Abu Dhabi unveils $2.7bn strategy to enhance manufacturing industry

Abu Dhabi is undertaking a significant economic shift with a 10 billion dirham ($2.7 billion) blueprint to enhance its manufacturing landscape via six core initiatives.

The objective is to amplify the sector's capacity, targeting a value of 172 billion dirhams. That would create 13,600 specialized roles and elevate non-oil exports by 2031, as highlighted by senior leaders during a Sunday seminar by the Ministry of Industry and Advanced Technology.

At the event, Arafat Al-Yafei, the Industrial Development Bureau's Executive Director, commented: "Key areas of focus include nurturing talent, fostering industry ecosystems, embracing Industry 4.0, promoting a circular economy, developing domestic supply chains, and enhancing the value chain."

Al-Yafei noted a 16.6% rise in fresh industrial licenses post the inauguration of the Abu Dhabi Industrial Strategy in June 2022. Additionally, manufacturers in the emirate have expanded their capital investments to 384.06 billion dirhams, a surge of 12.42 billion dirhams, as of June 2023.

Al-Yafei underscored the synergy between MoIAT and the Abu Dhabi Chamber of Commerce and Industry, emphasizing their role in spreading awareness about lucrative schemes and incentives to draw talent and capital, thus leveraging the vast potential in the emirate's industrial arena.

Ahmed Khalifa Al-Qubaisi, the CEO of the Abu Dhabi Chamber, reiterated their dedication to nurturing local enterprises and spurring industrial growth. He spotlighted the continuous advancements in the sector, especially after the introduction of ADIS by the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed. The goal of ADIS is to anchor Abu Dhabi as the top industrial epicenter in the region.

Salama Al-Awadhi, a top official at the Ministry of Industry and Advanced Technology, highlighted the ministry's symbiotic relationships with public and private domains. She remarked, "In partnership with diverse sectors, MoIAT endeavors to bolster our national industrial and technological frameworks, syncing with global evolution trends." Al-Awadhi further stated, "Such endeavors align seamlessly with the overarching developmental aspirations of the UAE."

With its significant infusion of capital, strategic alliances, and projects, Abu Dhabi stands on the cusp of driving economic acceleration, job prospects, and heightened exports, solidifying its stature as a regional industrial powerhouse.