ADGM and ADSSSA to co-operate on development
ADGM and ADSSSA sign agreement to develop technology infrastructure for finance freezone
Abu Dhabi Global Market (ADGM) has signed an agreement with Abu Dhabi Smart Solutions & Services Authority (ADSSSA) to develop the technology infrastructure for the financial centre.
ADGM, Abu Dhabi's new international financial centre located on Al Maryah Island, will work with the ADSSSA to explore initiatives and projects to develop the freezone and contribute to the growth of Abu Dhabi's economy in general.
The MoU establishes a formal framework for ADGM and ADSSSA to work closely together to enhance the development of technology infrastructure on Al Maryah Island - fostering greater innovation and deployment of sustainable smart systems to help further enable the financial and business community in ADGM and wider Abu Dhabi. Under the terms of the agreement, both ADSSSA and ADGM will collaborate with relevant government entities and the private sector to set up technology clusters focusing on cybersecurity and business intelligence in Abu Dhabi.
The agreement was signed by HE Dr Rauda Al-Saadi, Director General of ADSSSA and Dhaher Bin Dhaher, Chief Executive Officer of the Registration Authority of ADGM, and witnessed by HE Saif Al Hajiri, Chairman of the Department of Economic Development and HE Ahmed Al Sayegh, Chairman of ADGM.
HE Dr Rauda Al-Saadi, Director General of ADSSSA, said: "We are proud to announce the signing of a strategic new MoU with Abu Dhabi Global Market, which looks towards jointly working together in the move to develop and implement key projects and initiatives that can bolster the development of Al Maryah Island and contribute to the economic growth of Abu Dhabi. The move demonstrates ADSSSA's continuing commitment to fully utilize technology and innovation as agents of growth and development--bringing us one step forward in the unified efforts to achieve the set goals and objectives of Abu Dhabi's vision."
Dhaher bin Dhaher, CEO of the Registration Authority of ADGM, said: "We are pleased to further our collaboration with ADSSSA in accelerating the development and adoption of innovation and smart systems on Al Maryah Island and across Abu Dhabi. As an international financial centre and leading FinTech hub, we are consistently enhancing our infrastructure and platform to support the growth of our business, financial and FinTech communities. I look forward to working closely with ADSSSA team to strengthen the information and communications offerings and services for our dynamic ecosystem and registered entities."