Abu Dhabi Government has announced plans to invest AED10 billion ($2.72 billion) across six transformational programmes to more than double the size of Abu Dhabi’s manufacturing sector to AED172 billion ($46.83 billion) by 2031 by increasing access to financing, enhancing ease of doing business, and attracting foreign direct investment.
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The new Abu Dhabi Industrial Strategy, launched by Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office, will strengthen the emirate’s position as the region’s most competitive industrial hub.
The strategy, via the six programmes, will create 13,600 skilled jobs, with a focus on Emirati talent, and boost Abu Dhabi’s trade with international markets, with a goal to increase Abu Dhabi’s non-oil exports by 143 per cent to AED178.8 billion by 2031.
Multiple initiatives, including a new circular economy regulatory framework, as well as new green policies and incentives, will help continue Abu Dhabi’s transition towards a smart, circular economy, powered by an industrial sector that champions respsonsible production and consumption across waste management, parts supply, and manufacturing.
Commenting on the milestone launch, which took place at Khalifa Industrial Free Zone (Kizad), Mohammed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said: “Abu Dhabi’s blueprint for a comprehensive industrial strategy is an ambitious vision that will guide the future of the emirate’s manufacturing sector, and shape a resilient and diversified economy for decades to come. In line with the UAE’s industrial strategy, Operation 300bn, our roadmap will create the ideal environment for businesses to emerge and grow.
"It addresses our ever-growing productivity goals, helps secure future investor opportunities, safeguards our human capital and boosts job creation, and enables us to pre-empt evolving market conditions and shifting trends.
"The Abu Dhabi Industrial Strategy, which includes plans for a smart circular economy, catalyses value creation and ensures cost competitiveness. And with the combination of Abu Dhabi’s enabling public-private partner business ecosystem and investor-friendly regulations, we are ushering in a new era of economic growth.â€
Falah Mohammad Al Ahbabi, Chairman of AD Ports Group, said: “Building upon the UAE’s ambitions to develop and enact effective economic strategies that directly impact the growth of the local economy and advance its status as a leading player in international trade and industry, Abu Dhabi’s industrialisation strategy is a tremendous initiative that reflects our wise leadership’s promise towards achieving the sustainable transformation of our economy over the next decade. ■