi, RESOLVE 2024, Fintech Abu Dhabi, and Abu Dhabi Sustainable Finance Forum
• New Events: UBS Investment Forum, China UAE Investment Summit with HSBC, Islamic Finance Summit, Spear’s Private Wealth Summit, and Abu Dhabi Capital Markets Showcase

Fintech Abu Dhabi stands as the Middle East’s largest fintech festival and will highlight state-of-the-art developments in AI, digital security, and blockchain technology. Additional sessions like Blockchain Abu Dhabi, RISK 4.0 Forum, and the AI Abu Dhabi Forum will demonstrate how emerging technologies can shape the future.

Asset Abu Dhabi, collaborating with ADCB, Mubadala, and PGIM Global Asset Management, will tackle crucial topics such as “Principles of a Changing World Order” and “The Remarkable Opportunities & Challenges of AI”. The Abu Dhabi Sustainable Finance Forum (ADSFF) will conclude the week’s events with discussions about sustainable finance and impact investing, exactly one year after its COP28 edition.

Leading figures in global finance will share their insights at the event. BlackRock’s Larry Fink, UBS’s Sergio Ermotti, and Bridgewater Associates’ Ray Dalio will join other influential voices. Their presence reinforces Abu Dhabi’s position as a key financial hub, bringing together leaders who collectively manage over USD 42.5 trillion in assets.

Strategic Economic Initiatives

Abu Dhabi’s economic transformation centers on a series of groundbreaking initiatives shown during Finance Week, which spotlight the emirate’s emerging “Falcon Economy.” The event highlighted several key programs that reflect Abu Dhabi’s steadfast dedication to welcome breakthroughs and sustainable growth:

• The Financial Infrastructure Transformation Programme, comprising nine digital payment initiatives
• The establishment of a Digital Sandbox to accelerate financial services breakthroughs
• Implementation of new sustainable finance frameworks and ESG policies
• Development of a hydrogen policy framework targeting production of one million tonnes annually by 2030

The Abu Dhabi Global Market (ADGM) has enhanced its role as a climate finance hub through strategic collaborations. A milestone extension of its facilities arrangement with the World Bank will continue for five more years. This partnership advances research, knowledge exchange, and policymaking initiatives.

ADGM’s RegLab offers a controlled environment where fintech participants develop and test trailblazing solutions. The Digital Lab functions as a central hub that makes shared breakthroughs possible through its API Gateway and Digital Testing Environment.

Sustainable development remains a priority, with Abu Dhabi representing 79% of the installed solar photovoltaic capacity in the region. The emirate’s green energy goals showed through its target of achieving 8.2GW of installed clean and renewable energy capacity. These achievements position Abu Dhabi as a leader in sustainable economic growth.

Abu Dhabi Finance Week 2024 shows the emirate’s impressive rise as a global financial center. The city has reached major milestones through smart planning and reliable economic policies. The finance sector now contributes 25.5% more to GDP, while ADGM’s Assets Under Management have surged by 215%. This year’s event brings together more than 600 speakers who manage assets worth over USD 30 trillion, highlighting Abu Dhabi’s growing power in global finance.

The city leads financial innovation with groundbreaking programs like the Financial Infrastructure Transformation Programme and Digital Sandbox. These initiatives work together with sustainable development projects to push boundaries. Abu Dhabi’s steadfast dedication to clean energy shines through its dominant share of regional solar capacity and bold renewable energy goals.

The emirate’s journey to become the “Capital of Capital” goes beyond economic success. It represents a bold vision that combines sustainable practices with technology-driven financial leadership. This vision will influence global markets for decades. Abu Dhabi’s reliable infrastructure and innovative policies have made it a key player in shaping the future of global finance.