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ADFD and ADEX officials while visiting the G42 in Abu Dhabi.
To strengthen the UAE’s position as a global hub for advanced technology, a delegation from the Abu Dhabi Foundation for Development (ADFD) and the Abu Dhabi Export Office (ADEX) recently visited Abu Dhabi-based Artificial Intelligence (AI) and Cloud Computing Technology Holdings Company, G42.
The delegation discussed joint strategic cooperation and explored how to strengthen the fund’s role in enabling national industries to broaden their horizons in the global market and gain global competitiveness.
Mohammed Saif Al Suwaidi, Director General of ADFD and Chairman of ADEX Export Executive Committee, led the delegation, which included Rashid Al Kaabi, Director of Investment, ADFD; and Khalil Al Mansouri, Acting Director General of ADEX. The ADFD-ADEX delegation was received by Peng Xiao, CEO of G42 Group, Talal Al Kaissi, CEO of G42 Cloud, and Thomas Pramotedham, CEO of Presight AI.
Al Suwaidi praised the pioneering role played by the G42 in the field of advanced technologies, emphasizing the importance of the country’s private sector in supporting the UAE’s economic development process. The visit aims to strengthen the cooperation between the two parties and strengthen the country’s position as a global technology hub by using ADFD’s products to support UAE companies operating in the field of AI and expand their presence in the global market.
Xiao emphasized the importance of ADFD and ADEX delegations coming to the company. The conference is an opportunity for the G42 to introduce its various businesses to delegates and showcase its expertise in driving digital transformation locally and internationally, further cementing the UAE’s position as a global innovation hub.
Al Kaissi said: “We are very grateful for the visits of ADFD and ADEX who have been strongly supportive of encouraging UAE companies such as the G42 to go abroad and de-risk many of the factors associated with international expansion. This in turn has enabled us to Technology and digital transformation export our products to different markets.
Furthermore, their support provides us with a unique opportunity to take advantage of the financing options offered by the Fund, enabling UAE companies to enhance their global position and competitiveness. “
In February 2023, ADEX, the export finance arm of ADFD, signed a financing agreement with the Angolan government for the Digital Angola 2024 National Transformation Program worth AED 330 million. The deal includes the provision of a digital platform, as well as a big data analytics solution provided by Presight.ai and powered by G42 Cloud.
Meanwhile, a delegation from the Abu Dhabi Foundation for Development (ADFD) and the Abu Dhabi Export Office (ADEX) visited Mark Cables’ headquarters as part of a series of site visits to the country’s national institutions. The purpose of the visit is to expand strategic cooperation with Emirati companies operating in important sectors in line with the national strategy to support exports.
The delegation was led by Mohammad Saif Al Suwadi, Director General of Abu Dhabi Development Fund and Chairman of the Executive Committee of Abu Dhabi Export Office. These include Rashid Al Kaabi, director of the Fund’s Investment Department; and Khalil Al Mansoori, acting director of the Abu Dhabi Export Office.
The two sides discussed the importance of a unified effort, examined opportunities to enhance access to global markets for domestic goods and products, and examined the financing advantages offered by ADFD. The goal is to increase the competitiveness of UAE companies abroad.
During the visit, the delegation heard about Mark Cables’ advanced capabilities in manufacturing cables, sustainable power adapters and environmentally friendly lighting fixtures. The company appreciated the role played by ADFD and ADEX in providing credit facilities to expand its export business.
The Abu Dhabi Fund is committed to contributing to the development of the national economy in line with the UAE government’s economic diversification policy. It provides for strengthening the capacity of the country’s private sector, providing competitive financing to UAE exporters and supporting their products to reach countries around the world through ADEX.
The Abu Dhabi Export Office (ADEX), the export finance arm of the Abu Dhabi Fund for Development (ADFD), participated in the TXF Mena for the second year in a row, affirming its commitment to explore all feasible ways to strengthen and expand the UAE’s export capabilities.
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