UAE Cyber Security Council and Masdar join nation's In-Country Value programme

Participation of these entities in the programme will support the local cyber security and renewable energy sectors and will boost job opportunities, the ministry says

Dr Sultan Al Jaber witnesses the signing of a preliminary agreement by Mohamed Al Ramahi and Abdullah Al Shamsi. Photo: Masdar

The UAE government's Cyber ​​Security Council and clean energy company Masdar enrolled in the Ministry of Industry and Advanced Technology’s National In-Country Value Programme.

The council joins a number of federal entities that have pledged to boost the Emirates' economy by helping it to redirect spending locally.

The announcement was made during the signing of two preliminary agreements between the three entities on the sidelines of Abu Dhabi Sustainability Week, in the presence of Dr Sultan Al Jaber, Minister of Industry and Advanced Technology.

The first agreement was signed by Mohammed Al Kuwaiti, head of the Cyber ​​Security Council, and Abdullah Al Shamsi, assistant undersecretary for the Industrial Development Sector at the ministry.

The second was signed by Mohamed Al Ramahi, chief executive of Masdar.

“The UAE has a strong technological infrastructure. We seek to promote a culture of investment in the cyber security, data management and cloud-computing sectors, and all related sectors by providing advantages to major international companies that join the National In-Country Value Programme, thus drawing them to invest in the country," Mr Al Kuwaiti said on Wednesday.

“The promising investment opportunities offered globally by the cyber security and data protection sector, which is expected to grow over the next decade, represent a promising investment opportunity for international companies. The business environment in the UAE is ideal for these companies to expand and prosper."

The ICV Programme, a key part of the UAE's Projects of the 50 that was launched in September, aims to boost the growth of UAE-based industries by redirecting half of government spending on procurements and tender contracts into the national economy by 2031.

It has expanded significantly since its launch last year, with 45 federal government bodies and 15 major national companies having signed up.

The programme is expected to increase internal demand for local products and services to Dh55 billion by 2025, from Dh33bn in 2020, as well as create between 90,000 and 120,000 jobs. It will also contribute an additional Dh51bn to Dh54bn to local gross domestic product by 2031.

The ICV Programme will also localise supply chains, attract more investment and raise the private sector's contribution to local GDP, government officials said last month.

Supporting the local cyber security sector will, in turn, boost job opportunities, expenditure and investments in highly valuable and technological areas, Mr Al Shamsi said.

“Expanding the application of the ICV Programme in new key sectors, such as the Cyber ​​Security Council, ensure it will open new horizons for cyber security, data science, cloud computing and related sectors. This also stimulates cyber security companies to seek new growth opportunities by relocating to the UAE market and operating in it," he said.

Quote
We seek to promote a culture of investment in the cyber security, data management and cloud computing sectors, and all related sectors.
Mohammed Al Kuwaiti, head of the UAE Cyber ​​Security Council

The participation of Masdar is also "vital" as it opens new horizons for investment in renewable energy, sustainability and clean technology, in line with the growing demand for products and services in these promising fields, he said.

The ministry will provide companies with the necessary training to execute the National ICV Programme. It will also establish a joint committee to evaluate and discuss operational aspects, as well as provide the necessary technical support and co-operation in industrial development in the field of renewable energy.

The programme has helped to redirect billions of dirhams of public and private sector expenditure related to procurement and services to the UAE's national economy, giving certified companies an advantage in the government procurement and tendering process.

The Ministry of Industry and Advanced Technology has partnered with 21 bodies to issue its ICV certificate.

Updated: January 19, 2022, 10:46 AM