Post by : Maya Rahman

The Abu Dhabi Family Business Council (ADFBC), which operates under the Abu Dhabi Chamber of Commerce and Industry, has established a partnership with the Family Business Council Gulf (FBCG), a non-profit organization that aids family businesses throughout the GCC. This collaboration is set to boost the sustainability, governance, and international competitiveness of family-owned businesses, positioning Abu Dhabi as a leading center for private sector innovation and enduring commercial success.

The agreement, which was formalized during the Abu Dhabi Finance Week (ADFW), focuses on pivotal areas such as leadership enhancement, family governance initiatives, succession planning, and ensuring business resilience. The two councils will facilitate workshops, forums, and benchmarking studies aimed at tackling the prevalent challenges faced by family enterprises in the region while exchanging best practices for strategic advancement and development.

As part of this collaboration, Abu Dhabi will introduce specialized programs tailored for future leaders, promote knowledge exchange among both local and regional business sectors, and host high-profile gatherings connecting policymakers, experts, and family business stakeholders. This initiative is aligned with Abu Dhabi’s economic vision, nurturing multi-generational businesses and reinforcing their importance in the region’s economic landscape.

Family-owned enterprises play a vital role in the UAE economy, accounting for 60% of the GDP, employing 80% of the nation’s workforce, and constituting approximately 90% of private sector businesses. On a global scale, such enterprises contribute nearly 70% to GDP and generate over 60% of employment. This new partnership is anticipated to establish a robust framework for family enterprises in Abu Dhabi and the UAE, facilitating sustainable growth while promoting intergenerational leadership and economic stability.

#Business News #Abu Dhabi News #UAE News #Economic News