Post by : Mara Rahim
The Abu Dhabi Family Business Council (ADFBC), within the Abu Dhabi Chamber of Commerce and Industry, has formalized a cooperation agreement with the Family Business Council Gulf (FBCG), a non-profit organization committed to bolstering family businesses across the GCC. This collaboration is designed to enhance the sustainability, governance, and global competitiveness of family enterprises, establishing Abu Dhabi as a key player in private sector leadership and sustained business success.
The agreement, executed during Abu Dhabi Finance Week (ADFW), addresses several critical areas including leadership development, family governance initiatives, succession planning, and business continuity strategies. Both councils are set to conduct training workshops, forums, and benchmarking analyses to tackle the challenges family businesses face in the region and exchange best practices for effective strategic planning and growth.
Through this partnership, Abu Dhabi will introduce specialized programs for next-generation leaders, promote knowledge exchange among local and regional business communities, and host high-profile events that connect policymakers, experts, and family business champions. This initiative is in line with Abu Dhabi's economic ambitions, aimed at supporting multi-generational enterprises and enhancing their significance in the area's economic advancement.
Family enterprises play a vital role in the UAE's economy, accounting for 60% of GDP, providing jobs for 80% of the workforce, and making up about 90% of private sector firms. On a global scale, these enterprises are responsible for nearly 70% of GDP and employ over 60% of the labor force. The newly formed agreement aims to establish a reference framework for family businesses in Abu Dhabi and the UAE, fostering sustainable growth while encouraging intergenerational leadership and long-term economic resilience.
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