His Excellency Dr. Tariq Bin Hendi, Director General of the Abu Dhabi Investment Office (ADIO), stated the organization is ready to work with innovative U.S. companies looking to expand to Abu Dhabi. These comments came as His Excellency outlined ADIO’s post-Covid-19 investment programs and priorities during a U.S.-U.A.E. Business Council webinar on June 30th 2020 that was the latest in the Business Council’s ongoing videoconference series titled, “Looking Ahead: Conversations with U.S. and U.A.E. Business and Government Leaders”. A recording of the webinar can be viewed here.
His Excellency Bin Hendi began the webinar by emphasizing Abu Dhabi’s strong and multifaceted financial and economic response to the Covid-19 pandemic, noting the emirate’s support of private companies through stimulus packages and removal of fees.
His Excellency then detailed ADIO’s programs for private sector entities, including competitive cash and non-cash incentives and public-private partnerships that help domestic and foreign investors achieve long-term success in the local market.
H.E. Bin Hendi then discussed the sectors that are key to Abu Dhabi’s economic diversification plans and ADIO’s strategy and priorities such as venture funds, food security, and AgTech. His Excellency discussed ADIO’s $100 million partnership with four innovative agtech companies, and he also noted ADIO’s recent $5 million investment in the Bedaya Fund, operated by U.A.E.-based venture capital firm Shorooq Partners, to support early stage tech companies located in Abu Dhabi by increasing access to capital.
Following his remarks, His Excellency heard questions from executives of member companies in a question & answer session moderated by Mr. Danny Sebright, President of the U.S.-U.A.E. Business Council. His Excellency talked about the best ways for American companies to engage with ADIO.
In his closing remarks, His Excellency voiced optimism for the future and praised the importance of the U.S.-U.A.E. bilateral relationship during this crisis.
The video call was attended by over 300 senior executives from leading American and Emirati energy, finance, defense, healthcare, food, and technology companies as well as by U.S. and U.A.E. government officials.
Mr. Sebright concluded the call by thanking His Excellency Dr. Tariq Bin Hendi and attendees for their participation, and their shared commitment to supporting the U.S.-U.A.E. bilateral relationship.