ABU DHABI CHAMBER OF COMMERCE AND INDUSTRY
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Promotion // Abu dhabi
ABU DHABI
Sustainable and Diversified Growth
Abu Dhabi Chamber of
Commerce and Industry
Driving a Competitive Business Environment
A
bu Dhabi enjoys a prime posi- global players today, mainly driven by
tion in the region as a lead- a competitive business environment
ing business center. Many of that attracts investment from all over
the world’s largest companies the world,” Al Muhairi says. “It is in
have flocked to the emirate, attrac- this context that the ADCCI is spear-
ted by its renowned business-friendly heading the participation of business
policies. Abu Dhabi offers many invest- enterprises in the emirate’s economic
ment opportunities while creating an growth and helping them become a
ideal commercial and legislative environ- part of the success story.”
ment for businesses to grow and evolve.
The Abu Dhabi Chamber of Com- A Critical Partner
merce and Industry (ADCCI) has been In 2011, ADCCI signed several agree-
indispensable in the UAE capital’s stra- ments and memoranda of understand-
tegic plans to position itself as the lead- ing to simplify business procedures,
ing destination for global commerce. particularly those related to new and
Through its efforts, it has attracted existing project development.
major international companies that are Mohammed Hilal Al Muhairi, Director Additionally, ADCCI oversaw the grad-
critical to executing Abu Dhabi’s Eco- General of ADCCI uation of a number of UAE nationals
nomic Vision of 2030, which aims to from the Abu Dhabi International Center
align the emirate’s economic policies Hilal Al Muhairi. “In fact, this vision per- for Organisational Excellence (ADICOE),
and plans and to fully engage the pri- fectly fits with the aspirations of the pri- a subsidiary of ADCCI. ADICOE aims
vate sector to help implement them. vate sector to play a greater role in the to strengthen both private- and public-
current economic boom. Our effort will sector organizations’ abilities to com-
A History of Growth be to continue to develop policies and pete through personal training and con-
Since its inception in 1969, ADCCI has strategies that will help ADCCI retain sulting, while contributing to the overall
achieved rapid success in promoting its standing as a key player in driving process of emiratization.
Abu Dhabi as an economic and indus- development in Abu Dhabi.” According to economic studies, Abu
trial hub. In the process, it has increased Dhabi’s GDP grew 14% from 2001 to
its membership from 84,911 in 2010 to “Abu Dhabi is fast emerging as 2009, and the emirate successfully
more than 95,000 in 2011, in addition to a regional business hub and attracted foreign investments reaching
providing myriad vital services to com- gateway for global players today, $27.2 billion from 2003 to 2010.
panies in Abu Dhabi. mainly driven by a competitive ADCCI forecasts that Abu Dhabi’s
ADCCI works with key regional part- business environment that attracts economy will grow 4.5% this year, in line
ners to boost foreign investment, and investment from all over the world.” with the emirate’s established trajec-
it promotes its services and facilities —Mohammed Hilal Al Muhairi tory—an impressive feat in light of the
by participating in business exhibitions current global financial crisis.
around the world. It also frequently ADCCI has long recognized the criti- Today ADCCI provides more than
hosts commercial delegations; it hosted cal partnership between the private management expertise and licenses.
70 in 2011 alone. and public sectors. In fact, the Abu Many of its efforts support businesses
“Last year ADCCI doubled its efforts Dhabi Economic Vision 2030 is the with information about potential invest-
to support Abu Dhabi’s economy in an result of a strong collaboration between ment opportunities while providing them
effort to achieve the vision of our wise public-sector and joint public-private with expert counseling and advice. This
leaders to position the emirate as a sector entities. role makes the Chamber essential to
leading business destination,” says “Abu Dhabi is fast emerging as a realizing the economic vision of the
Director General of ADCCI Mohammed regional business hub and gateway for emirate’s leaders.
1
PROMOTION // ABU DHABI
ETISALAT
Transforming Societies and Economies Through Telecommunications
Etisalat’s Global Footprint Etisalat headquarters
Since 1976, Etisalat has been provid-
ing telecommunications in the region.
The company knows well the capacity
of telecommunications to enable eco-
nomic development; it has provided
world-class services to customers across
the UAE, helping solidify the country’s
position as the leading trade, business,
finance and logistics hub in the Middle
East and North Africa region. In 2011, Abu
Dhabi became the first capital city in the
world to be entirely covered by a fiber-
optic network.
Etisalat is the third-largest corpora-
tion in the GCC and the largest tele-
com operator by market capitalization
Ahmad Julfar, Chief Executive Officer in the Middle East and Africa region,
of Etisalat Group with a market value in excess of $20
billion and annual revenues of approxi-
A
s the global telecommunica- mately $8 billion. Its subscriber base is
tions industry prepares to more than 130 million and growing at a
gather in Barcelona for the robust pace. In the third quarter, Etisalat
annual Mobile World Con- reported that its net profit had increased
gress 2013, which will be themed to $598.9 million, up 28% year-on-year.
