The Abu Dhabi Department of Economic Development (ADDED) and the United Arab Emirates University (UAEU) will launch the first family business index in the region.
The Abu Dhabi Family Business Index will measure and rank various metrics related to family-owned, as well as family-controlled businesses in Abu Dhabi. These include revenue, industry, employment, governance structures, leadership gender ratios, succession planning, longevity, and overall contribution to socio-economic development.
The index aims to strengthen the Emirate’s economic intelligence and research infrastructure, providing insights into economic diversification and growth. The two parties have said they have plans to expand the scope of the index to the wider region and world in the future.
Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED, said, “Equipped with decades-long experience in the market, family-owned businesses in Abu Dhabi continue to contribute positively to economic diversification, job creation, and transformation to an innovation-driven economy. We believe the index provides a suitable mechanism to accelerate our growth trajectory.
“Our collaboration with the UAE’s national university is key to ensuring that our future is driven by research, knowledge transfer, and cooperation.”
The agreement also includes cooperation in evidence-based economic and financial research, exchanging experts to foster knowledge sharing, joint research activities, training, and workshops, and sharing research publications.
In 2022, Abu Dhabi issued a family business ownership governance law to facilitate the transition to successive generations in line with best international governance practices.
