The third edition of the Make it in the Emirates Forum will unveil new initiatives, incentives, enablers, and financial solutions worth billions of dirhams to promote industrial investments.

 

To be held at the Abu Dhabi Energy Centre from May 27 to 28 under the theme ‘Invest. Innovate. Grow’, the forum will feature the Make it in the Emirates Awards and exhibition showcasing the innovations of 44 national companies, the UAE Ministry of Industry and Advanced Technology (MoIAT) has said announcing the forum’s agenda. The forum is organised by the ministry in collaboration with the Abu Dhabi Department of Economic Development (Added) and Adnoc Group.

 

The agenda was unveiled at a press conference held in cooperation with Added and Adnoc Group. The forum will bring together prominent local and international decision-makers, government officials, private companies, investors, experts, entrepreneurs, innovators and financing institutions.

 

The press conference was attended by Omar Al Suwaidi, Undersecretary of MoIAT, Rashed Abdulkarim Al Blooshi, Undersecretary of Added and Dr Saleh Al Hashemi, Head of the Department of Commercial Affairs and In-Country Value at Adnoc Group.

 

Industry objectives

The forum continues to support the objectives of the National Strategy for Industry and Advanced Technology to promote social and economic growth, ensure business sustainability and supply chain flexibility, as well as drive self-sufficiency in vital products. The event contributes to shaping the future of industry by promoting partnerships, investments, knowledge exchange and competitiveness.

 

New initiatives

Under the umbrella of the Make it in the Emirates initiative, the National In-Country Value (ICV) Programme and the Technology Transformation Programme (TTP), the forum will witness the announcement of agreements to enhance enablers, incentives, procurement opportunities, and the competitiveness of local products, as well as foster innovation, and technological transformation.

 

New partnerships along with investment opportunities worth billions of dirhams will be announced during the forum, which will showcase outcomes from initiatives from the previous editions, as well as investment opportunities that resulted in procurement opportunities of AED120 billion ($32.7 billion).

 

During the forum, the winners of the Make it in the Emirates Awards will be announced, while an accompanying exhibition will showcase key industrial opportunities and locally manufactured products, with the participation of 44 major companies.

 

Continuous achievements

Al Suwaidi said: “The Make it in the Emirates Forum provides an ideal platform for communication and knowledge exchange between local and international industrial stakeholders. This year’s edition will attract wide participation, including decision-makers, public and private sector representatives, entrepreneurs, investors, industrialists, experts, innovators and financing institutions.

 

“The third edition aligns with the directives of the UAE leadership to enhance the country’s empowering, stimulating ecosystem that supports the performance, growth and competitiveness of the industrial sector. The forum aligns with MoIAT’s efforts to increase industry’s contribution to GDP and diversify the national economy, as well as leverage investment opportunities and local purchasing power through the National ICV Programme. It will showcase the incentives and enablers provided by the ministry and its strategic partners under the National Strategy for Industry and Advanced Technology.”

 

He said: “The UAE’s industrial sector is one of the most competitive and attracts local and international investments through partnerships. It supports technological transformation by linking it to investment opportunities and financing. This year, the focus will be on the vital role of artificial intelligence. The forum will also comprise breakout sessions and the signing of new procurement agreements. The ministry has achieved several milestones under the National Strategy for Industry and Advanced Technology, including launching programmes and initiatives to attract investments.”

 

He added: “This year's edition follows a series of achievements since the launch of the National Strategy for Industry and Advanced Technology, as well as the two previous editions, which boosted the industrial sector. The inaugural edition, held in 2022, saw the announcement of procurement agreements worth AED110 billion.”

 

Ongoing cooperation

Al Blooshi said: “We are proud to coordinate with the Ministry of Industry and Advanced Technology (MoIAT) in organising the 3rd edition of ‘Make it in the Emirates Forum’. This is part of our efforts to strengthen Abu Dhabi’s position as the region’s most competitive industrial hub, contribute to achieving the objectives of ‘Operation 300bn’, the UAE’s industrial strategy, and the UAE’s Net Zero 2050 Strategy.”

