UAE leads economic diversification in Arab region – News

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Over the next 50 years, empowering women to serve on the board of directors will be a key factor in building thriving economies, says Sheikha Shamma bint Sultan bin Khalifa Al Nahyan

“The UAE has led economic diversification in the region over the past 50 years, catalyzing a shift towards a cluster-based economy and making significant strides in creating innovative and sustainable industries,” said Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Co. – founder of Aurora50.

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The statement was made at the second annual three-day Aurora50 board summit, which began on Monday, under the patronage of Sheikha Shamma bint Sultan bin Khalifa Al Nahyan. The hybrid event allowed boards to connect women who have the experience required to add value to boardroom discussions.

“As we chart a course for the next 50 years, empowering women to take their place in the boardroom and empowering them to take action will be a key factor in building thriving economies that contribute to the advancement of society. region. Ensuring that we have diverse boards of directors fits into a framework of sustainable development and is essential for the development of a well-designed circular economy. An economy that will inspire other nations to follow, ”said Sheikha Shamma.

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Concluding the board summit, Sheikh Zayed bin Sultan bin Khalifa Al Nahyan, Vice President and CEO of Falcon Aviation and Chairman of Seven Emirates Investments LLC, attended an exclusive meeting held Wednesday in Dubai.

The meeting brought together a community of presidents to discuss the importance of diversity of thought on boards of directors and how it supports the economy of the UAE.

Abdullah bin Touq Al Marri, Minister of Economy and one of the event’s keynote speakers, highlighted how the Board Summit is an important platform to help drive change as the UAE is granting a paramount importance to gender equality.

“The great strides the UAE has made around the world and in the region to empower our women can be attributed to our country’s deep belief that women and men are equal partners in development. launched in recent decades to increase their participation on corporate boards and the boards of federal entities and institutions, ”said Al Marri.

“Women play a fundamental role in shaping the future of the nation and we are confident that this summit will bring many positive benefits, including not only improving the performance of boards of directors and companies, but also greater national economic growth and increased socio-economic participation of women. , concluded the Minister.

Among the positive outcomes of the summit, Abu Dhabi Ports and Aurora50 announced their collaboration for a one-of-a-kind accelerator, which will help Emirati employees of the organization gain leadership opportunities.

In addition, Abu Dhabi National Oil Company (Adnoc) is supporting a new initiative to collect information for a research report to be published next year. This research is a joint project conducted by Aurora50 in collaboration with Mohammed bin Rashid School of Government and sponsored by ADNOC. The research project aims to explore how women can maximize their opportunities and identify catalysts that have helped women who already sit on company boards.

At the Board Summit, Aurora50 brought together early career women on the board with seasoned directors to bridge the network gap. This follows the mandate adopted by the Securities and Commodities Authority (SCA) in March this year for greater representation of women on listed boards. Aurora50 aims to facilitate the connection of listed boards of directors with the growing talent pool and the first cohort of women participating in Aurora50’s flagship Pathway20 accelerator will graduate in November, with many having already reached board positions at Aurora50. non-executive administration.

The summit, supported by SCA, UAE Central Bank, Etisalat, ADNOC, Abu Dhabi Ports, Tabreed, Mashreq Bank and Nasdaq, brought together more than 1,000 participants from the key UAE ecosystem to highlight how Gender diversity goals are transforming boards of directors and contributing to the economic success of the UAE.


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