Organizations across key sectors received recognition for their leadership in an evolving economic landscape
In a celebration of innovation, leadership, and excellence, the second edition of the Economy Middle East Summit, held on May 14 at ADGM, honored standout companies driving transformation across key sectors, including the economy, technology, finance, telecom and more.
As the UAE and the wider GCC accelerate their push toward economic diversification, recognizing the trailblazing partners leading this evolution has never been more vital amid shifting global dynamics.
Category: Urban Transformation Excellence
Recognized Entity: Abu Dhabi Department of Municipalities and Transport
The Abu Dhabi Department of Municipalities and Transport (DMT) has been instrumental in transforming the capital into a model of sustainable urban development. In 2024, DMT completed over AED4 billion worth of projects, including the introduction of more than 200 parks and beaches, enhancing the city’s livability. Initiatives like the Abu Dhabi Canvas have enriched the urban landscape through creativity and innovation. DMT’s commitment to smart mobility was evident with the successful trials of passenger-carrying drones and the expansion of public transportation networks, recording over 90 million bus rides. These efforts underscore DMT’s role in shaping a future-ready, inclusive, and vibrant Abu Dhabi.
Category: Financial Centre of the Year
Recognized Entity: ADGM
ADGM has solidified its position as a premier international financial center. In 2024, ADGM experienced a remarkable 245 percent increase in assets under management, reflecting its rapid growth and attractiveness to global financial institutions. The issuance of 1,271 new licenses and the expansion to Al Reem Island underscore its commitment to fostering a dynamic and robust financial ecosystem.
Category: Leadership in Cybersecurity
Recognized Entity: UAE Cybersecurity Council
In 2024, the UAE Cybersecurity Council solidified the nation’s position as a global leader in digital security. The UAE achieved a 100 percent success rate across all 80 criteria in the International Telecommunication Union’s 2024 Global Cybersecurity Index, earning the prestigious “Pioneering Model” designation. Notably, the country experienced a 96 percent reduction in Distributed Denial of Service (DDoS) attacks, decreasing from 58,538 incidents in H1 2023 to 2,301 in H1 2024. This remarkable improvement underscores the Council’s practical strategies and commitment to enhancing national cybersecurity resilience.
Category: Global Investment Accelerator
Recognized Entity: Abu Dhabi Investment Office
ADIO has been instrumental in attracting and facilitating investments that drive Abu Dhabi’s economic diversification. Through initiatives like the AED535 million Ventures Fund, ADIO supports startups and venture capital funds, fostering innovation and entrepreneurship. Its efforts in public-private partnerships have facilitated AED2.4 billion in deals from 2020 to 2024, enhancing infrastructure and services across the emirate. ADIO’s commitment to creating a conducive investment environment has solidified Abu Dhabi’s position as a global investment hub.
Category: Economic Policy Leadership
Recognized Entity: Abu Dhabi Department of Economic Development
ADDED has been instrumental in shaping Abu Dhabi’s long-term economic strategy and driving sustainable growth across key sectors. In 2024, the emirate’s GDP reached AED1.2 trillion, supported by a 6.2 percent surge in the non-oil economy. ADDED continues positioning Abu Dhabi as a globally competitive economic powerhouse through progressive policies, investment incentives, and regulatory reforms.
Category: Private Sector Empowerment
Recognized Entity: Abu Dhabi Chamber of Commerce and Industry
Abu Dhabi Chamber has been leading in empowering the private sector through its new strategic roadmap. The Chamber is actively connecting local businesses to global markets, advocating for pro-business policies, and enhancing competitiveness. Its commitment to fostering entrepreneurship and business excellence makes it a key driver of economic vibrancy in the emirate.
Category: Telecom Service Provider of the Year
Recognized Entity: e&
e& demonstrated exceptional performance in 2024, achieving a record consolidated revenue of AED59.2 billion, marking a 10.1 percent year-over-year growth. The company’s subscriber base expanded to 189.3 million across 38 countries. Technologically, Etisalat by e& pioneered the testing of 6 GHz and 600 MHz spectrum bands, achieving speeds up to 10 Gbps and extending 5G coverage beyond 6 km. These advancements position the company at the forefront of 5G innovation and underscore its commitment to enhancing connectivity.
Category: Regional Investment Powerhouse
Recognized Entity: EFG Holding
EFG Holding achieved record-breaking financial performance in 2024, with revenues surging by 66 percent year-on-year to EGP 24.4 billion. The company’s net profit after tax and minority interest increased by 71 percent to EGP 4.3 billion, driven by strong performances across its investment banking, non-bank financial institutions, and commercial banking divisions. This robust growth highlights EFG Holding’s pivotal role in regional investment and financial services.
Category: Innovative Investment Holding
Recognized Entity: Multiply Group
Multiply Group has demonstrated remarkable growth and innovation in its investment approach. In 2024, the Group achieved a 56 percent year-on-year increase in revenue, surpassing AED2 billion, with an EBITDA growth of 15 percent, reaching AED1.9 billion. Strategic acquisitions, including stakes in BackLite Media and Media 247, have expanded its portfolio across key media, mobility, and wellness sectors. Multiply Group continues to contribute significantly to Abu Dhabi’s economic development with a robust balance sheet and a diversified investment strategy.
Category: Leader in Sustainability Impact
Recognized Entity: Etihad Water & Electricity (EtihadWE)
EtihadWE has positioned itself as a national leader in driving sustainability initiatives across the UAE. In 2025, the company launched integrated sustainability programs aiming for a 30 percent reduction in electricity consumption and a 20 percent reduction in both water and fuel usage by 2030. Its desalination capacity, based entirely on Reverse Osmosis (RO) technology, currently reaches nearly 190 million imperial gallons per day, making it a model of efficiency and environmental responsibility.
