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Apr 02, 2024
Your Excellencies, distinguished guests, ladies and gentleman, a very good evening to all of you.
First and foremost, I would like to thank the Institute of Directors, India, for extending an invitation to me for this landmark event. I am heartened to see the strong presence of senior representatives from the Indian economy at this event. This underscores underscores the potential for corporations to share best practices between the UAE and India. The long-standing ties between India and the UAE are given mutual respect and shared value. I am confident that this relationship will continue and encompass various sectors, including healthcare, education, food, transportation, and more.
To be able to support our regional and global partners, the UAE has been driving economic resilience, driving growth, and creating business opportunities. These collective efforts serve to contribute to the long-term stability and growth of the country. Based on the recent standards and board global rating, the projected UAE real GDP growth in 2024 is 5.3%, compared to 3.4% in 2023.
Under the wise leadership of our government, Abu Dhabi continues to play an instrumental role, enforcing strong bilateral ties with India to facilitate our mutual beneficiary market access, which contributes to the UAE's capital market. Abu Dhabi has risen to be one of the world's most strategic investment destinations for businesses seeking to extend their market presence and for foreign investors looking to invest and increase their investment. The unique market exposure, economic resilience, and security of Abu Dhabi and the UAE have earned them a world-class reputation.
We are a global financial and asset management institution. As a growth enabler and an open investment gateway, ADX has been working to advance Abu Dhabi's economic strategy and the state's sustainable growth in the capital market in the UAE. ADX accounted for 48% of the total capital IBO in the GCC region in 2023. ADX was ranked second globally in IBO proceeds. This result highlighted the X value and contribution, enabling issuers to achieve their fund-raising strategies and investors to manage their investment portfolios.
We are naturally excited that the Lulu Group is planning to do a listing in ADX. This is a new excitement for boards who are thinking of bringing their companies to the public market for businesses seeking great exposure to a modern investor base. For investors wanting to grow their investment basket and manage their risk, I argue that they should look at Abu Dhabi and the ADX. Our market infrastructure channels, projects, offerings, and services have been needed for risk management by businesses in the UAE, India, and beyond.
At ADX, we place great importance to connecting opportunities and driving sustainable growth. The global landscape of trade and investment will continue to undergo various transformations. However, I firmly believe that the tie between the UAE and India will grow even stronger as we share common values and goals. Once again I would like to express my appreciation to the IOD for organising this event and for providing a platform for meaningful dialogue. Thank you.
Owned by: Institute of Directors, India
Disclaimer: The opinions expressed in the articles/ stories are the personal opinions of the author. IOD/ Editor is not responsible for the accuracy, completeness, suitability, or validity of any information in those articles. The information, facts or opinions expressed in the articles/ speeches do not reflect the views of IOD/ Editor and IOD/ Editor does not assume any responsibility or liability for the same.
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Institute of Directors (IOD) is an apex national association of Corporate Directors under the India's 'Societies Registration Act XXI of 1860'. Currently it is associated with over 30,000 senior executives from Govt, PSU and Private organizations of India and abroad.
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