The Chairman & CEO of JP Morgan Chase & Co. praised Abu Dhabi’s financial transition goals while announcing plans to expand the company’s operations in ADGM.
International financial leaders gathered to discuss the major theme of ADFW, “Investing in the Transition Period.”
ABU DHABI, UAE, Nov. 27, 2023 /PRNewswire/– In the presence of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, Abu Dhabi Finance Week (ADFW) kicked off its four-day series of over 46 sub-events with a spectacular opening ceremony held under a specially designed event dome in the South Plaza of Abu Dhabi Global Market (ADGM), following the launch of the inaugural Abu Dhabi Economic Forum (ADEF).
The first day of ADFW brought together distinguished leaders from over 100+ countries to witness a range of high-level sessions discussing Abu Dhabi’s emergence as a global economic center. These sessions included keynote speeches, panel discussions, workshops, and presentations.
One of the highlights of the opening session was an idea-provoking presentation by the renowned investor Ray Dalio, who delved into the complexities of the Changing World Order, drawing insights from his new book. The participation of prominent leaders and notable figures such as Mr. Dalio emphasized the global impact of ADFW and its goal to explore new paradigms in finance and economics.
In his address at the opening session of ADFW, His Excellency Ahmed Jasim Al Zaabi, Member of Abu Dhabi’s Executive Council and Chairman of ADDED and ADGM, welcomed the esteemed audience to Abu Dhabi, known as the “Capital of Capital” and the “Falcon’s Playground.” He shared his thoughts on the historic occasion, stating, “Abu Dhabi Finance Week is a testament to our commitment to positioning Abu Dhabi as a global economic hub. The opening ceremony marked a fantastic start to a year filled with meaningful conversations and important partnerships. The ADEF, in particular, symbolizes our dedication to fostering economic growth and development in alignment with the changing global landscape and Abu Dhabi’s rising Falcon Economy.”
The annual launch of ADEF was conducted in partnership with ADQ. The high-level event engaged in comprehensive discussions surrounding Abu Dhabi’s evolving market in the changing international context.
The event witnessed the participation of a distinguished group of leaders, including Directors of Sovereign Wealth Funds such as ADQ and Mubadala, as well as Ministers of Economy and Climate. These discussions provided an international perspective on strategies to promote local financial support for the Falcon Economy.
ADFW’s theme, “Investing in the Transition Era,” was explored in a dedicated session featuring prominent leaders from around the world. The session delved into the financial implications and investment opportunities during this transitional period.
A highlight of ADEF was the appearance of Jamie Dimon, Chairman and CEO of JP Morgan Chase & Co., who praised Abu Dhabi’s economic development initiatives while announcing a significant expansion of the company’s operations in the Emirate. He stated, “The determination of the region to progress with its transformation goals is truly impressive, whether in the economic, financial, or social domains. These changes are not trivial, but there is clear progress on all fronts toward the goal of building a safe and robust culture and a strong Falcon Economy. We have continued to invest in the region this year and have applied to upgrade our operational license to a full-fledged banking entity, demonstrating our intent and commitment to the opportunities here.”
In her keynote address at ADEF, Her Excellency Mariam Almheiri, Minister of Climate Change & Environment, Government of the UAE, highlighted the event’s significance as a leading platform for networking and problem-solving within the finance and business community in the MENA region. Her Excellency addressed the global issue of climate change, commending the UAE’s proactive approach and advocating for a pro-climate, pro-growth approach. She also emphasized the pivotal role that climate finance plays in achieving the targets of the Paris Agreement by pledging to initiate transformative change at COP28 and increase global accessibility and affordability of climate funding.
During ADEF, ADQ unveiled the SWF’s five-year development plan along with a comprehensive examination of the organization’s vision, mission, and investment strategy.
A significant announcement was made by ADGM, which extended its partnership with the World Bank’s business facility for an additional five years, pledging to continue collaborating on opportunities in areas such as research, information exchange, events, and policy.
Abu Dhabi Finance Week has officially commenced, with forthcoming events scheduled for November 28, 29, and 30, including Asset Dubai, Fintech Dhabi, and the R.A.C.E. Sustainability Summit.
Abu Dhabi Global Market (ADGM) SOURCE