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Abu Dhabi Global Market, ADGM, the international financial centre in Abu Dhabi, has announced that it has registered and licensed close to 160 companies from a broad range of industries and sectors in its first year of operations. In a statement released today, the ADGM said that this achievement sets another new milestone in delivering on its ambition to support Abu Dhabi’s economic plan and long-term growth.
The statement said that the varied consortium of well-established local family businesses and international companies registered with ADGM is testament to the free zone’s commitment to being an open, trusted and well-regulated financial and commercial hub, designed to serve the financial needs of Abu Dhabi and the UAE.
In line with ADGM’s strategy of fostering a broad based, thriving and sustainable business community, a large pool of companies in the non-financial category has made ADGM their home base, including law firms, professional and corporate service providers and family offices. In other key sectors, real estate, investment and holding companies seeking to be close to the region’s business and growth opportunities are also among those who have also chosen ADGM as their hub. Adding to the dynamic mix is a sizable group of retail and hospitality businesses catering to the needs of the financial free zone. Given its central location, retail businesses increasingly value Al Maryah Island as a highly attractive base and location for sustainable growth.
Dhaher bin Dhaher, Chief Executive Officer of ADGM‘s Registration Authority, said, "As a broad-based financial centre, ADGM has been focused on creating a business-friendly and sustainable eco-system where local companies and international entities can grow together. We remain relevant and responsive to the needs of our market by maintaining a dynamic platform and safeguarding the best interests of our registered companies and stakeholders."
"Through ADGM, businesses have access to and can conduct a wide range of activities to bolster their growth. We also have a supportive framework that meet the needs and requirements of family businesses by safeguarding their assets," he added.
The statement continued by saying that in some cases, ADGM is able to issue licenses to companies within 48 hours of receiving their business registration. Its fully digitised platform and robust and supportive on-boarding services ensure a hassle-free transition for companies and their employees who want to attain a licence with the ADGM.
As ADGM moves into its second year of operation, it remains committed to providing an efficient and sustainable platform for local companies to become regional and global champions. ADGM will also further its dedication to support financial institutions in establishing their operations in Abu Dhabi and fulfil their expansion ambitions in Middle East, Africa, South Asia and beyond.
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