The Abu Dhabi Investment Office and its government partners have announced eight new projects as they signed initial agreements with high-growth companies at the second Make it in the Emirates forum in Abu Dhabi.
The agreements, which aim to boost the growth of the emirate’s manufacturing base, cover various areas including manufacturing, banking, oil and gas, pharmaceuticals and health care, Adio said in a statement on Thursday.
During the forum, Adio also joined forces with Abu Dhabi Islamic Bank to support the industrial sector’s growth.
“The UAE continues to power ahead with its strategy to place advanced manufacturing at the heart of the economy,” said Abdulla Abdul Aziz AlShamsi, Adio’s director general.
“Within Abu Dhabi, the emirate’s innovation ecosystem, established infrastructure and exceptional connectivity to markets in the Middle East, Europe, Asia and Africa continue to create unparalleled opportunities for investors.”
Abu Dhabi’s industrial strategy aims to double the sector’s gross domestic product contribution by 2031, leveraging enablers such as infrastructure, competitive operational costs, business-enabling regulations and access to financing.
The Make it in the Emirates campaign encourages local and international investors to manufacture and export products from the UAE. The two-day forum which was held under the theme of “investment, sustainability, growth”, concluded on Thursday.
The inaugural Make it in the Emirates Forum in June last year resulted in Dh110 billion ($30 billion) worth of potential procurement agreements covering 300 products across 11 sectors.
The event falls under the umbrella of the UAE's Operation 300bn strategy, which seeks to position the country as an industrial centre by 2031.
The 10-year plan focuses on increasing the industrial sector's contribution to the UAE economy to Dh300 billion in 2031, from Dh133 billion in 2021.
Adio signed agreements with companies including Kezad Group, Emirates Investment Corporation, Infinity Green, Vitamol, A2N Holdings, Mark AB Capital Investment, SuperJet International and Oil Man.
“These projects represent a remarkable milestone in our pursuit of sustainable industrial development, supporting Abu Dhabi’s position as a manufacturing powerhouse,” said Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology.
