Abu Dhabi Finance Week serves as a platform to attract new investment

His Highness Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has witnessed the opening of the third Abu Dhabi Finance Week (ADFW).

The event, hosted by Abu Dhabi Global Market (ADGM) in collaboration with ADQ, runs until 12th December 2024.

Sheikh Khaled emphasised that Abu Dhabi Finance Week further strengthens the UAE’s and Abu Dhabi’s role as leading hubs for finance and financial investment and highlighted the event’s importance in showcasing the UAE’s business-friendly investment environment, built on knowledge, innovation, and the adoption of cutting-edge technology.

He reaffirmed that the event serves as a platform to attract new investment opportunities, further enhancing Abu Dhabi’s position in the regional and global financial landscape.

Sheikh Khaled also highlighted the pivotal role of Abu Dhabi Finance Week in fostering collaboration across key economic sectors, emphasising how the event serves as a global platform that brings together experts from the financial, business, and investment sectors to exchange insights, share expertise, and showcase the latest innovations and technological advancements in these vital fields.

During the visit, Sheikh Khaled met entrepreneurs from the global financial sector and was briefed on key industry developments, including emerging trends, promising investment opportunities, and advanced technologies shaping the financial landscape at the local, regional, and global levels.
The event commenced with a special address by Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development and Chairman of ADGM, who highlighted Abu Dhabi’s growth, stability and unique opportunities, backed by a promising and prosperous future.

Al Zaabi said, “In a world seeking stability and growth, Abu Dhabi’s Falcon Economy stands as an unwavering partner for businesses, investors, innovators, and visionaries alike, welcoming them to the Capital of Capital. Here, every investment and every relationship is supported by our commitment to build a future defined by trust, resilience and boundless opportunity.

“As our jurisdiction expands and achieves new milestones, our community grows simultaneously. Through international platforms like Abu Dhabi Finance Week, we invite the world to join us in shaping conversations that will outline the legacy of progress that transcends borders and generations.”

The opening ceremony also featured a video on the event’s main theme, “Welcome to the Capital of Capital”, showcasing the exponential growth Abu Dhabi has achieved across various sectors.

The third Abu Dhabi Finance Week brings together global financial leaders, decision-makers, corporate and financial institution heads, economists, investors, and business leaders from over 100 countries to participate in more than 50 key sessions and activities, showcasing the latest trends and opportunities in the financial sector.

Witnessing partnership deal: His Highness Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and His Royal Highness Prince Salman Bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain, have witnessed the signing of a strategic partnership agreement between CYVN Holdings (CYVN), an advanced mobility operator and investment vehicle based in Abu Dhabi, and Bahrain Mumtalakat Holding Company BSC(c) (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain.

Under this agreement, CYVN will acquire McLaren’s automotive business and a non-controlling stake in McLaren’s racing business. Completion of the transaction remains subject to customary closing conditions and obtaining regulatory approvals.

The acquisition follows an announcement of a potential partnership between Mumtalakat and CYVN Holdings in October of this year.

Through this acquisition, CYVN is set to empower McLaren to reach its full potential via access to engineering and design capabilities, leading-edge technology, and experienced leadership to propel McLaren’s trajectory.

Commenting on the announcement, Jassem Mohammed Bu Ataba Al Zaabi, Chairman of CYVN Holdings, said, “This acquisition marks a defining moment in CYVN’s vision to build a leading, globally connected mobility platformand underscores Abu Dhabi’s growing role as a global centre of excellence for innovation in advanced mobility. By combining McLaren’s iconic heritage and expertise with CYVN’s advanced engineering and technology capabilities, we aim to redefine high-performance mobility and set a new benchmark for excellence.”

Shaikh Salman Bin Khalifa Al Khalifa, Bahraini Minister of Finance and National Economy and Chairman of the Board of Directors of Mumtalakat, stated, “This agreement marks a pivotal moment in Mumtalakat’s strategic vision for the transformation of McLaren Group, which has included its recent reorganization that opened doors for new strategic avenues and partnership opportunities.

We are confident in CYVN’s ability to build on McLaren’s strong legacy and unlock its full potential with Mumtalakat continuing to play a strategic role in McLaren having the ability to benefit from future growth. With CYVN’s advanced engineering capabilities and forward-looking vision, we believe they are the perfect partner to drive the next phase of McLaren’s growth and evolution.”

As part of its broader vision, CYVN is focused on creating a smart mobility platform by partnering with global industry leaders to deploy capital, engineering and design excellence, leading-edge technology, and experienced leadership in advanced mobility.

The transaction also aligns with Mumtalakat’s strategy and ongoing efforts to optimize and enhance its portfolio, ensuring sustainable long-term financial returns.

WAM