‘Make it in the Emirates Forum’ to highlight UAE industrial sector

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The industrial sector’s contribution to national GDP reached Dhs150 billion at the end of 2021.

The Ministry of Industry and Advanced Technology (MoIAT) will host the ‘’Make it in the Emirates Forum’’ on June 21-22, drawing a large number of local and international industrial companies, government entities, financing institutions, and investors.

The forum, organised in cooperation with the Abu Dhabi Department of Economic Development (ADDED), under the theme of ‘Invest, Partner, Grow’, will provide an important platform for presenting local investment opportunities in the industrial sector with an aim to boost the national industrial sector, which is a key enabler of the UAE’s economic diversification efforts.

More than 1,300 representatives from investment firms, financial institutions, national companies and public sector entities will participate in the forum, with more than 20 key stakeholders speaking on topics including industrial growth strategies.

During the forum, major national companies will present billions of dirhams of investment opportunities in various fields, including defense, petrochemicals, metals, electrical appliances and equipment, rubber and plastics, pharmaceuticals, and medical supplies among others.

The event will witness the signing of a number of Memoranda of Understanding, commercial agreements and industrial partnerships.

Government entities will unveil incentives, such as a significant access to capital financing, with flexible repayment terms, low interest rates, and other financial solutions.

The forum will include sessions that highlight key topics including investment opportunities in the industrial sector, expected demand for products and services, and the future of industry.

The forum takes place two years after the COVID-19 pandemic outbreak, where the UAE’s response, in particular through its industrial strategy, has showcased its resilience. Since 2020, UAE industrial exports have grown from Dhs82 billion to Dhs116 billion, despite global economic headwinds and supply chain challenges. The industrial sector’s contribution to national GDP reached Dhs150 billion at the end of 2021.

The Ministry of Industry and Advanced Technology focuses on supporting the growth of the industrial sector and increasing its contribution to the national GDP. One of the ministry’s key initiatives is the national In-Country Value Programme (ICV), which has achieved impressive results during its first year of implementation, redirecting more than Dhs 41 billion to the national economy.

Various leading entities will participate in the forum, including the Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi National Oil Company (Adnoc), Mubadala Investment Company, Etisalat, ADQ, Aldar Group, EDGE Group, TAQA, Emirates Steel, Etihad Rail, Emirates Global aluminium, Etihad Airways, Masdar, Emirates Nuclear Energy Corporation, Tawazun Economic Council, Pure Health, various UAE Chambers of Commerce, Nafis programme and others.

Moreover, seven major financial institutions will be showcasing their competitive financial solutions including the Emirates Development Bank, First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Etihad Credit Insurance, Abu Dhabi Fund for Development, Abu Dhabi Islamic Bank, and Standard Chartered.

In addition, more than 24 companies will participate in a dedicated exhibition area where they will showcase their investment opportunities; whereas financial institutions will unveil a range of incentives that will help investors to capitalise on those opportunities.

UAQ Industrial Authority: The Umm Al Qaiwain Industrial Authority is helping to strengthen the process of development of the emirate of Umm Al Qaiwain and is enhancing its local and international stature, by attracting capital and providing facilities at the 60,000 Square Kilometre Umm Al Thuoob Industrial Area.

The Authority has also highlighted its keenness to help support economic activities in the emirate and the UAE, as well as attract key industries and create a favourable environment for investors.

The Industrial Authority announced an increase in the percentage of lease contracts in the Umm Al Thuoob Industrial Area from 192 contracts in the 2019 fiscal year to 289 contracts at the end of the 2021 fiscal year, an increase of 98 contracts, or 50.21 percent.

It also completed infrastructure works in Umm Al Thuoob, as well as international road development projects in the city to create a modern road network and a comprehensive investment infrastructure for the industrial city.

The Authority then stressed that Umm Al Thuoob is attracting many investors, due to the facilities provided to them and the area’s competitive investment environment that attracts logistics and operations industries, along with the efforts to support industries in Umm Al Qaiwain.

WAM

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