Abu dhabi: The Abu Dhabi Family Business Council (ADFBC), an affiliate of the Abu Dhabi Chamber of Commerce and Industry, has signed a cooperation agreement with the Family Business Council Gulf (FBCG), a non-profit organisation dedicated to supporting the sustainability and long-term success of family businesses across the Gulf Cooperation Council.
According to Emirates News Agency, the agreement aims to reinforce the resilience and competitiveness of family enterprises, regionally and globally, aligning with Abu Dhabi's ambition to consolidate its role as a global hub for family business and private sector leadership. The agreement was signed by Khaled Al Fahim, Chairman of ADFBC, and Badr Al Ghurair, Board Member of FBCG, on the sidelines of Abu Dhabi Finance Week.
The cooperation encompasses capability-building programmes, next-generation leadership development, advancement of family governance initiatives, and the organisation of forums and workshops. Additionally, it includes the issuance of benchmarking studies and policy papers addressing future challenges facing family businesses in the region.
The partnership will promote best practices in strategic planning, business continuity, and family governance. It will also provide a programme focused on leadership succession and family governance, setting out a joint work plan for developing specialised training programmes and launching family governance initiatives.
Under this agreement, high-level events, roundtables, and dialogue groups will be organised to bring together family business leaders, policymakers, and international experts. Knowledge-sharing channels will be established to connect local and regional family business communities.
The entities involved commit to ensuring that all programs and workshops in Abu Dhabi align with the emirate's economic and institutional priorities, reinforcing its position as a global centre for sustainable, multi-generational family enterprises.
Commenting on the signing, Khaled Al Fahim highlighted the agreement as a pivotal milestone in strengthening family businesses as a strategic pillar of economic development. He emphasized the importance of investing in capability building, knowledge transfer, and governance to ensure continuity across generations and support economic diversification.
Hind Bahwan, Chairman of Family Business Council Gulf, noted the promising phase of economic growth in the Gulf region, with family businesses at the forefront. She expressed confidence in the partnership's potential to open high-value opportunities for family enterprises in the region.
Badr Al Ghurair remarked on the significance of the partnership in expanding the community in Abu Dhabi, connecting its dynamic family business ecosystem with a global network of over 20,000 members across 65 countries, creating opportunities for collaboration and growth.
The agreement comes amid growing recognition of the central economic role of family businesses, which account for up to 90% of private sector companies in the Middle East, contributing around 60% of GDP and generating nearly 80% of private sector employment.
In the UAE, family businesses contribute 60% of GDP and employ 80% of the workforce. In Abu Dhabi, these businesses account for significant portions of the construction, financial services, wholesale trade, and transport sectors.
Globally, family businesses generate nearly 70% of GDP, employing approximately 60% of the global workforce, highlighting their role as a cornerstone of economic stability. This agreement is expected to establish a reference framework for family businesses in the UAE and the region while strengthening Abu Dhabi's position as a global destination for sustainable enterprise.