Abu Dhabi’s economic development is a huge success story and is sustainable in the long-term said former White House policy advisor, Todd Buchholz.
Mr Buchholz was speaking alongside Rashed Al Baloushi, Acting Director General of Abu Dhabi Securities Market (ADSM), at a news conference in Abu Dhabi ahead of the ADSM Leadership Forum: Exchange Traded Funds - Challenges and Opportunities. The Forum is being held at the Emirates Palace Hotel on Wednesday 7th March.
World renowned economist, Mr Buchholz said: “There has been a huge amount of attention on other developing markets such as China and India recently, that Abu Dhabi has sometimes been overlooked”.
“Thanks to the vision of its Government and favourable business attitudes in the Emirate, Abu Dhabi is expanding just as rapidly, but with more long-term sustainability.”
Mr Buchholz went on to explain that taxation and free trade rules in Abu Dhabi are favourable to change and that unlike some developed economies, Abu Dhabi is not weighed down by the legacy of Unions and old-fashioned sentiment.
“Abu Dhabi is not afraid of change”, he said. “Instead it embraces it. “There is an environment here that is favourable to foreign investment and, alongside the investment into cultural and tourism projects, has laid the foundations for long-term sustainable economic growth.”
Mr Al Baloushi thanked Mr Buchholz for his outlook on Abu Dhabi and welcomed him to ADSM and as the keynote speaker for the Leadership Forum: “We are delighted to welcome such a highly respected economist as Todd Buchholz and are very much looking forward to hearing more from him and our other expert speakers at our Forum.
“The Leadership Forum will examine the concept of Exchange Traded Funds (ETFs) and analyse their benefits for the Middle East region.”
