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Abu Dhabi's economic strategy to be in focus

Abu Dhabi has many advantages that can help it withstand the effects of the global slump, says Al Suwaidi. (MOHAMMED HAKEEM)

By Staff Writer

Nearly 800 delegates from the UAE and other countries will converge on Abu Dhabi early next month for the annual economic forum that will focus on the emirate's long-term economic strategy, officials said yesterday.

The Abu Dhabi Department of Planning and Economy (DPE) is organising the March 2-3 Abu Dhabi Economic Forum (ADEF), which will also cover the global financial crisis, oil and gas, and other related topics.

"The Abu Dhabi economic strategy, the solid fundamentals of the emirate's economy and its resilience will be the central themes of this year's ADEF," DPE said.

"The event will also examine critical issues such as the new shape and determinants of the world financial system, the new global environment for investment, the future of oil and the role of government in closing the financing gap resulting from the crisis."

It said the event would attract more than 800 participants from about 25 countries, including government leaders as well as leading businesses, banks, and global companies active in Abu Dhabi and the wider region.

According to DPE Chairman Nasser bin Ahmad Al Suwaidi, Abu Dhabi's economy has many advantages in helping it withstand and contain the effects of the global economic downturn while implementing the emirate's economic vision.

"This vision aims at strengthening the emirate's competitive edge and its world standing by focusing on developing the pillars of our economy namely, the infrastructure, the energy sector and basic industries, knowledge economy, education and scientific research. Undoubtedly, this year's forum provides us with an opportunity to present a comprehensive view of these efforts and objectives while also keeping our eyes on the global situation and its potential impact on the regional economy," he said.

UAE joins global group

Abu Dhabi said yesterday it had joined a global group involved in dissemination of information about companies and other organisations.

The Abu Dhabi Department of Planning and Economy (DPE) said it would represent the emirate in the Corporate Registers Forum (CFR), which was created in Auckland, New Zealand, in 2003.

Delegates from Australia, Canada, Cook Islands, Fiji, Hong Kong, India, Malaysia, Mauritius, Samoa, Singapore, Tonga, the United Kingdom and Vanuatu attended the founding meeting.

"The CRF is delighted to welcome the United Arab Emirates as its' newest member jurisdiction. The Department of Planning and Economy of Abu Dhabi joined the CRF in January. The CRF looks forward to welcoming delegates from Abu Dhabi to the forthcoming Cape Town conference and from learning of the experiences from our newest member jurisdiction," CRF said.

According to CRF, its aim is to provide delegates with the opportunity to review the latest developments in corporate business registers internationally and exchange experiences and information on the present and future operations of corporate business registration systems.

"Joining this organisation will allow Abu Dhabi to get acquainted with the best practices by other countries in commercial registration as part of the emirate's strategy to become of the best five places in the world," said Hamad Al Nuaimi, DPE's Commercial Affairs Director.