ABU DHABI (ALETIHAD)
The sustainability of family businesses depends on governance, innovation, and continuity through new generations of leaders, a top official has said in the capital.
Khaled Abdulkarim Al Fahim, Chairman of the Abu Dhabi Family Business Council and Board Member of the Abu Dhabi Chamber of Commerce and Industry, said during his opening address at the fourth Global Owners and Family Office Congress that Abu Dhabi's selection to host Congress over the next three years reflects the emirate's growing importance within the global family investment landscape.
Al Fahim elaborate on thee core principles to sustain family busiensses: developing governance systems, adopting innovation and advanced technologies, and preparing a new generation of leaders able to keep pace with economic change and create future growth opportunities.
Abu Dhabi, Capital of Capital
The congress was organised by Campden Wealth in cooperation with the Abu Dhabi Family Business Council, an affiliate of the Abu Dhabi Chamber of Commerce and Industry. The congress reinforced Abu Dhabi's position as a global centre for family capital and wealth management.
The congress was held under the theme “The Power of Family Capital to Deliver Change”. Discussions focused on governance and succession, next-generation leadership, private wealth trends, and long-term investment strategies, including artificial intelligence and other advanced technologies.
The Abu Dhabi Family Business Council took an active part in the congress. Khaled Al Fahim also moderated a roundtable on the future of family businesses and the sustainability of their businesses and investments across generations.
Al Fahim highlighted the historic role family businesses have played in Abu Dhabi's economic development. He stressed that their contribution was not limited to keeping pace with economic change, but extended to taking an active part in shaping it, from establishing commercial activities and developing infrastructure to investing in hospitality and attracting international brands.
He said their long-term outlook has enabled them to grow alongside Abu Dhabi's economy. Al Fahim highlighted the sector's strengths, including stability, long-standing relationships and a long-term commitment to the communities in which they operate.
On the future of family businesses, Al Fahim stressed that preserving a family's economic legacy does not mean settling for traditional business management models, but requires readiness for technological change and stronger governance.
He pointed to the Abu Dhabi Family Business Council's partnership with the Mohamed bin Zayed University of Artificial Intelligence, which aims to enable family businesses to benefit from artificial intelligence applications in managing their businesses, strengthening their governance, and developing their decision-making processes.
Al Fahim emphasised that successful transition between generations is one of the most prominent strategic challenges facing family businesses globally. It requires early planning and clear governance frameworks, and greater involvement of future generations in decision-making.
The Council is working to translate these priorities into practical initiatives, including the Next Generation Family Business Leaders Programme, which recently took its first cohort from Abu Dhabi to Lausanne for a leadership development programme.
Al Fahim added that local family businesses today operate alongside some of the world's largest investment institutions and sovereign funds, within an economy that is expanding in advanced industries, financial services and technology.
Abu Dhabi Chamber established the Abu Dhabi Family Business Council two years ago to support the sustainability and growth of family businesses. Al Fahim affirmed that Abu Dhabi's hosting of the congress in the coming years offers an opportunity to deepen these links and develop a continuous dialogue among investment families on the future of family wealth, governance, innovation and cross-border partnerships.
Al Fahim also called on the leaders of family businesses and investment offices attending the congress to turn dialogue and knowledge exchange into relationships and partnerships that leave a lasting impact. He stressed that the most important responsibility of the current generation is to build an economic legacy that gives future generations a stronger base for growth and innovation.