Abu Dhabi National Oil Company (ADNOC) has put more than AED 60 billion (USD 16.3 billion) of local manufacturing opportunities through 2030 on offer, covering more than 200 products that the UAE still imports, partly or entirely, from abroad.
The list sets out the required demand for each product year by year, according to the Ministry of Industry and Advanced Technology, which says it supports investors from inception to completion. Hasan Jasem Al Nowais, Undersecretary of the Ministry, said the opportunities show how domestic demand from a major buyer can be turned into investment in advanced industries, skilled jobs for UAE nationals and new production capacity.
The Ministry is working to link them with policies, incentives and financing. Osama Amir Fadhel, Assistant Undersecretary for the Industrial Accelerators Sector, said the National In-Country Value (ICV) Programme has channelled more than AED 473 billion into the national economy to date. The announcement was made at the Make it with ADNOC Forum, which falls under the “Make it in the Emirates” initiative.
Gulf Economist Staff Writer