May 25, 2024

Abu Dhabi Industrial Strategy launched, Khaled bin Mohamed Inaugurates

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Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, recently launched the Abu Dhabi Industrial Strategy to strengthen the emirate’s position as the region’s most competitive industrial hub.

Abu Dhabi Government is reported to invest AED10 billion across six transformational programmes to more than double the size of Abu Dhabi’s manufacturing sector to AED172 billion by 2031 by increasing access to financing, enhancing ease of doing business, and attracting foreign direct investment.

The strategy, via the six programmes, is said to 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.

Khaled bin Mohamed bin Zayed inaugurates Abu Dhabi Industrial Strategy source

Multiple initiatives is said to take place 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 responsible 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 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.”

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