The twelve national companies are presenting more than 300 products across 11 sectors for local production and procurement, supporting the UAE’s efforts to become a hub for global industries, reports Asian Lite Newsdesk
The top UAE national companies on Tuesday announced a provision of Dh110 billion of potential purchase agreements for local manufacturers.
At the ”Make it in the Emirates” Forum, the twelve national companies are presenting more than 300 products across 11 sectors for local production and procurement, supporting the UAE’s efforts to become a hub for global industries.
These national companies include ADNOC, ADQ Holding, Emirates Global Aluminium, TAQA, Etisalat, Etihad Airways, Edge, Mubadala, Emirates Steel, Pure Health, Strata, Aldar, Emirates Nuclear Energy Corporation, Etihad Rail, and Masdar.
The first day of the ”Make it in the Emirates” Forum, spotlighted the UAE’s industrial capabilities, advantages and enablers that it offers manufacturers, in addition to the world-class logistics and communication infrastructure and facilities that support the industrial sector to be globally competitive and position the UAE as a global manufacturing hub.
The two-day event features the participation of major local and international industrial companies, UAE government entities and financial institutions operating in the UAE.
The forum was inaugurated by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, in the presence of Abdullah bin Touq Al Marri, Minister of Economy; Sarah bint Yousif Al Amiri, Minister of State for Public Education and Advanced Technology; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade etc.
Meanwhile, the eleven sectors include metals, petrochemicals, chemical industries, plastics, machinery and equipment, defense industries, pharmaceutical industries, technology and medical equipment, communications, and agricultural technology. The over 300 new products introduced for local production will contribute over AED 6 billion to the national GDP annually.
Localising these products is also expected to attract investments, promote the industrial sector and advanced technology, diversify the economy, enhance economic growth and sustainability, create new job opportunities and fortify supply chains.
Over 1,300 delegates attended the event, including representatives from leading national companies, manufacturers and investors with over 20 panel speakers, comprising CEOs of major industrial companies, as well as high level representatives from the public and private sector.
Dr Al Jaber noted that the Ministry focuses to “double our efforts, prepare for the future, contribute to our national economic diversification efforts and leverage the competitive advantages of the UAE in order to build a robust industrial sector that promotes self-sufficiency and increases local production”.
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Dr. Al Jaber urged companies to take advantage of the forum, highlighting that large companies are sharing their plans and visions “including their current product procurement plans, their future demand for various products, materials and services as well as their commitment to allocate part of that procurement to local suppliers in an effort to develop their existing industries and create new ones in the UAE and achieve economic value”.
He said, “The national industrial strategy was created in close consultation and collaboration with all relevant parties, including the industrial sector, government sector, private sector, investors and financial institutions through workshops and transparent dialogue, as well as through regional and international benchmarking.”
Dr. Al Jaber said that the ministry is seeking to empower economy by increasing the industrial sector contribution to the GDP to AED300bn by 2031.”
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