The Titan's View HSBC

[Music] B Muhammad Alan AB your highness she khid bin Muhammad bin Zed alahan Crown Prince of ababi chairman of the executive Council of the emirat of Abu Dhabi excellencies clients dear guests good afternoon it is my great privilege to address Abu Dhabi Finance week at the beginning of four days of insightful and thought-provoking discussion at this hugely important event as a native of the Middle East and having spent a large part of my life living and working in the UAE I've seen firstand how the energy and dynamism of Abu dhabi's economy has helped it to diversify and grow the description of the Falcon economy perfectly symbolizes the spirit of this great City to me empowering young people to achieve their Ambitions helping entrepreneurs to grow their businesses attracting global companies building worldclass infrastructure and creating economic stability It Is by doing all these things that Abu Dhabi has become a leading Global Hub for finance trade and investment and these are the ways that the Falcon economy is now unleashing its full potential for this a huge amount of thanks must be given to his highness she khid bin Muhammad Al nahan and his Excellency Ahmed zahabi both of whom I was very pleased to meet with them when I was last in Abu Dhabi 3 months ago they are Visionaries passionate Believers in Abu dhabi's ability to keep growing and evolving under the uae's multi-year investment strategy and the driving force behind many of Abu dhabi's economic achievements with non-oil GDP growth running near 4% and expected to grow further Abu dhabi's economy is diversifying and the city is transforming itself into an international transport innovation trade and Logistics Hub just a couple of weeks ago adnoc launched an 80 billion low carbon energy and chemicals Investment Company capitalizing on the energy transition artificial intelligence advancements and the rise of emerging economies despite all the uncertainty in the global economy from geopolitics to demographic technological and climate change the long-term prospects in this market remain very positive Abu dhabi's emergence as a leading international Financial Center is one reason why today Abu Dhabi is home to some of the world's biggest Sovereign wealth funds I witness the establishment of many of these myself which now total close to $ 1.7 trillion us they have helped transform National wealth into a generational Opportunity by providing capital for economic diversification and acting as a magnet for talent Abu dhabi's economic stability robust banking infrastructure and good investment opportunities mean that global companies and investors are increasingly looking to grow here the participation from Global Investors in key Abu Dhabi listings such as Pure Health ADN and Lulu among others is evidence to that and as a result the city has a growing financial sector with one of the biggest International Financial districts in the world in Abu Dhabi Global markets as the International Bank with the longest and richest Heritage in Abu Dhabi with roots stretching back 75 years HSBC is proud to be supporting our partners on Abu dhabi's Journey we are grateful that Abu Dhabi investment office named HSBC as its preferred International banking partner in Asia and we are here to connect Abu Dhabi with the world including through the rapidly growing UAE Asia Corridor these efforts will be helped by our own reorganization which brings our fastest growing geographies Asia and the Middle East together under joint leadership we're also here to support the listing of IPOs on the adx we're pleased to support Lulu on the uae's largest IPO so far this year and also to support must with a $750 million us green Bond listing and we're proud of the role that we play as an employer developing local talent including through the center of excellence that we will establish in employing up to 200 colleagues these are just some of the ways that we are working with many of you to support the financial and economic vision of the UAE I look forward to working with all our partners to help Abu Dhabi cement itself as the capital of capital Abu Dhabi Finance week will be another important step towards that goal and I have no doubt that the ideas discussed will contribute to the ambitious growth trajectory of Abu Dhabi and the UAE as a whole for [Music]