Masdar City, Abu Dhabi’s urban community and innovation hub has signed a strategic agreement with Abu Dhabi Global Market (ADGM), the agreement aims to strengthen foreign investment in Abu Dhabi and support innovation to enhance UAE’s economic competitiveness.
The agreement was signed by Ahmed Baghoum and Sayah Al Mazrouei during Abu Dhabi Sustainability Week 2023.
Both entities will exchange best practices, promote institutional integration and explore opportunities to enhance Abu Dhabi’s international position as a destination for direct foreign investment, innovation and entrepreneurship.
“This partnership demonstrates our shared interest in advancing Abu Dhabi as the preferred destination for foreign investors,” said Ahmed Baghoum.
“As an innovation hub and one of the world’s leading clean-tech clusters advancing solutions across the sustainability domain, Masdar City shares ADGM’s ambition to attract innovative businesses to Abu Dhabi that will grow regionally and internationally,” he added.
Hamad Sayah Al Mazrouei said, “We are pleased to partner with Masdar City to explore areas of collaboration, work toward developing Abu Dhabi’s overall economy, and advance it as an innovative and progressive economic center. This partnership will further build the pillars of future innovative projects through the exchange of best practices to attract foreign direct investments and the enhancement of performance and competitiveness of both free zones. Developing international standards affecting registration and regulation, including anti-money laundering and counter-terrorist financing compliance, is at the forefront of our commitment to enhancing and accelerating the growth of the business community within the emirate of Abu Dhabi.”
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