 

He added: “Make it in the Emirates Forum provides a suitable platform to explore opportunities, build partnerships, and engage in discussions to address the needs of the industrial sector. It allows us to meet with talents, investors, and key players in the manufacturing sector, which is the largest non-oil GDP contributor in Abu Dhabi. Last year, the industrial sector continued its growth, contributing AED101 billion to Abu Dhabi’s GDP, representing 16.5% of non-oil economy and 8.8% of the Emirate’s total GDP, which exceeded AED1.141 trillion.”

 

He concluded: “The Abu Dhabi Industrial Strategy (ADIS), launched in June 2022, is a key component of our soaring ‘Falcon Economy’, driven by agile policies, innovative initiatives, and robust regulatory and legal framework. ADIS is guiding the manufacturing sector’s transition to Industry 4.0 and smart manufacturing’s methods, techniques, and approaches to drive a thriving, smart, diversified, and sustainable economy.”

 

Dr Saleh Al Hashimi, Director of Adnoc’s Commercial and In-Country Value (ICV) Directorate, said: “Adnoc is proud to partner with the Ministry of Industry and Advanced Technology on ‘Make it in Emirates’ which is accelerating the UAE’s diversification efforts, driving the growth of national industries, creating jobs for UAE Nationals in the private sector, enabling local SMEs, and furthering the adoption of advanced technology and artificial intelligence in local supply chains. Under the UAE’s wise leadership, Adnoc will boost its local manufacturing opportunities as it expands its In-Country Value (ICV) Programme to strengthen the UAE’s industrial base while making today’s energy cleaner and investing in the clean energies of tomorrow.”

 

Positive shifts

In 2023, the value of local procurement agreements increased by more than AED10 billion to reach AED120 billion through more than 1,400 products for local manufacturing, supporting business growth, as well as the flexibility and sustainability of local supply chains. 

 

The 2023 forum also witnessed the launch of new industrial projects, including 30 with investments worth AED5.8 billion. This was in addition to the launch of initiatives such as Green ICV and the Made in the Emirates mark, as well as key partnerships between local industrial and global technology companies.

 

Meanwhile, Adnoc Group allocated AED20 billion to procure metal structures and products exclusively from national factories. First Abu Dhabi Bank and Mashreq Bank announced AED6 billion in financing for industrial companies.

 

Panel discussions

The first day of the 2024 forum will include panel discussions on the UAE's industrial vision titled ‘Realising the UAE's industrial vision: Operation 300bn and charting future growth’, ‘Advancing the AI revolution: Implementing new computing paradigms in real-world industrial settings’, and ‘Future oriented ICV and alignment with offtake agreements and competitiveness: Leveraging ICV to drive innovation; collaborative approaches for strengthening industrialisation.’

 

It will also feature the Make it in the Emirates Awards ceremony to honor industrial companies and individuals who have contributed to innovation and sustainable industrial growth.

 

Sessions on the second day of the forum will discuss the UAE's efforts to attract investments in aerospace, explore green technology opportunities in the industrial sector, as well as the growth of sustainable manufacturing and achieving global leadership in key sectors, in addition to multi-OEM collaboration in smart mobility. 

 

A youth panel titled ‘Inspiring Youth Participation in Industry: A session to inspire Emirati youth involvement in the industry’ organised by the ministry’s Youth Council will engage a new generation of entrepreneurs and talents to excel in the sector, in parallel with breakout sessions.

 

A growth incubator

The Make it in the Emirates Forum is an incubator for industrial growth, as well as local and global investment in the UAE, providing investment opportunities that enhance the resilience and self-sufficiency of the sector.

 

The forum is in line with MoIAT’s commitment to empowering and motivating national and international technology and industry companies to further their contribution to achieving the objectives of the National Strategy for Industry and Advanced Technology. 

 

The event also helps young Emirati entrepreneurs and startups to launch their projects and introduces them to investment opportunities by providing them with a platform share their success stories.--TradeArabia News Service