Abu Dhabi Has Become A Stronger Brand, Especially In Financial World, Says UAE Minister

(MENAFN- Khaleej Times)

Abu Dhabi has become a much stronger brand, especially in finance, a senior official said on Monday.

“Most people today, versus 10 years ago, know Abu Dhabi a lot more than they used to. Abu Dhabi, especially in the financial world, has become a stronger brand,” said Mohamed Hassan Alsuwaidi, the UAE's minister for investment and managing director and group CEO of ADQ, an Abu Dhabi-based sovereign wealth fund.

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Abu Dhabi has emerged as“capital of the capital”, surpassing Oslo as the world's wealthiest city, with $1.7 trillion in assets under management by its sovereign wealth funds, such as Adia, Mubadala, ADQ, and others.

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ADQ is a sovereign fund established in 2018 with the primary objective of building critical infrastructure and investing in supply chains. It has assets across various sectors, including aviation, utilities, healthcare, food security, and pharmaceuticals.

During an interview with David Rubenstein, co-founder and co-chairman of Carly at Abu Dhabi Finance Week on Monday, he said when foreigners come to Abu Dhabi, they're drawn by the growth and progress, and“didn't expect to see the shiny buildings.”

'I've seen the future of capitalism, and its name is Abu Dhabi'

Alsuwaidi stressed that Abu Dhabi attracts foreign investment because of its high-quality infrastructure and quality of life, and because it has the most progressive economy and society in the Middle East.

He pointed out that each emirate in the UAE offers equal investment opportunities.

At the conclusion of the fireside chat, Mohamed Hassan Alsuwaidi, the UAE's Minister of Economy, asked Rubenstein how he sees the UAE's transformation.

“About 30 years ago, a very famous music critic was watching somebody perform music, and he said, I've just seen the future of music, and its name is Bruce Springsteen. Today, I've seen the future of capitalism, and its name is Abu Dhabi,” he said, as hundreds of attendees clapped at his remark.

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