- The Council offers comprehensive support to family businesses in Abu Dhabi, driving growth, prosperity, and sustainability.
- This initiative aims to provide interactive platforms and consulting services to help companies overcome challenges.
- The initiative encourages family businesses to build robust trade relationships at local, regional and international levels.
- The Council will serve as coordination hub for businesses to develop policies and regulations that foster their growth and sustainability.
5 December 2024, Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the launch of the Abu Dhabi Family Businesses Council (ADFBC), a strategic initiative aimed at enhancing the services provided by the Chamber to private sector companies and enterprises. The Council aims to become the primary platform and destination for family businesses in Abu Dhabi. The announcement was made during the Family Business Forum, held as part of the inaugural Abu Dhabi Business Week, organised by ADCCI in collaboration with the Abu Dhabi Department of Economic Development (ADDED) and Abu Dhabi Investment Office (ADIO), held from 4–6 December 2024 at the ADNEC, Abu Dhabi.
The Council is designed to promote sustainability, growth, and prosperity of family businesses, ensuring their continuity across generations.
This initiative comes in line with the Chamber’s commitment to support Abu Dhabi’s ‘Falcon Economy’ which accelerating the transition to a sustainable and thriving economy, as family businesses form a key component of the Emirate’s economic ecosystem. Additionally, the economic model of the Council is designed to focus on diversifying the Emirate’s economy, while fostering productive partnerships between the government and the private sector.
The Council will initially be chaired by members of ADCCI’s Board of Directors who represent family businesses, including:
- His Excellency Dr. Ali Bin Harmal Al Dhaheri, First Vice Chairman of ADCCI.
- His Excellency Shamis Ali Khalfan Al Dhaheri, Second Vice Chairman of ADCCI.
- His Excellency Masaood Rahma Al Masaood Al Muhairbi, Treasurer of ADCCI.
- His Excellency Khaled AlFahim, Chairman of the Audit and Compliance Committee and Board Member of ADCCI.
- His Excellency Hareb Mubarak Al Mheiri, Executive Director of The Investor Growth Sector, Abu Dhabi Investment Office (ADIO), as an external member.
His Excellency Shamis Ali Khalfan Al Dhaheri, Second Vice Chairman of ADCCI, said: “The launch of this initiative reflects the Chamber’s commitment to advancing family businesses in Abu Dhabi and enhancing their capabilities across vital sectors as family businesses are playing a pivotal role in developing our economy. This initiative aligns with the Emirate’s vision to strengthen the private sector ecosystem, enhance the investment climate, and foster sustainability and innovation. It also reflects ADCCI’s dedication to creating a competitive and attractive business environment for investments while helping family businesses expand their reach in local and global markets”.
“The Family Businesses Council will empower these companies to seize investment opportunities, locally, regionally and globally. It will also guide and support in strategic planning and governance of family businesses, thereby enhancing their competitiveness. It is a testament to our commitment to ensuring the continuity of these businesses across generations, contributing to the aspirations of the ‘Falcon Economy’ by diversifying the economy, strengthening non-oil sectors, and building a knowledge-based and innovation-driven economy,” Al Dhaheri added.
Objectives and Activities
Family Businesses, accounting for 90% of the local private sector, are contributing positively to the growth of non-oil sectors.
The ADFBC is dedicated to offering comprehensive support to family-owned businesses operating in Abu Dhabi, particularly by contributing to policymaking based on evidence and data as well as advocating for regulations that promote their prosperity and sustainability. Among the Council’s activities is providing businesses with access to training programmes and workshops on governance, succession planning and entrepreneurship. It will also establish an interactive platform for family business owners to connect with peers across various industries. Advisory services will be offered to help these businesses address modern challenges, ensuring their resilience and growth in a dynamic economic landscape. Additionally, ADFBC will release economic reports and studies aimed to raise awareness about the crucial economic role of family businesses in the UAE.
