British companies risk “missing the boat” if they fail to take advantage of opportunities in Abu Dhabi, according to Yousef Al Nowais, chairman and managing director of Arab Development Establishment.
Mr Al Nowais warned that UK firms have fallen behind in global competitiveness, noting that other European and Asian players have moved swiftly to establish industrial bases in the UAE.
He was speaking at the Abu Dhabi–London Chamber Connect event hosted by the Abu Dhabi Chamber in London on Wednesday.
“In the last 10 years, British companies have not been as competitive and have been out of the market,” he said during a panel discussion.
“If they want to strengthen their position, one good element is to move and do some industrialisation in Abu Dhabi. It will reduce their cost and make them more competitive.”
Mr Al Nowais, an Emirati industrial leader who drives major energy and infrastructure partnerships, said that while international firms from France, Italy and Asia have leveraged Abu Dhabi’s industrial base to gain market share, British companies have been slower to act.
chairman and MD, Arab Development Establishment
“There is the opportunity,” Mr Al Nowais said. “But British companies have not been in the top competition with other countries like France and Italy, which are killing the market. I really encourage British companies to make a better offer – come to the UAE, look at the opportunities, and partner with local firms or operate in the free zones.”
He pointed to the UAE’s multibillion-dollar investments in energy, manufacturing, and technology as key openings for UK firms ready to expand beyond their home market.
Lord Udny-Lister, co-chairman of the UAE-UK Business Council, moderated the panel discussion, which brought together top business figures to share insights on Abu Dhabi’s evolving economic landscape and its growing attractiveness to UK enterprises.
Adding to the discussion, MA Yusuff Ali, chairman of Lulu Group International, underscored the UAE’s advantages for entrepreneurs and manufacturers.
“Start-up companies, industrialists, and traders can use Abu Dhabi as a hub for trading and industrialisation,” Mr Ali said. “Electricity is cheap, infrastructure and all facilities are available, and there are banks ready to help with industrial and business growth.”
West to East
Khalifa AlMahmoud, director of investor attraction at the Abu Dhabi Investment Office, said that recent UK fiscal policy shifts are prompting many high-net-worth individuals and businesses to seek more stable, growth-orientated environments.
“A lot of fiscal policy changes in the UK are not benefiting high-net-worth individuals and family offices,” he told The National.
“Uncertainty around taxation, inheritance and schooling costs has made long-term planning more difficult, and investors are naturally looking for new destinations to move their assets, businesses, and families.”
He noted that Abu Dhabi’s unique mix of connectivity, security and quality of life has positioned it as a natural destination for global investors.
The results are already visible, he said. “We’ve seen a 50 per cent increase in company registrations this year … Interest is coming from Europe, the US, and particularly the UK, as more firms see the benefits of expanding or relocating to Abu Dhabi.”
Pace of business
UK-based innovators attending the event said they were exploring partnerships and expansion opportunities in the Gulf.
David Sully, chief executive and co-founder of Advai, a London-based artificial intelligence company specialising in the safety and security of AI systems, said while the UK is a great place to build a business, it also has its obstacles.
It has phenomenal talent, especially in engineering, he said, but with a lower market value than the US. It's also “quite regulation heavy, which has its consequences”.
“The downsides to that are slower, like, everything,” said Mr Sully, especially when it comes to partner and customer acquisition, which affects his company’s growth rate. “The UK is interesting on that, and I love it, but I'm interested in the pace that others seem to be going at,” he added, particularly in the UAE.
“All of the effort and investment going on in Abu Dhabi around AI – like AI71 and Hub71 – shows real ambition,” said Mr Sully. “We’re looking at expanding outside the UK, and Abu Dhabi and the Emirates are among the markets we’re exploring. It feels like a faster-growing market, with a lot of energy and optimism … a bit like Singapore.”
Mr Sully noted that while the UK remains strong in AI talent, Abu Dhabi’s forward-looking regulatory and innovation environment could offer faster growth and collaboration.
Similarly, Ahmed Shawky, chief executive of SustainGRC, a London-based AI-native sustainability and governance platform, said the Gulf region’s supportive ecosystem and clear sustainability agenda make it a natural next step for expansion.
“We’re now in the scale-up stage, and I see the GCC market as one of the fastest-growing globally,” Mr Shawky said. “The ecosystem there is more supportive, regulation is easier to navigate, and funding for growth is more accessible than in Europe.”
Having spent more than 15 years in Abu Dhabi earlier in his career, Mr Shawky said returning to the region made strategic sense.
“The market is ready now more than ever for AI-native sustainability and GRC solutions,” he said. “As soon as we find the right partner, I would [immediately] expand to Abu Dhabi.”
The Abu Dhabi–London Chamber Connect event focused on the emirate’s growing role as a magnet for international investment, particularly from UK firms seeking new markets, lower operational costs, and stronger growth prospects.
“There’s a lot happening − from oil and gas to advanced industries, and I think British companies will miss the boat if they don’t act now,” Mr Al Nowais concluded.
