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Abu Dhabi Securities Exchange Partakes in Abu Dhabi Energy, Industry & Infrastructure Conference
Dec 10, 2014
Abu Dhabi Securities Exchange (ADX) Chief Executive, Mr. Rashed Al Balooshi, has participated in the 9th Annual Abu Dhabi Energy, Industry & Infrastructure Conference held in Abu Dhabi from the 7th to the 9th of December. The conference, organized by MEED Events, addressed energy development, industry, and continued infrastructure development in both private and public sectors alike. 

The Conference saw over 300 of the Emirate’s key decision makers including high level government officials, leading industry, energy & infrastructure project owners, developers and contractors in the region as well as the international business community at a unified platform to discuss Abu Dhabi’s most critical plans.  The event concentrated on high value sectors with growth opportunities, in line with Abu Dhabi Government plans.   

Mr. Al Balooshi anchored a panel which discussed “The future of funding & financing the Emirate’s projects”.  In his contribution to the debate Mr. Al Baloushi highlighted the role of financial markets to become a key financier of economic sectors and projects through developing a sufficient and resilient infrastructure capable of supporting the anticipated economic growth of the Emirate of Abu Dhabi as aligned in the 2030 vision. 

“Economic prosperity requires the presence of successful, efficient and effective institutions operating within a strong, fair and sound commercial and legal framework.  Financial markets are among the most important of these institutions, as they mobilize savings and direct them towards available investment venues and reallocate investment to most productive uses. Markets provide the necessary platform for financing projects. They investment opportunities and establish a vital link between savers on the one hand and investors on the other.” ADX Chief Executive said

ADX Chief Executive reiterated: “The institution of more long-term savings instruments and a government bond market will assist in taking the excess away from short-term uses and lock it into the economy for the long term.  It will also help more long-term savings products which will feed directly into the financial markets and provide them with more long-term stability and allow policy-makers to focus on further economic development.”

Mr. Al Balooshi pointed out that the UAE’s financial markets remain strong and have scope for further investment opportunities, supported by a strong national economy and the sustained growth of all economic sectors noting that foreign net investment in the Abu Dhabi Securities Exchange (ADX) has reached around AED 4 billion as of end of November this year compared with AED 2 billion for all of 2013, which represent a growth of 100% backed by more than 1000 foreign financial institutions registered on the exchange by December of this year in comparison to 380 institutions for all of 2013. 

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