As part of its ongoing efforts to strengthen its position as a preferred destination for foreign investments across the region, Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, participated in the HSBC MENAT Securities Forum 2019, organized by HSBC at the Address Hotel on February 27 and 28.
On the side-lines of the forum, ADX’s delegation met with representatives of leading international financial institutions and banks looking to know more about ADX’s services and the opportunities offered by its listed companies with the view to building corporate partnerships that are in line with Abu Dhabi Economic Vision 2030, the Emirate’s integrated development plan.
Net foreign investment on the Exchange increased by 10.5% year-on-year to nearly AED 2 billion in 2018. Meanwhile, net institutional investment rose by more than 8% from the previous year to around AED 2 billion in 2018. In addition, the number of institutional investors registered on the Exchange by the end of 2018 was 8,208, of which 6,170, or approximately 75% of the Exchange are foreign institutions.
H.E. Khalifa Al Mansouri, ADX’s Acting Chief Executive, noted that ADX is committed to promoting the advantages that Abu Dhabi enjoys, including a stable investment environment, transparent business practices, and the various investment opportunities that the Exchange offers to financial institutions seeking safe and profitable investments.
H.E. added: “ADX is continuously implementing the Abu Dhabi plan to develop the financial services sector in the emirate by attracting new foreign investors looking for an open trading environment, innovative, diversified, and comprehensive financial products that meet disclosure, transparency and corporate governance requirements.”
During the meetings, representatives of international financial institutions exchanged views on various issues related to foreign investment in the region and the UAE in particular. The delegation presented a review on progress made in the country’s business environment, both in terms of updating the legislative and legal system to meet the needs and aspirations of investors by creating a fairer and secure trading environment, and ensuring that ADX’s financial services and products suit institutional investor strategies.
The HSBC MENAT Securities Forum 2019 also discussed a range of key issues related to the region’s financial services, including macroeconomics, the future of custodianship, and other components of financial market infrastructure in light of rapid economic changes. The forum also discussed how regulators can drive regional growth, innovation, and the constraints for investors wishing to invest in regional markets.