Abu Dhabi Chamber launches 3-year strategy to empower private sector

Newly transformed global arbitration centre to boost alternative dispute resolution

Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, attends the launch ceremony. - Supplied photo
Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, attends the launch ceremony. - Supplied photo

Ashwani Kumar

Published: Thu 2 Feb 2023, 7:01 PM

Abu Dhabi Chamber of Commerce and Industry has launched a three-year strategy to promote the private sector to realise its true potential and contribute to Abu Dhabi’s economy.

As per the new strategy, the Chamber will act as a policy advocator, service provider and networker for the private sector. The mission is to “empower” businesses and be the “voice” of the private sector.

Top officials noted that the aim was to make Abu Dhabi the number one choice in the region for business and talent by 2025.

Abdulla Mohamed Al Mazrui, Chairman of Abu Dhabi Chamber, noted that the 2023-25 strategy is a new approach and road map to realise the vision of the UAE’s leadership. “The Chamber’s initiative is in alignment with the Government policy and strategy. We have set our strategy in order to support the private sector and fulfil their requirements and realise their potential. This is the beginning of a new era, one with an ambitious future. The Chamber will strive to make its strategy a success with active participation of private and public sectors,” Al Mazrui told Khaleej Times.

Global arbitration centre

Abdulla Mohamed Al Mazrui, Chairman of Abu Dhabi Chamber, speaks during the launch event. - Supplied photo
Abdulla Mohamed Al Mazrui, Chairman of Abu Dhabi Chamber, speaks during the launch event. - Supplied photo

The chairman pointed out that the Chamber has upgraded some of its services, with the key highlight being the launch of a newly transformed global arbitration centre. “We have an arbitration centre but it is not up to the standard of the strategy of the government. So, we decided to create another centre. We have moved it to Abu Dhabi Global Market. It will have new bylaws, board of trustees and management. It will start by the end of the first quarter or beginning of the second quarter of this year.”

The new arbitration centre will bring together international best practices for the region and local businesses to take full advantage of alternative dispute resolution practices. This will further support the business environment in Abu Dhabi, making the capital a preferred hub for alternative dispute resolution in future.

Al Mazrui underlined that the Chamber would empower the private sector by facilitating trade exchange opportunities and driving the growth of the economy in the emirate. “Through advocacy, innovation, and digitisation, the Chamber contributes to making Abu Dhabi the top choice in the Mena region for business by 2025 and consolidating the Chamber’s reputation as one of the best chambers of commerce in the region and the world.”

Rashed Abdulkarim Al Blooshi, Undersecretary of Abu Dhabi Department of Economic Development, said that the Chamber seeks to have a stronger influence in the formulation of policies, and serve as a channel of communication between the private sector, the government and the concerned parties. “The launch of the new strategy is a major step for growing Abu Dhabi’s economy, especially that the Chamber works closely with the private sector and is aware of the sector’s needs and concerns. The Department of Economic Development — Abu Dhabi is committed to supporting the execution of the Abu Dhabi Chamber’s strategy during the next stage, to drive the growth of the emirate’s economy and create more opportunities for future generations.”

Six strategic objectives

Karl Magnus Olsson, one of the board members of the chamber and co-founder of Careem, said that the 2023-2025 strategy is focused on six strategic objectives.

“Being the number one advocator for the private sector’s needs and the main communication channel between the private sector and the Abu Dhabi government. Second, being the leader of the primary private sector committees in Abu Dhabi. Third, being the go-to entity for identifying relevant business partners, locally and abroad. Fourth, being the number one platform for ecosystem navigation. Fifth, being a best-in-class and fully digital service provider for Abu Dhabi businesses. Sixthly, becoming the go-to entity for private sector data and insights.”

Olsson said that the Chamber is already in execution mode and achieved 100 per cent digitalisation of its services, driving the Economic Collaboration Committee and Sectoral Working Groups, and soon will have a newly transformed Global Arbitration Centre.

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