Thu 14-01-2021 10:37 AM
ABU DHABI, 14th January, 2021 (WAM) -- The Abu Dhabi Investment Office (ADIO) has established eight new offices in Tel Aviv, New York, San Francisco, Frankfurt, London, Paris, Beijing and Seoul, as part of a series of strategic initiatives it is undertaking to boost support for investors around the world.
The global network of offices in collaboration with the Abu Dhabi Department of Economic Development (ADDED) expands ADIO’s reach in key overseas markets where it is looking to attract innovative businesses to establish and grow in the emirate.
"Abu Dhabi is keen to continue building distinctive strategic economic relations with our international partners by promoting joint investment opportunities and supporting global innovators and companies, with the aim of pursuing technological advancements to realise sustainable economic development for the emirate," Mohammed Ali Al Shorafa, Chairman of ADDED and ADIO, said.
The representative offices will serve as "a bridge between key international markets and the exciting opportunities in some of our economy’s highest potential areas, opening up new areas for cooperation between the domestic private sector and its international counterparts," he noted.
Abu Dhabi is ranked 12th globally in the World Bank’s Ease of Doing Business Subnational Report 2020 and has cemented its position as a leading investment destination. Its enabling business environment, established infrastructure and unparalleled support help to drive significant commercial opportunities for innovative companies.
ADIO’s international offices network will focus on facilitating connections between companies in their respective markets and Abu Dhabi, introducing international investors to the advantages of expanding to the emirate.
To enable seamless support for companies across the world, the international offices will leverage local capabilities in international markets, allowing ADIO to tailor its offering to meet the needs of investors globally. International startups and businesses will find it easier than ever to access the full range of support that ADIO provides, including its investor care services and incentives.
ADIO’s international expansion complements its new AED2 billion (US$545 million) Innovation Programme, which provides financial and non-financial incentives to innovation-driven businesses in high-growth areas, by facilitating a targeted approach to support investors from around the world.
In September 2020, ADIO announced plans to establish its first international office in Tel Aviv, Israel. It has partnered with Abu Dhabi-based artificial intelligence and cloud computing company Group 42 (G42) on the Tel Aviv location. The co-located office in G42’s recently opened Israel subsidiary will enable closer collaboration between the two Abu Dhabi entities and accelerate opportunities for technology-focused Israeli companies seeking to expand to the emirate.