Sunday 23 June 2024

The workshop in session

Abu Dhabi investing $2.7bn to double manufacturing sector

ABU DHABI, September 24, 2023

Abu Dhabi is investing AED10 billion ($2.7 billion) in six programmes to more than double the size of its manufacturing sector to AED172 billion. This will create 13,600 skilled jobs and increase the emirate’s non-oil exports to AED178.8 billion by 2031, officials said.
"The programmes include Talent Development, Ecosystem Enablement, Industry 4.0, Circular Economy, Homegrown Supply Chain and Value Chain Development," said Eng Arafat Al Yafei, Executive Director of the Industrial Development Bureau (IDB) 
“One year after launching Abu Dhabi Industrial Strategy (ADIS), the number of new industrial licences grew by 16.6%, and total capital investments by manufacturers operating in the emirate have increased by AED12.42 billion to AED384.06 billion by end of June 2023.
Working closely
"We are focused to continue working closely with our strategic partners such as the Ministry of Industry and Advanced Technology (MoIAT) and the Abu Dhabi Chamber of Commerce and Industry (ADCCI) to raise awareness about programmes and incentives contributing to attracting talents and investments to benefit from ample opportunities in Abu Dhabi industrial sector,” Al Yafei said at a workshop organised by the Ministry of Industry and Advanced Technology (MoIAT) and the Abu Dhabi Chamber of Commerce and Industry (ADCCI) in cooperation with the Industrial Development Bureau (IDB) of the Abu Dhabi Department of Economic Development.
Meanwhile, the Abu Dhabi Chamber is committed to supporting the business community and contributing to the growth of the industrial sector in Abu Dhabi, said Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber. 
“This key sector is advancing steadily especially following the launch of ADIS by Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, which aims to consolidate the Emirate’s position as the most competitive industrial hub in the region,” he said. 
Al Qubaisi added: “As part of its role as a policy advocator, the Abu Dhabi Chamber leads the Industry Working Group, which aims to strengthen the ties between the industrial sector and government entities. The Working Group provides a platform for fostering constructive dialogue among key stakeholders from both the public and private sectors, thus driving the growth of the industry. 
Boosting cooperation
“This demonstrates our commitment to strengthening cooperation with all parties to uncover business development opportunities in the UAE and abroad, and drive the growth of the business community in the Emirate.”
The workshop was held at the Abu Dhabi Chamber’s building, under the title “Empowering Industrial Excellence: Strategies for Growth by MoIAT”. 
The workshop covered the most prominent national initiatives to support the industrial sector in the UAE, including UAE’s Industrial Strategy “Operation 300bn”, ADIS, the National In-Country Value (ICV) Programme, the ‘Industrialists Programme’, and strategic agreements including the Comprehensive Economic Partnership Agreement and the Industrial Partnership for Sustainable Economic Development. The workshop also highlighted the support provided by the Abu Dhabi Chamber in line with its strategy to make Abu Dhabi the first choice in the Mena region for establishing and doing business by the year 2025.
Public and private sector
Salama Al Awadhi, Director of the National In-Country Value (ICV) Programme at the Ministry of Industry and Advanced Technology, said: “MoIAT collaborates with public and private sector partners to strengthen the role of the national industrial and technological landscape. This aligns the sector with the direction of global transformation. 
“It underlines the UAE’s goal to enhance its industrial attractiveness in the region, supports local investors and small and medium-sized companies through the ministry’s incentives and enablers, as well as caters to the ambitions of industry leaders and pioneers in the field. The National Strategy for Industry and Advanced Technology, Operation 300bn, forms the foundation of the ministry’s initiatives and programmes to enhance the role of the industrial sector. It has achieved significant milestones over the past two years."
Al Awadhi added: “Abu Dhabi is undergoing a successful industrial transformation in line with the Abu Dhabi Industrial Strategy, which reflects the emirate’s ambitions to advance the sector. This supports the industrial and technological business community by providing more incentives and opportunities. The ministry is committed to supporting this direction, which aligns with the UAE’s development goals.”-- TradeArabia News Service


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