Emirates Development Bank, Abu Dhabi Investment Office to collaborate on boosting FDI, promoting business

Emirates Development Bank, Abu Dhabi Investment Office to collaborate on boosting FDI, promoting business

ABU DHABI, 20th October, 2021 (WAM) -- Emirates Development Bank (EDB) and the Abu Dhabi Investment Office (ADIO) have announced the signing of a Memorandum of Understanding (MoU) to collaborate on promoting business setup and foreign direct investments into Abu Dhabi.

The MoU between EDB and ADIO aims to help private sector companies establish and grow in the Emirate of Abu Dhabi, while playing a key role in the overall economic growth of the Emirate.

EDB and ADIO will explore areas of collaboration to effectively support investments into Abu Dhabi from SMEs, startups, and large enterprises; facilitate ease of doing business in Abu Dhabi; provide supply chain financing to Abu Dhabi-based companies; and assist with the scale-up of operations of Abu Dhabi-based companies.

Ahmed Mohamed Al Naqbi, CEO of EDB, said, "EDB is pleased to be partnering with ADIO to enable growth and economic diversification in Abu Dhabi and the UAE, which is in line with our future focused strategy. We believe these efforts will create new opportunities, boost collaboration, expand the value chains for UAE-based entities, and contribute to the country’s economic growth and productivity surge. EDB can act as a catalyst for attracting foreign direct investments into Abu Dhabi