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The Ministry of Industry and Advanced Technology (MoIAT) signed three separate Memorandums of Understanding (MoU) with Etisalat, Emirates Steel and Abu Dhabi National Energy Company TAQA as the first three national companies to join to commemorate their contribution to the national energy promise. Domestic Value (ICV) plan.
By joining the National ICV program officially launched by the Minister of Industry and Advanced Technology, Dr. Sultan bin Ahmed Al Jaber, as part of the first batch of “Top 50 Projects”, Etisalat, Emirates Steel and TAQA will now give priority to local ICV-certified suppliers For other entities bidding for commercial contracts.
This move is part of the UAE’s broader national industrial and advanced technology strategy, which aims to strengthen the local supply chain by supporting companies that produce goods and services in the UAE, increasing the UAE’s industrial sector’s contribution to GDP to 300 billion by 2031 Dirhams. It also helps to achieve the goal of 50 projects, a series of development and economic projects aimed at accelerating the development of the UAE and establishing its status as an ideal destination for talents and investors.
Dr. Sultan bin Ahmed Al Jaber and Minister of State for Advanced Technology Sarah bint Youssef Al Amiri attended the signing ceremony.
The respective agreements were signed by Omar Suwaina Al Suwaidi, Deputy Minister of MoIAT, Engineer Hatem Dowidar, CEO of Emirates Telecommunications Group, Engineer Saeed Ghamran Al Rumaithi, CEO of UAE Steel Corporation, and Jassim Hussein Thabet, CEO and Managing Director of TAQA Group. Dhabi National Energy Corporation.
“The signing of the Memorandum of Understanding today marks an important next step for the UAE’s industrial sector to increase local content,” Al Suwaidi said. “As we continue to advance the momentum of the 300 billion action, the national ICV plan will become a key enabler for localization and strengthening our strong supply chain.
“According to today’s memorandum of understanding, Etisalat, Emirates Steel and TAQA will prioritize suppliers in the UAE for commercial tenders, shift industrial project expenditures to local companies, and increase growth opportunities in the local market.
The ICV program has a track record of success. The ICV program was implemented locally for the first time in 2018, helping to redirect 88 billion dirhams to the UAE’s industrial sector and creating more than 2,000 jobs in the UAE. It also stimulates entrepreneurship and innovation in the small and medium-sized enterprise (SME) sector. “
He added: “Now we are implementing it at the federal level. We expect that by 2025, more than 42% of government and private sector spending will be spent on the UAE’s industrial sector and the supply chain that provides services for it. The Industrial Revolution (4IR) resolves Plans and accelerating the integration of advanced technologies in the entire industrial value chain, the national ICV certification will help unlock huge opportunities and contribute to the rapid socio-economic development of the UAE.”
Jassim Thabet said: “TAQA continues to be committed to adding value to the local market. To this end, our strategy includes substantial investment in Abu Dhabi, for example, by 2030, another 40 billion dir. in the transmission and distribution of electricity and water. Ram.
“Through cooperation with the Ministry of Industry and Advanced Technology, we will explore more opportunities to double the domestic value-added of all our local and international businesses,” Thabet added.
Britain. Hatem Dowidar said: “Etisalat is proud to be a partner of MoIAT’s ICV program, an important contributor to its goal of supporting the national industrial sector and local investment, and helping to localize the supply chain of products and services that play a key role in the following aspects .”
Dowidar added: “Through its strategy of’promoting a digital future to empower society’, Etisalat is keen to contribute to accelerating local economic growth, and through national capabilities to provide local advanced technology and world-class digital solutions to accelerate everyone’s Digital transformation. Entity and industry.”
Dowidar pointed out that Etisalat is recognized as the fastest mobile network in the world and the strongest brand in the Middle East and North Africa. It continues to use advanced technologies such as 5G, Internet of Things (IoT), artificial intelligence (AI), cloud solutions and The sustainable development plan implemented by the UAE government relies on innovation and advanced technology to improve a series of performance.
As far as he is concerned, Eng. Saeed Al Rumaithi said: “The UAE Steel Corporation today signed a memorandum of understanding with MoIAT, which has taken an important step towards the diversification of our national economy by focusing on several important sectors, especially the industrial sector in the UAE. We value everyone’s role in promoting the country. The ICV plan, providing commercial protection for national industries and stimulating local investment efforts will have a significant impact on the industrial sector, because the industrial sector is one of the key pillars of a diversified economy. Considering that the global supply chain is affected by the coronavirus The disruption encountered during the epidemic has made strengthening the local supply chain more important than ever. UAE Steel continues to work hard to improve the performance of the UAE steel industry, in line with its vision to become the best steel manufacturer in the world.”
The Memorandum of Understanding with Etisalat, Emirates Steel and TAQA further advances MoIAT’s mission of proposing and formulating policies, strategies, legislation and plans to increase local industrial content, create domestic value and enhance the UAE’s global competitiveness.
These agreements also encourage cooperation between government entities and the private sector to incentivize the industrial sector. By implementing the national ICV plan for all purchases and contracts, the three entities will also adopt the standards approved by MoIAT.
For its part, MoIAT will provide training programs to develop and enhance human capital, and establish a joint action committee to evaluate the impact of the national ICV program.
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