Abu Dhabi International Market (ADGM), a world monetary centre primarily based in Abu Dhabi, welcomed a delegation from the UK authorities’s division for digital, tradition, media, and sport (DCMS).
The delegation go to’s focus was to develop each cooperation and partnership within the digital economic system house for the advantage of each economies. The occasion highlights a strengthening relationship between ADGM and the UK.
ADGM defined that leaders from the UK and the UAE have had current discussions to “evaluation mutual ties”. The discussions have regarded to strengthen collaboration between the 2 international locations.
H.E. Julia Lopez MP, Minister of State for media, information and digital infrastructure led the delegation. Lopez was joined by H.E. Patrick Moody, His Majesty’s ambassador to the UAE. H.E. Ahmed Al Zaabi, chairman of ADGM, H.E. Ahmed Al Zaabi welcomed and met the delegation alongside quite a lot of ADGM’s senior administration members.
The delegation was given a tour of the ADGM Courts in the course of the go to. The Minister was additionally given a tour of Hub71, UAE’s group of entrepreneurs, VCs and accelerators primarily based in ADGM’s ecosystem.
Hub71 connects start-ups and founders with main Abu Dhabi and international entities in the private and non-private sectors to drive financial influence and business alternatives. The Hub71 Incubator was established inside ADGM in partnership with international accelerators reminiscent of Plug and Play and Techstars.
At present, the UAE can also be the UK’s twenty fifth largest buying and selling associate. The nation has seen vital development during the last decade. The UAE has seen development from AED60billion in 2014 to AED92billion in 2020. ADGM defined that the quantity is projected to succeed in round AED125million over the following two years.
Strengthening UK partnerships
Ahmed Al Zaabi, commented on the go to. He mentioned: “Because the worldwide monetary centre primarily based within the capital of the UAE, ADGM is happy to welcome the esteemed delegation from the UK to Abu Dhabi. With the numerous development of the digital economic system previously few a long time, information and digital commerce signify a world GDP of practically 16 per cent. General, this entails a possibility roughly equal to $11trillion.
“New-age finance continues to be one of many key focus sectors for ADGM as part of its new ‘go to market’ technique and also will be a sector that may assist drive the accelerated development of our Falcon economic system. As a world monetary centre, partnerships are important to realising such international alternatives and advantages of world information flows.”
Julia Lopez additional mentioned the delegation’s goals. She commented: “Knowledge and digital applied sciences create thrilling alternatives for development and innovation around the globe. I stay up for strengthening the UK’s partnership with Abu Dhabi International Market. I additionally stay up for working collectively to advertise trusted and safe information flows sooner or later.”
