Tuesday 8 October 2013

No rush on Abu Dhabi free zone timeline | The National

No rush on Abu Dhabi free zone timeline | The National:

"Abu Dhabi Global Market (ADGM)will map out the implementation of its strategy after talks with local and foreign stakeholders over the next eight weeks, says its chairman.

But Ahmed Ali Mohamed Al Sayegh said yesterday there was no fixed timeline for the formation of the financial free zone.

“The timeline will not be dictated by specific dates but rather a deliberate approach which will include within the next eight weeks a process for coordination and collaboration with local and international stakeholders on strategy and direction,” Mr Al Sayegh said without specifying which stakeholders would be involved in the talks.

A government decree was announced in February to establish the zone, where Abu Dhabi hopes to attract leading financial services companies to conduct business."

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