Abu Dhabi’s successful efforts to put small and medium-sized enterprises (SMEs) at the heart of new economic growth will be explored in a forthcoming report by the global research and advisory company Oxford Business Group (OBG).
The Report: Abu Dhabi 2023 will chart the emirate’s swift recovery from the Covid-19 pandemic, which has been galvanised by reforms introduced to enhance the investment climate and facilitate processes for start-ups, especially smaller-sized businesses.
In its analysis, OBG will shine a spotlight on the initiatives rolled out during the health crisis aimed at supporting SMEs, which include the National SME Programme, Operation 300bn and the Khalifa Fund.
It will also track Abu Dhabi’s broader efforts to diversify the economy, in line with the emirate’s Economic Vision 2030 targets, providing in-depth coverage of the sectors identified as ripe for investment, which include manufacturing, tourism, logistics and agri-tech.
OBG will also consider the implications of the federal budget, providing details of Abu Dhabi’s public spending priorities for the next three years and the stimulus measures introduced to spur economic activity.
The longer-term investment opportunities that the UAE’s Net Zero 2050 Strategic Initiative offers across the clean and renewable energy segments will be another focus.
To support its analysis, OBG has signed a Memorandum of Understanding (MoU) with the Abu Dhabi Chamber. Under the agreement, the Chamber will contribute to The Report: Abu Dhabi 2023 and other content for the Group’s suite of research tools.
The MoU was signed by Mohamed Helal Al Mheiri, Director General of the Abu Dhabi Chamber, and Gita Evele, OBG’s Country Director in Abu Dhabi.
Commenting after the signing, Al Mheiri said he looked forward to collaborating with OBG on its 2023 report, adding that investor interest was rapidly gathering momentum across a diverse range of sectors, supported by private sector competitiveness.
“Between 2021 and 2022, Abu Dhabi’s government simplified the processes for businesses looking to set up operations in the emirate, reducing the entry and set-up costs for startups by removing thousands of requirements. These steps are not only supporting companies in their market penetration efforts, but will also help them to mitigate future economic challenges,”
He said: “Oxford Business Group is known for its in-depth analysis of fast-growing markets and their investment opportunities. I welcome the opportunity to work with its analysts and explore how these and other wide-ranging initiatives are benefiting the private sector, especially smaller-sized enterprises.”
Evele said the Chamber’s input would undoubtedly strengthen OBG’s coverage of Abu Dhabi’s expanding private sector and the role of SMEs, in particular, in bringing Abu Dhabi’s Economic Vision 2030 goals to fruition.
“Smaller-sized businesses were instrumental in helping Abu Dhabi to achieve one of the strongest post-pandemic recoveries worldwide, in part due to prudent measures implemented during the health crisis,” she said.
“Abu Dhabi Chamber was a key player in these efforts, rolling out initiatives such as its long-term digital transformation strategy and training and advisory services that continue to help companies identify viable options for future growth, while strengthening the emirate’s overall business ecosystem and the capacity of members to operate effectively through challenging periods. I’m delighted that our researchers and, ultimately, our subscribers, will benefit from the expertise and experience of its representatives as we prepare to document the latest developments in Abu Dhabi’s economic transformation.”
The Report: Abu Dhabi 2023 will be produced with the Abu Dhabi Chamber, the UAE Banks Federation and other partners. It will contain contributions from leading personalities in the public and private sectors, including: Sheikh Mansour bin Zayed al Nahyan, UAE Vice-President and Minister of the Presidential Court; Sheikha Shamma bint Sultan bin Khalifa, President and CEO for UAE Independent Climate Change Accelerators; Awaidha Murshed Ali Al Marar, Chairman of the Abu Dhabi Department of Energy; and Salem Butti Salem Al Qubaisi, Director General, UAE Space Agency.
The Report: Abu Dhabi 2023 will mark the culmination of several months of field research by a team of analysts from Oxford Business Group. It will be a vital guide to the many facets of the emirate, including its macroeconomics, infrastructure, banking and other sectoral developments.
The report will be available online and in print. It will form part of a series of tailored studies that OBG is currently producing with its partners, alongside other highly relevant, go-to research tools, including ESG and Future Readiness reports, country-specific Growth and Recovery Outlook articles and interviews.-- TradeArabia News Service