A Special Address from the Chairman of The Abu Dhabi Department of Economic Development & ADGM

[Music] Hest your excellencies distinguished guests I humbly stand before you at the opening of yet another momentous Abu Dhabi Finance week I'd like to begin by sharing a thought that has always resonated with me money talks wealth Whispers And power is silent in a world where actions speak louder than words we in budabi have understood the value of diligent work sound economic policies and the power and importance of economic power that resonated Beyond borders as we reflect on our economic Journey it is important to recognize the strive we've made in diversifying our economy this year our non- oil sector showed a robust increase growing by an impressive 12% in the second quarter non oil sectors now comprise nearly 54% of our total GDP additionally our non-oil merchandise trade has expanded by 133% by the end of the third quarter of this year such figures stand as a testament to our nation's Dynamic economic growth and diversified strength the financial sector a Cornerstone of our economy diversification has surged by a remarkable 30% and expected to continue its upward trajectory with a growth of 133% in the coming year beyond the numbers our leadership has has shown us the path to not just accumulating wealth but utilizing it responsibly for the betterment of our nation and the world in this context I'm reminded of a profound quote by our Founding Father the z b Sultan Alan may his soul rest in peace he said wealth is not in money wealth lies in man kind this is where true power lies the power we value these words encapsulate the essence of our commitment to sustainable development the preservation of our culture and the advancement of our society it is a testament to our leadership enduring vision and Legacy let us be clear the past few years have not been easy economic winds have shifted and the Sands beneath us have been unsteady but like the dunes of our magnificent desert we too adapt and reshape ourselves we have not just endured we have thrived and that my friends is not a coincidence it's a result of our Collective vision and resilient Spirit we are delivering our promise today bhabi's Falcon economy is accelerating our Ambitions by exploring untapped potential soaring to new heights of success our vision extends to the next phase of economic diversification and remarkable growth so what is our way forward firstly we must focus on what makes us unique the world needs Babi synonymous with Innovation by but grounded with in cultural richness our emphasis on renewable energy is not just a market strategy it's a testment to our love for this land and our commitment to safeguard it for generations to come secondly let us continue to nurture the the spirit of Entrepreneurship I'm reminded of a pear diver descending into the depth with nothing but a lung full of air and a dream of treasure the risks are great but so are the rewards we must Foster an ecosystem where young entrepreneurs can dive deep and emerge with pills of innovation lastly inclusion our vision for bhabi's economy is incomplete without the contribution from every one of you regardless whether you're from the east or the West whether you work in finance or in technology you have a rool in shaping this Emirates Destiny as we leave here tonight let's look forward to the stories the insights and the inspiration will gather let the spirit of this week light up the path of our Collective Journey our way forward may not be without challenges but as we've proven time and time again this is Babi we don't just survive we Thrive we merge stronger together ladies and gentlemen welcome to ababi Welcome to the capital of capital welcome to the Falcons [Applause] playground