How is the Abu Dhabi Investment Office supporting startups and attracting foreign businesses?

How is the Abu Dhabi Investment Office supporting startups and attracting foreign businesses?

the International Monetary Fund projected a 6.6% contraction in the UAE's growth this year.Recovery, the institute said, was not expected before 2021.Whilst oil price swings and the coronavirus pandemic have hit hard, the UAE capital Abu Dhabi says it remains committed to its economic growth & diversification plans.Moreover, last month, the agency Fitch reaffirmed the capital's 'AA' rating and outlook as "stable“.It cited, amongst other factors, Abu Dhabi's strong fiscal metrics and reduced exposure to tourism, real estate and retail, compared to neighbouring emirates.ADIO actionThe Abu Dhabi Investment Office (ADIO) is the central government hub supporting investment in the emirate of Abu Dhabi.Its vision is to develop a thriving, knowledge-economy for Abu Dhabi that is competitive and diverse, whilst attracting FDI.How? The entity cites the UAE's strategic location between East and West, its high ranking in regional reports relating to the 'Ease of Doing Business', plus its positioning on global competitiveness and innovation indexes.Dr. Tariq Bin Hendi, is an Emirati-American, London-trained economist who hopes to expand Abu Dhabi's economy as the Director-General and CEO of the Abu Dhabi Investment Office.The former Emirates NBD executive is interested in cultivating a viable ecosystem for SMEs