ADGM RA and Federal Competitiveness and Statistics Centre sign MoU

The Abu Dhabi Global Market (ADGM) Registration Authority (RA) has entered into a Memorandum of Understanding (MoU) with the Federal Competitiveness and Statistics Centre (FCSC) to support the UAE’s economic development through means of cooperation on knowledge sharing and capacity building.

The MoU was signed by Dhaher bin Dhaher Al Mheiri, CEO of the ADGM Registration Authority, and Hanan Ahli, Acting Director of the Federal Competitiveness and Statistics Centre.

Through the MoU, the ADGM RA and the FCSC will cooperate on the exchange of information, experiences, data, and statistics relevant to their mandates, and in adherence to the Data Protection Regulations, with the aim of enhancing the performance of their respective functions.

Commenting on the agreement, HE Hanan Ahli, Acting Director of the Federal Competitiveness and Statistics Centre said: "We appreciate the continuous support provided by Abu Dhabi Global Market (ADGM). Partnerships as such align with the vision and strategic objectives of FCSC, which focuses on the principle of knowledge for prosperity, as well as strengthening innovative partnerships. Through this agreement, we added a new channel of strategic partnerships to enhance the efficient and effective exchange of statistical data among our stakeholders."

Ahli added: "The UAE is aspiring to be one of the global leaders in data, information science and technology in accordance with the wise leadership's directive to lay strong knowledge foundations for the country's sustainable development. The MoU signed with ADGM confirms the government's efforts to maximize the benefits of constructive partnerships, to unify efforts, and to achieve integration between national institutions to promote the prosperity of the UAE."

Dhaher bin Dhaher Al Mheiri, CEO of the ADGM Registration Authority, said: “At ADGM, we believe that the greatest progress is charted through robust partnerships with institutions who share our commitments and objectives. As an international financial centre, ADGM’s mandate is rooted in fostering Abu Dhabi and the UAE’s economic growth and diversification, which we look to bring about through cooperation with our fellow local and federal entities. Our signing of this agreement with the Federal Competitiveness and Statistics Centre reaffirms this belief as we look to bolster the UAE’s economic development through an exchange of knowledge, insights, and data. We are confident that this agreement will result in positive cooperative efforts that will enhance our respective functions as data centres of excellence and aid in our joint commitment of strengthening the UAE’s competitiveness.”

The ADGM RA and the FCSC will also provide each other’s employee bodies with workshops and training opportunities to raise greater awareness across their respective workforces on their counterpart’s mandate and proprietary data and statistics, as well as best statistical processes and standards.