“The New Mobile Horizon,” Etisalat is “These solid results reflect the invest- our diverse international operations
well prepared. Indeed, the Abu Dhabi- ment we have made both in the UAE and and bring that to bear on what we do
based telecommunications corporation in our international operations to imple- across the group, but particularly here
has long been planning for what the ment new technologies and services that in the UAE,” Julfar notes.
mobile future holds. help enhance the customer experience, Etisalat remains focused on data ser-
One of Etisalat’s forward-looking inno- and contribute to customer retention and vices, developing service levels and
vations, “Mobile Baby,” is designed to acquisition efforts,” Julfar explains. delivering a rich user experience. The
help combat maternal mortality in devel- user experience is a big part of grow-
oping countries. The program works by Geographic Diversification ing revenue, explains Julfar, “Because
putting a complete suite of services Yields Results it helps attract and retain the higher-
into the hands of midwives and birth As Etisalat diversifies its operations, value customers that are critical to rais-
attendants, enabling them to identify, revenues from its international operations ing ARPUs (average revenue per user)
communicate and act on obstetric continue to grow, reaching 30% of the and, in turn, revenues.”
emergencies quickly and accurately. group’s total revenue by the third quarter With programs like Mobile Baby forg-
Mobile Baby was lauded as the “Best of 2012. ing a path into the mobile future, there
New Product of the Year” in the health- Etisalat operates in 15 markets, is little doubt that Etisalat’s revenue
care category and as the “Corporate including the UAE, Egypt, Saudi Ara- streams will continue to flow.
Social Responsibility Program of the bia, Sudan, Pakistan, Afghanistan,
Year in the Middle East and Africa” at Sri Lanka, Ivory Coast, Benin, Togo, “As we move through 2013, we
the 2012 International Business Awards. Gabon, Niger, Central African Repub- will be looking to further tap
“This product is an example of the lic, Nigeria and Tanzania. It also has a and apply the knowledge and
transformative capacity of telecommuni- stake in Thuraya, a satellite communi- experience gained from our diverse
cations, and it reflects our broader mis- cations provider with a footprint cover- international operations and bring
sion to put telecommunications in the ing most of Europe, Africa, the Middle
that to bear on what we do across
hands of people across all our 15 markets East and Asia.
the group, but particularly here in
to accelerate social transformation and “As we move through 2013, we will
economic growth,” says Ahmad Julfar, be looking to further tap and apply the the UAE.”
Chief Executive Officer of Etisalat Group. knowledge and experience gained from —Ahmad Julfar
2
PROMOTION // ABU DHABI
YAHSAT
Abu Dhabi’s High-Speed Connection to the Future
I
t’s hard to imagine a business more The company is a place where “Emira-
representative of the 21st century tis can play an active role in the growth
than one that combines satellites, and development of the region, mak-
rockets, communication and the ing it more globally competitive,” Mr. Al
Internet. Yet that’s just what Al Yah Sat- Hosani says.
ellite Communications Company (Yah- Mr. Al Hosani is enthusiastic about
sat) does—not surprisingly, given that Yahsat’s ability to generate “high-tech
it was created as part of Abu Dhabi’s jobs for the future” for UAE nationals
2030 vision to diversify the range of in Abu Dhabi. Pointing to the satellite
industries in the emirate and expand its launches, he says, “These are phenom-
knowledge-based economy. enal achievements that are set to play a
Today the company has successfully key role in driving and inspiring innova-
designed, launched and currently oper- tion among Emirati youth.”
ates two satellites that deliver a range
of Internet and communication services Tools for the 21st Century
to individuals, companies, governments It comes as little surprise that a com-
and telecommunications providers in pany instilled with economic devel-
Africa, the Middle East, and Central and Tareq Abdul Raheem Al Hosani, CEO of Yahsat opment goals also is committed to
Southwest Asia. helping develop some of the most rural,
Yahsat’s YahClick satellite broad- building landlines in remote areas. Sig- unserved and underserved regions of
band-Internet service is just one exam- nificantly, Yahsat is able to offer these the world.
ple of the company’s innovative think- services over multipurpose, multiband “We believe that it is the right of every
ing, says CEO Tareq Abdul Raheem Al systems that mean customers benefit individual to have access to broadband
Hosani. YahClick enables subscribers from a single satellite solutions provider Internet, as accessibility and connec-
anywhere in the coverage area—even for the entire region. Also, the compa- tivity are vital to a country’s economic
those located far from any telecom ny’s business model means Yahsat is success,” Mr. Al Hosani says. “Yahsat
operator’s mobile or fixed-line net- more than just a satellite operator—it provides satellite-based solutions to
work—to connect to the Internet via a works with partners to provide a range help them overcome information and
YahClick receiver. This shows “how we of on-the-ground services. communication technology (ICT) infra-
are helping the Abu Dhabi economy structure problems and gives them
move a step closer to a high-value, High-Tech Careers the tools to enter the 21st-century
services- and export-based economy Wholly owned by the Mubadala Develop- global economy.”
by delivering YahClick to consum- ment Company—an investment arm of the Mr. Al Hosani is clearly passionate
ers, businesses, education authorities, Government of Abu Dhabi that is tasked about the transformative power of tech-
NGOs and government entities in 28 with promoting the economic develop- nology, whether in Abu Dhabi, rural cen-
countries across its coverage area," ment and diversification of the emirate— tral Africa or even within his company:
he explains. Yahsat also is focused on providing excit- “It is an economic driver for communi-
ing and challenging career opportunities ties with the potential to change lives
“We believe that it is the right for UAE nationals, who comprise more for the better, and that’s what will make
of every individual to have than half the company’s workforce. Yahsat a success story.”
access to broadband Internet,
as accessibility and connectivity
are vital to a country’s economic
success."
