TOKYO, 15th March, 2023 (WAM) — Abdulla Abdul Aziz Al Shamsi, Acting Director-General of the Abu Dhabi Investment Office (ADIO), stressed that the office has been expanding abroad for the past two years, and during this period, ADIO has successfully opened eight representative offices in several global economic capitals.
In his statement to the Emirates News Agency (WAM), Al Shamsi said that the goal of the ADIO Innovation Programme, launched in 2020, is to attract more companies specialising in innovation and technology, to drive the economic diversification efforts of Abu Dhabi.
The programme has achieved positive results, including attracting 49 companies, while the total incentives provided to them have so far amounted to AED1.3 billion, he added.
The companies mentioned above are benefitting from ADIO, which has a budget of AED2 billion, in several sectors with high growth rates, including information and communication technology, agricultural technology, health services, biopharmaceuticals and financial services, he further added.
Al Shamsi then pointed out that the programme aims to support Abu Dhabi’s economic diversification by establishing an advanced innovation system.
Abu Dhabi has become a key hub for the companies aiming to enhance their presence in the region, highlighted by the growing number of companies that have joined the innovation programme.
The support provided by ADIO has attracted many companies that chose the emirate, given the wide variety of opportunities it provides and the ease of starting business there.