Page 122 - ETIHAD CREDIT INSURANCE PR REPORT - OCTOBER 2024

10/28/24, 5:14 PM Emirates Development Bank achieved impressive cumulative financing of AED12.9 bn by Q3 - Eye of Riyadh
growth of Dubai’s key sectors. This substantial investment highlights the bank's dedication to enhancing the UAE’s economic
landscape and promoting sustainable growth throughout the region.

Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, emphasised the importance of EDB
Connect as an ideal platform to discuss economic trends, strategic partnerships and collaboration, and governmental incentive
schemes that can support local businesses and SMEs to upscale their operations and enhance their growth trajectory.

He stated “Dubai has always been recognized with its well-advanced and flexible infrastructure that fits all businesses from
different natures and sizes. However, today we live in a very fast-changing environment that requires prompt and quick
adoption of advanced and ready-to-utilize solutions. Consequently, it’s critically important we host such platforms that bring
key industry players together under one roof to exchange ideas, recognize challenges, and brainstorm solutions.”

He added “We unite here today under a shared vision, to shape and propel the UAE's economic diversification and industrial
growth. As we spearhead the nation's development efforts by optimizing its investment portfolio across critical industries, we

embrace a vital responsibility of nurturing our nation's growth and ensuring its future readiness. This commitment aligns with
the long-term economic vision of our leadership and supports our corporate and business objectives. Together, we are not just
participants in this journey; we are the architects of a resilient and prosperous future.”

This edition of EDB Connect featured three key panel discussions, which were moderated by EDB’s senior officials. The first
panel, titled “Dubai - A Global Hub for Impact Investing” explored Dubai's potential to become a global leader in impact
investing by leveraging its strategic location and economic strength. The second panel, titled “Dubai - The Advanced

Manufacturing Powerhouse” looked at the possibilities of transforming Dubai into a hub of advanced manufacturing solutions
driven by local innovation. The third panel, titled “Artificial Intelligence: The Engine of Modern Economy” discussed the role of
AI in driving businesses and enhancing their operational efficiency.

Additionally, a TED Talk-style session took place during the event titled “Scaling Up: Charting the Growth Journey of Dubai’s

SMEs” where Dr. Yasar Jarrar, AI Expert at the International Advisory Group (IAG), shed light on the impact of AI in
accelerating the growth of SMEs in Dubai.

The forum featured industry leaders representing various sectors, including the Ministry of Industry and Advanced
Technology; the Ministry of Economy; the Ministry of Energy and Infrastructure, Jabal Ali Freezone Authority; Dubai
Municipality; Dubai Industrial City; Dubai Integrated Economic Zones (DIEZ); Dubai Future Foundation (DFF); Emirates NBD
(ENBD); Mashreq Bank (Mashreq); Etihad Credit Insurance; Dubai Chamber; AmCham Dubai; ACME; and International

Advisory Group.

The event concluded with an award ceremony recognizing key stakeholders and strategic partners who have significantly
contributed to Dubai’s economic development.

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