Press Release       Date: 29/1/2008

Under the patronage of HH General Sheikh Mohammed Bin Zayed Al Nahyan,
Crown Prince of Abu Dhabi, Deputy Supreme Commander of UAE Armed Forces
Abu Dhabi Economic Forum to open on Feb 3rd

Heavy Participations Expected from Saudi Arabia, Kuwait,
and the United Arab Emirates

The Abu Dhabi Economic Forum will be held for the second year in a row at Emirates Palace on the 3rd and 4th of February 2008. This high profile event is attracting large participation by corporate leaders, bankers, economists and businessmen from Abu Dhabi the Gulf and globally, and will be held under the patronage of HH General Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of UAE Armed Forces.

The Forum has been prepared and is organised by the leading conferencing specialist Al-Iktissad Wal-Aamal Group in cooperation with the Department of Planning and Economy of the Abu Dhabi Government and the Abu Dhabi Chamber of Commerce and Industry. The Forum’s proceedings will for two days focus on main economic trends in Abu Dhabi and the potential impact of the government’s new policy agenda on investment flows, government spending, and business opportunities in the Emirate’s various economic sectors.

Speakers will in particular tackle the multi-billion spending program on infrastructure designed to underpin the Emirate’s emerging and fast expanding economy, and on government plans for developing industry, particularly energy and capital intensive industries. The forum will also discuss among other topics the outlook for real estate and tourism sectors and the potential impact of accelerated development and mega projects on Abu Dhabi’s vision to become a major destination for tourism, businesses and leading world class industries. Another session will address the outlook and challenges for the financial sector and the role of banks’ in supporting and servicing the economic and construction boom. The forum’s proceedings will be enriched by a select group of distinguished speakers, economists and corporate leaders. The Abu Dhabi Department of Planning and Economy as well as the Abu Dhabi Chamber of Commerce and Industry will also play a proactive part in the debate.

This year’s forum builds on the spectacular success achieved last year by the Forum’s debut with 1000 participants from 25 countries and more than 40 speakers and panellists. Commenting on the event, HE Nasser Al-Suwaidi, Chairman of Department of Planning and Economy said “this year’s conference comes at a very interesting time for Abu Dhabi, as the Emirate has now established its vision, policy options and development plans, plans that will to a large extent determine its due position and growing role within the global economy. We expect the forum to act as a very useful platform for communicating our policies and interacting with investors, corporate leaders and high-level decision makers. We believe that the Abu Dhabi Economic Forum will help to demonstrate the enormous potential and business opportunities that will be offered by Abu Dhabi’s economic strategy and initiatives”.

Salah Al-Shamsi, Chairman of the Abu Dhabi Chamber of Commerce and Industry stressed that the “Abu Dhabi Economic Forum has now become one of the most important economic and business-to-business events not only in Abu Dhabi but also in the region”. Al Shamsi added “we were keen for this major event to be held again this year as we have last year seen how instrumental it was in presenting Abu Dhabi’s vision and also providing a platform and ample opportunities for the private sector”.

Faysal Abou Zaki, Deputy General Manager of Al-Iktissad Wal-Aamal group said “we are happily gratified by the exceptional interest in the Abu Dhabi Economic Forum by investors, and business and industry leaders, who were been able to verify last year first hand the importance of this event as a platform and as a unique place for debating real issues, communicating and networking. We believe the most significant measure of success is the fact that more than 500 participants in the conference last year and this year came and will come from outside Abu Dhabi. Another relevant indicator is the fact that more than 60 per cent of this year’s participants also took part in the 2007 event as they have seemingly realised the conference’s importance to their business”. Abou Zaki concluded that ADEF is now “the largest regional and high-level business meeting that is dedicated to Abu Dhabi’s economic issues and is organised with the support and cooperation of the government and the private sectors”.

The event is sponsored by prestigious Arab institution, which include: Citigroup, Etisalat, Gulf Capital, Shuaa Capital, Global Investment House, Al Jaber, Gulf Investment Corporation, Jorinvest, Al Qudra Holding, Al Hanoo Group, Emirates Bank, properties Plus, Rotana. Media partners are CNN and Al Arabiya and Emirates Palace as host Hotel.