RIYADH: Abu Dhabi is embarking on an economic transformation with a 10 billion dirhams ($2.7 billion) investment plan to bolster its manufacturing sector through six strategic programs.
The goal is to more than double the sector’s size, reaching 172 billion dirhams, creating 13,600 skilled jobs and boosting non-oil exports by 2031, said top executives at a workshop organized by the Ministry of Industry and Advanced Technology on Sunday.
Speaking at the workshop, Industrial Development Bureau Executive Director Arafat Al-Yafei said: “The programs include talent development, ecosystem enablement, industry 4.0, circular economy, homegrown supply chain and value chain development.”
According to Al-Yafei, the number of new industrial licenses has grown by 16.6 percent since the Abu Dhabi Industrial Strategy was launched in June 2022.
Moreover, total capital investments by manufacturers operating in the emirate have increased by 12.42 billion dirhams to 384.06 billion dirhams in the year ending June 2023.
During the workshop, Al-Yafei emphasized the importance of the collaboration of MoIAT and Abu Dhabi Chamber of Commerce and Industry in raising awareness about programs and incentives designed to attract talent and investments, capitalizing on the abundant opportunities within the emirate’s industrial sector.
Abu Dhabi Chamber CEO Ahmed Khalifa Al-Qubaisi reaffirmed the institution’s commitment to supporting the local business community and facilitating the growth of the industrial sector.
He emphasized the sector’s consistent progress, particularly after Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed launched the ADIS.
ADIS aims to solidify Abu Dhabi’s position as the most competitive industrial hub in the region.
Salama Al-Awadhi, director of the National In-Country Value Program at the Ministry of Industry and Advanced Technology, also underscored MoIAT’s collaboration with public and private partners.
She 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.”
Al-Awadhi added: “The ministry is committed to supporting this direction, which aligns with the UAE’s development goals.”
Abu Dhabi’s substantial investment in its manufacturing sector, along with strategic partnerships and initiatives, is poised to catalyze economic growth, job creation and increased exports, firmly positioning the emirate as an industrial hub in the region.