Abu Dhabi is an investment and financial destination that has successfully established its name thanks to initiatives, economic diversification that has focused on developing all non-oil sectors, investing in the human element, and boosting the added value of oil, officials at the Bloomberg Capital Markets Forum said.
The forum, which was held in Abu Dhabi yesterday, brought together a group of leaders, decision makers and decision makers from around the world, from the international financial and business community, gathered to discuss the important role played by the Middle East in the global economy and the factors that affect the capital markets. In the region.
New partnerships
The Minister of State and CEO of Abu Dhabi National Oil Company (ADNOC) and its group of companies, Sultan Al Jaber, said: “ADNOC is consolidating its existing partnerships, building new partnerships and implementing new joint investments with its partners to find sources of additional revenue from its business. In his speech at the Bloomberg Capital Markets Forum yesterday, Al Jaber added that the company has succeeded in the implementation of several initiatives and accomplished a number of agreements that benefit from its core capabilities. Included: Strategic partnership agreement We have partnered with Baker Hughes to provide integrated drilling services, as well as to establish a global platform for refining and trading of products globally, through a strategic partnership with ENI and OMV, as well as ADNOC's acquisition of a stake in VTI, which operates petroleum product storage plants, operates in 14 countries and creates the world's largest nitrogen fertilizer export platform through a joint venture with OCI. ”
More opportunities
Al-Jaber pointed out that ADNOC is working to take advantage of the independent credit rating obtained by the company from Fitch to support the company's general budget and to provide more opportunities for international institutional investors who have the ability to contribute to Improve and increase revenue from capital invested in ADNOC's asset base. ”
He also pointed to the completion of an agreement to invest in the infrastructure of oil pipelines and distribution, with Black Rock and KKR, the Abu Dhabi Pension and Pension Fund and the sovereign wealth fund owned by the Singapore government, to invest $ 5 billion in these assets.
ADNOC is investing AED 165 billion (US $ 45 billion) with its partners to develop the largest integrated refining and petrochemical complex in one location in the world in Ruwais, Al Jaber said. Manufacturing and petrochemical derivatives, meeting the rapid increase in demand for high-value petrochemicals and refined products around the world.
the financial sector
Ahmed Ali Al Sayegh, Minister of State and Chairman of the Abu Dhabi Global Market, said: “The financial services sector contributes to facilitating liquidity, flow and investments towards all other key sectors, as the strength of the financial sector not only contributes to the development process, but also helps to distribute “In our role in the Abu Dhabi Global Market, we have transformed and led the industry through a vision and integrated business approach based on three key principles: finance, innovation and communication,” he said. ».
“The Abu Dhabi Global Market is one of the main platforms within the Belt and Road Initiative for China and the Middle East and North Africa,” he said, noting that “ADX has been able to establish partnerships with more than 100 Chinese financial institutions specializing in several areas, including financial technology. ».
Future Industries
For his part, said the founder of «Bloomberg LP» and the «Bloomberg Charity», Michael R. Bloomberg: “If Abu Dhabi is to continue to remain in the financial center of the 21st century, it must continue to diversify its economy by investing in future industries, such as clean energy,” he said. “One of the key factors people are eager to enjoy is security, safety and health. “With easy access to employment opportunities and good public transport, which in turn provides high quality of life, building a sustainable infrastructure that is expanding in Abu Dhabi will help to grow and prosper.”
Bloomberg praised the efforts of the UAE government on climate, pointing out that the «Abu Dhabi Climate Meeting» brought together global experts and decision makers in the fight against climate change.
Agreement for the training of citizens in financial markets and the circulation of goods
The Ministry of Education, Abu Dhabi National Oil Company (ADNOC) and Bloomberg LP signed yesterday a Memorandum of Understanding (MoU) to implement a program to train and develop the skills and capabilities of UAE national students under the name of ADNOC-Bloomberg Educational Initiative. It aims to provide the young generation with specialized skills and abilities.
The initiative aims to support the plans of the UAE Vision 2021 and the UAE Centennial 2071 to build and develop national cadres based on knowledge, innovation and global competitiveness by training young UAE nationals on the fundamentals of global financial markets and introducing them to the role of financial and analytical information in Global Trade and Investment Community.
Under the agreement, 10 universities from across the UAE will be selected to participate in the initiative, offering a range of intensive training programs. This includes activating customized training programs for university students, and providing support to faculty and university professors, with the aim of strengthening the curriculum with information and data on capital markets.
The initiative also aims to install 200 Bloomberg terminals at these universities. These platforms provide real-time financial data, allowing students to be trained in data analysis, news and trading tools, using the same platforms as the most influential decision-makers in the financial services and other sectors.