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Abu Dhabi issues 136 new industrial licenses in H1 2022, reflecting growth in the emirate manufacturingwhich is one of its main priorities economic diversification.
quantity industrial facility A report by the Industrial Development Authority of the Abu Dhabi Ministry of Economic Development found that the number of factories entering the construction phase reached 62, while 44 factories moved from the construction phase to the production phase.
The total number of production licenses in force reached 866 at the end of June, the government agency said, without providing comparative figures.
Total capital expenditures on industrial facilities moving into the production phase rose to AED3.1 billion ($353 million) in the six months to June, compared with AED1.03 billion a year earlier, the report said.
“We build on these successes and will continue to work to ensure ease of doing business, support for industrial financing and foreign direct investment [foreign direct investment] Attraction to achieve recently launched goals Abu Dhabi Industrial Strategy Strengthen the emirate’s position as the most competitive industrial hub in the region,” said Deputy Minister of the Ministry Rashid Albrohi.
“The industrial sector is the largest contributor to Abu Dhabi’s non-oil GDP [gross domestic product] In addition to its role in job creation and enhancing knowledge and innovation-driven initiatives. “
Under the Abu Dhabi Industrial Strategy, the government will more than double its size by investing AED10 billion ($2.72 billion) in six industrial projects. Manufacturing in the Emirate AED 172 billion by 2031. This will create 13,600 skilled jobs, with a focus on hiring Emiratis.
The strategy aims to strengthen the emirate as the region’s The most competitive industrial center.
Number of government tenders awarded to companies Certificate of Domestic Value (ICV)The report showed that the number of tenders under the Abu Dhabi Local Content Programme (ADLC) increased to 466 from 95 in the first half of 2021.
In the first six months of 2022, the value of bids won by ICV Holdings increased to AED 970.5 million from AED 556 million in the first half of 2021.
Due to tenders with local content value, the local economy reinjected around AED407 million to support local products, compared to AED215.2 million in the first half of 2021.
There is also growing interest from manufacturers in the Gold List scheme, which aims to increase demand for locally manufactured goods through government procurement, the report showed.
By June 2022, the number of manufacturers joining the list reached 127, an increase of more than 14% from December 2021.
Meanwhile, Abu Dhabi manufacturers received a total of AED1.02 billion in tariff exemptions in the first half of 2022, with five new factories receiving Electricity Price Incentive Program (ETIP) certificates.
ETIP aims to increase the productivity of industrial facilities, increase their economic impact and improve energy efficiency by providing competitive electricity prices.
IDB has also launched the Smart Manufacturing Programme, which assesses the readiness of 76 facilities to transition to Industry 4.0 technologies, said Sameh Al Qubaisi, Director General of Economic Affairs at the department.
“We are strengthening our partnerships with global leaders to help manufacturers move to Industry 4.0 and support a circular, smart and sustainable economy,” he said.
To fund the industrial sector, IDB has signed agreements with 10 financial institutions, including Etihad Credit Insurance Corporation, Abu Dhabi Export Office, Abu Dhabi Stock Exchange and Maqta Gateway.
Updated: September 12, 2022 8:48 AM
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