Category: Pioneer in Green Hydrogen Solutions
Recognized Entity: Siemens Energy UAE
Siemens Energy UAE is leading the region in the advancement of green hydrogen technologies. Through landmark partnerships, including initiatives with Masdar and ADNOC, Siemens Energy has successfully piloted and scaled hydrogen-ready infrastructure in the UAE. The company’s deployment of electrolysis and hydrogen-compatible turbines positions it as a critical player in supporting the country’s energy transition and industrial decarbonization roadmap.
Category: Innovative Healthcare Leadership
Recognized Entity: Response Plus Holding (RPM)
Response Plus Holding (RPM) has emerged as a trailblazer in emergency medical services and on-site healthcare across the GCC and beyond. In 2024, RPM recorded a 32 percent surge in revenue, driven by strategic global expansions, including the acquisition of Prometheus Medical in the UK, and the launch of new medical centers across Saudi Arabia and India. With over 3,000 medical professionals and a fleet of more than 350 ambulances, RPM continues revolutionizing mobile healthcare delivery and supporting critical sectors such as oil & gas, military, and events with cutting-edge, scalable medical solutions.
Category: Pioneer in Healthcare Technology
Recognized Entity: M42
M42 stands at the forefront of healthcare innovation, leveraging artificial intelligence and genomics to deliver precise, patient-centric care. Notably, M42 has sequenced over 800,000 genomes, including 702,000 Emiratis, making it one of the most comprehensive genetic datasets globally. Their initiatives, such as the partnership with Toshiba to build the Middle East’s first heavy-ion therapy facility, exemplify their commitment to advancing medical technology and positioning the UAE as a global healthcare leader.
Category: Excellence in Medical Tourism
Recognized Entity: Cleveland Clinic Abu Dhabi
Cleveland Clinic Abu Dhabi has solidified its position as a premier destination for international patients, recording over 10,000 international patient encounters in 2024, a 35 percent increase from the previous year. This growth underscores the hospital’s commitment to providing world-class, multidisciplinary care, particularly in cardiology, ophthalmology, neurology, and urology. Their continuous investment in cutting-edge technology and medical innovation has earned them multiple regional and international accreditations.
Category: Startup Ecosystem Enabler of the Year
Recognized Entity: Hub71
Since its inception in 2019, Hub71 has emerged as a pivotal force in Abu Dhabi’s startup landscape. By 2024, startups within its ecosystem secured $2.17 billion (AED8.02 billion) in funding, marking a 44.7 percent year-on-year increase from $1.5 billion (AED5.4 billion) in 2023. This impressive growth underscores Hub71’s commitment to fostering innovation and attracting global talent. The platform received over 3,100 applications from entrepreneurs across more than 20 countries, with 46 startups selected, over 70 percent of which hailed from international markets. These startups generated $1.2 billion (AED4.5 billion) in revenue, reflecting sustained commercial traction across priority sectors. Strategic partnerships with Google, NVIDIA, and AWS have further solidified Hub71’s role in accelerating innovation across Web3, AI, renewable energy, and deep tech.
Category: SME Excellence in Innovation
Recognized Entity: Khalifa Fund for Enterprise Development
Established in 2007, the Khalifa Fund has nurtured the UAE’s entrepreneurial ecosystem. By 2024, it had supported the creation of over 15,000 jobs and issued 1,168 loans totaling AED1.32 billion. The Fund’s initiatives, such as the MZN Hub, a network of dedicated launchpads, and the UAE Women Empowerment Program, have provided invaluable support to startups and SMEs. In 2024 alone, the Fund delivered entrepreneurship training courses to 5,658 participants and group consulting sessions to 613 individuals. Its proactive approach in managing financial risk is evident from the 37.2 percent rate of non-performing loans being restructured, settled, or partially/fully waived. These efforts highlight the Khalifa Fund’s commitment to fostering innovation, economic diversification, and sustainable growth within the UAE’s SME sector.
Category: Pioneer in Smart Mobility Innovation
Recognized Entity: Smart and Autonomous Vehicle Industry, ADIO
Launched by the Abu Dhabi Department of Economic Development and the Abu Dhabi Investment Office, the SAVI Cluster is positioning Abu Dhabi as a global hub for smart and autonomous vehicle. Located in Masdar City, SAVI offers advanced testing infrastructure, regulatory frameworks, and a collaborative ecosystem for developing autonomous solutions across air, land, and sea. The cluster is projected to contribute AED22 billion to Abu Dhabi’s GDP and create more than 15,000 jobs by 2045, driving forward the UAE’s ambitions in innovation and mobility.
Category: Leader in Sustainable Automotive Excellence
Recognized Entity: Mercedes-Benz Middle East
Mercedes-Benz Middle East continues to lead the automotive sector with a strong focus on sustainability and technological excellence. By the end of 2024, the company reduced CO₂ emissions from production by 75 percent compared to 2018, with half of its energy now sourced from renewables. Waste sent for disposal also decreased by 38 percent year-on-year. These achievements reflect Mercedes-Benz’s long-term commitment to responsible manufacturing and a greener future for mobility in the region.
Category: Technology Enabler of the Year
Recognized Entity: stc
In 2024, stc led the region’s digital transformation by executing the largest 5G network expansion across 75+ cities, modernizing infrastructure with 400G upgrades, and reducing energy consumption by 43 percent. Its subsidiary, Solutions by STC, achieved a 34 percent profit growth, while Center3 advanced global connectivity projects, positioning Saudi Arabia as a regional digital hub. These achievements affirm stc’s role in powering digital ecosystems and future-ready infrastructure.
