UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC) Dr. Sultan Ahmed Al Jaber has discussed regional and global investment dynamics alongside the world’s leading global infrastructure and institutional investors during a panel session as part of the virtual series of the World Government Summit.
Speaking during Thursday’s session titled ‘Regional and Global Investment Dynamics in the New Normal,’ Al Jaber explained how despite the impact of the COVID-19 disease on global economies, UAE’s trusted business environment continues to attract world-class investment opportunities, following ADNOC’s announcement this week of the world’s largest energy infrastructure transaction valued at $20.7 billion.
Commenting alongside Laurence D. Fink, Chairman and CEO of BlackRock; Bruce Flatt, CEO of Brookfield Asset Management; Francesca McDonagh, Group CEO of Bank of Ireland; and Adebayo Ogunlesi, Chairman and Managing Partner of Global Infrastructure Partners (GIP); Al Jaber highlighted UAE and ADNOC’s strong track record of attracting strategic foreign direct investment (FDI) and stressed that the UAE offers great potential for additional investment opportunities across multiple sectors.
"The UAE has created a safe, reliable, and stable business environment that is underpinned by a robust regulatory framework unique partnership model. The $20 billion deal we announced this week highlights the world-class nature of the UAE’s energy assets and infrastructure base, and their low-risk and stable income-generating profile. Getting a transaction of this size and complexity over the line, in a tough economic climate demonstrates the continued confidence of the global investment community in the UAE as a highly trusted, go-to investment destination," Emirates News Agency (WAM) quoted him as saying.
Al Jaber emphasized ADNOC continues to create attractive investment opportunities and is open to new partnerships that make economic sense.
"We are investing $45 billion, together with partners, to create in the city of Ruwais one of the largest refining and petrochemical complexes in the world," he was quoted as saying.
Outside of ADNOC, there are great opportunities for international investors across multiple sectors of the UAE’s economy, Al Jaber noted, citing several examples.
Commenting on the attraction of the UAE as an investment destination, Flatt said: "We are thrilled to increase our investment in the UAE and expand into the infrastructure sector in the country.”
“We first established on the ground operations in the UAE over 15 years ago. This has enabled us to gain an understanding of the local business, regulatory, and broader cultural landscape. Our approach is to choose countries selectively, stay forever, and grow incrementally,” he added.
Al Jaber also shared insights on how the UAE continues to ensure the health and safety of everyone living in the country as it reopens the economy.
The World Government Summit is a global platform dedicated to shaping the future of governments worldwide, WAM said.
The summit’s virtual series on "COVID-19 & Government" is bringing together experts, government officials, thought leaders, and decision-makers to participate in a series of online sessions to discuss the disruptions in government and processes due to COVID-19, it added.
