Today's Edition
ABU DHABI (WAM)
Abu Dhabi is on the fast track to power its industrial sector with incentives from the government. On Sunday, the Ministry of Industry and Advanced Technology (MoIAT) and the Abu Dhabi Chamber of Commerce and Industry (ADCCI) held a workshop, in cooperation with the Industrial Development Bureau (IDB) of the Abu Dhabi Department of Economic Development, to raise awareness on the incentives supporting the growth of the industrial sector.
The workshop was held under the title “Empowering Industrial Excellence: Strategies for Growth by MoIAT”. The workshop was attended by Salama Al Awadhi, Director of the National In-Country (ICV) Programme at the Ministry of Industry and Advanced Technology; Arafat Al Yafei, Executive Director of the Industrial Development Bureau, and representatives of key industrial companies operating in Abu Dhabi.
The workshop covered prominent national initiatives to support the UAE’s industrial sector, including the UAE’s Industrial Strategy Operation 300bn, the Abu Dhabi Industrial Strategy (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.
Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber, said, “This key sector is advancing steadily, especially following the launch of the Abu Dhabi Industrial Strategy (ADIS) by H.H. Sheikh Khaled 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.”
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.”
Salama Al Awadhi, Director of the ICV Programme at MoIAT, said, “The Ministry of Industry and Advanced Technology collaborates with public and private sector partners to strengthen the role of the national industrial and technological landscape...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.”
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.”
Arafat Al Yafei, Executive Director of the Industrial Development Bureau (IDB), said, “Since the launch of Abu Dhabi Industrial Strategy in June 2022, we have rolled out many initiatives and programmes to achieve its objectives. Abu Dhabi is investing Dh10 billion in six programmes including Talent Development, Ecosystem Enablement, Industry 4.0, Circular Economy, Homegrown Supply Chain, and Value Chain Development to more than double the size of its manufacturing sector to Dh172 billion, create 13,600 skilled jobs and increase the emirate’s non-oil exports to Dh178.8 billion by 2031.”
“One year after launching ADIS, the number of new industrial licenses grew by 16.6%, and total capital investments by manufacturers operating in the emirate have increased by Dh12.42 billion to Dh384.06 billion by end of June 2023,” Al Yafei added.