—Tareq Abdul Raheem Al Hosani
In addition to YahClick, Yahsat pro-
vides secure, high-integrity satellite
communication solutions to government
agencies, and can help telecom opera-
tors expand their Internet and voice
services to remote areas via its satel-
lite system—an attractive alternative to Yahsat headquarters and ground station
3
Her ti do’t pass. It fli.
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Your doctor
Mobile
that’s always
Baby
on hand
Shape your world with
tomorrow’s technology
As the leading telecommunications operator across 15 countries in the Middle
East, Asia and Africa, we proudly introduce our award winning Mobile Baby
app for prenatal and postnatal mothers. This innovative app allows mums to
easily communicate with their healthcare provider and share ultrasound stills,
3D images and videos, as well as report danger signs should complications
arise. The app was the winner of the Best Mobile Health Innovation and Best
Mobile Product for Women in emerging markets at the GSMA Awards.
etisalat.com
PROMOTION // ABU DHABI
FIRST GULF BANK
Balanced Business Strategy Delivers Stellar Performance
First Gulf Bank head office
Andre Sayegh, CEO of First Gulf Bank
E
ven as regional and global bank
lending has struggled to gain trac-
tion, loan growth at First Gulf Bank
(FGB) is at its highest level since that in 2012 saw the bank issue a cash portation, power and energy, infrastruc-
2009. In fact, FGB saw loan growth surge dividend of 100% of capital and bonus ture, tourism and industry.
6% during the first half of 2012. Nearly shares of 100%—one of the highest pay-
two-thirds of that increase came from outs the UAE has ever seen. Asia-Focused Diversification
corporate banking, including international Expanding its overseas operations is
companies operating in the UAE. These Successful Funding one of the bank’s main strategic priori-
results provide support to Abu Dhabi’s Another sign of approval from investors ties. Currently, 5% of net profits come
ongoing infrastructure development and was the success of the bank’s $500 mil- from the bank’s international operations
broader economic diversification. lion sukuk (Islamic bond) issued in Janu- in Singapore, Qatar and India.
“Financial analysts see us as one of the ary that was 2.8 times oversubscribed. Asia is a region of particular focus, says
best loan growth prospects in the UAE,” Additionally, it has recently mandated Sayegh, where FGB has “ambitious”
says Andre Sayegh, CEO of First Gulf a syndicate of eight international banks expansion plans for Singapore, driven
Bank, who attributes these results to the to arrange an $800 million unsecured by growth in its wealth management and
bank’s “particularly diverse client base.” loan to support its continuing growth. capital markets businesses. FGB also is
But FGB’s accomplishments are much Sayegh attributes the bank’s ability to looking to expand its footprint elsewhere
broader than just growing its loan book. ride through “tough times” and to “out- through alliances with regional financial
In 2011, the bank achieved record net perform its peers during good times” as institutions. In the Middle East, it has
profits that exceeded $1 billion, and the result of “a dynamic but balanced reentered Libya through a management
half-year net profit for 2012 was up a business strategy, and a conservative agreement with First Gulf Libyan Bank.
further 11%. Another important element approach to risk management that have As a leading local bank, FGB is com-
of the bank’s success is keeping costs proven to be the right one.” He also mitted to creating career opportunities
down, with the lowest cost-to-income says the UAE’s continuing stability and for local nationals, through its leadership
ratio of any bank in the UAE of 19.3%. economic strength throughout recent development program, called Nojoom,
Underlying this is a robust balance upheavals elsewhere in the region has and its mentoring program, Al Manara.
sheet that has a capital adequacy ratio of helped to attract additional business and It has also recently unveiled a dedicated
22% and a Tier 1 capital ratio of 19.5%. investment which is “definitely support- business school aimed at delivering world-
Investors have cheered on this success, ing the bank’s business moving forward.” class levels of learning for its staff.
sending the bank’s stock on the Abu Headquartered in Abu Dhabi with a With a history of achieving continu-
Dhabi Securities Exchange up more than significant shareholding by the emirate’s ous growth even in turbulent economic
20%, when including capital apprecia- ruling family, FGB has an active syndi- times, FGB offers both investors and cli-
tion and dividends. The share price also cation program supporting clients in key ents a strong partner in the months and
is supported by hefty dividend payouts sectors of the economy such as trans- years ahead.
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