Abu Dhabi to form new board for emirate's chamber of commerce

The new board will be chaired by Emirati businessman Abdulla Al Mazroui while Ali Al Dhaheri will serve as first vice chairman and Indian businessman Yusuff Ali as second vice chairman

Sheikh Mohamed bin Zayed, Abu Dhabi Crown Prince, Deputy Supreme Commander of the Armed Forces and Chairman of the Abu Dhabi Executive Council, issued a resolution to form a new board of directors for the Abu Dhabi Chamber of Commerce and Industry.

The new board will be chaired by Abdulla Al Mazroui, an Emirati businessman and chairman of holding company Mazrui International, the Abu Dhabi Government Media Office said on Sunday.

Ali Al Dhaheri will serve as first vice chairman and Indian billionaire businessman and Lulu Group chairman Yousuf Abdul Kader (Yusuff Ali) as second vice chairman. Masood Al Mehairbi will join the board as treasurer and Saeed Al Remeithi as deputy treasurer.

The board members represent more than 15 key economic sectors, including financial services, health care, logistics, telecoms, agriculture, manufacturing and technology, with business interests in listed companies, multinational conglomerates, family businesses and start-ups.

The chamber aims to leverage the private sector by developing and organising commercial and trade activities in Abu Dhabi, increasing the competitiveness of private companies and providing them with opportunities for sustainable development in the capital.

The panel comprises 23 founders, chief executives and chairmen and chairwomen with leadership experience in 15 countries across five continents, according to the emirate's media office. About half the members represent the private sector while 57 per cent are Emiratis.

"The board members represent vital sectors in the emirate, to support and ensure the representation of companies of all sizes operating from Abu Dhabi," the media office said.

"The diversity of the board will also allow the chamber to achieve its vision of activating the private sector to play an active and effective role locally, regionally and internationally."

Other board members are Jassim Alseddiqi, Saeed Al Dhaheri, Khaled Al Fahim, Khalifa Al Ketbi, Shames Al Dhaheri, Ahmed Almehairi, Ala’a Eraiqat, Telal Al Dhiyebi, Marwa Al Mansoori, Nour Al Tamimi, Khadija Al-Amiri, Jasim Thabet, Bassam Chilmeran, Fouad Darwish, Hatem Dowidar, Khalid Anib, Yasser Zaghloul, Waseem AlHalabi, Amer Kakish, Syed Shueb, Rashed Mikati, Alan Smith, Karl Olsson and Elias Habib.

Abu Dhabi's economy is expected to grow by between 6 per cent and 8 per cent over the next two years, driven by government spending, financial services and foreign direct investment, Mohammed Al Shorafa, chairman of the emirate's Department of Economic Development, said earlier this year.

The emirate plans to focus on specific sectors in which government entities can partner with private companies "to enhance their growth and increase their contribution to the emirate’s gross domestic product”, Mr Al Shorafa said in April.

The government has launched economic stimulus packages worth several billions of dirhams to ease the burden of the Covid-19 pandemic on businesses and citizens as it presses on with its economic diversification goals.

Abu Dhabi is positioning itself as a technology centre and seeking to attract companies in sectors that are crucial to its growth such as agricultural technology, health care and renewable energy.

It is focused on projects that invest in innovative start-ups, develop strategic industries such as local manufacturing and make it easier to do business in the emirate.

Updated: July 25th 2021, 2:24 PM
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