The UAE has reinforced its commitment to boost the national industrial sector, revealing a plan to allocate an additional Dh10 billion in offtake agreements. The announcement enhances the previous procurement opportunities valued at Dh110 billion, bringing the total value of products targeted for localization to Dh120 billion.
Highlighting Past Achievements
Dr. Sultan bin Ahmed Al Jaber, the Minister of Industry and Advanced Technology, drew attention to the success of last year’s forum. He noted that national companies had pledged to invest Dh110 billion over a decade to purchase 300 products from local manufacturers, with 28% of these offtake agreements already in action, representing Dh31 billion.
Industrial Projects and Initiatives
Al Jaber also announced more than 30 new industrial projects valued over Dh6 billion. Among these is the establishment of the UAE’s first hydrogen electrolyzer plant, a significant step towards sustainability.
ADNOC’s Commitment
During the forum, ADNOC’s chief disclosed that the oil giant plans to spend over Dh20 billion to procure structures and metal products from national companies, contributing to the country’s localization strategy.
Creating Sustainable Jobs
The minister announced the creation of 5,000 sustainable job opportunities for UAE nationals in the industrial sector. This will be facilitated through the Industrialist Program, a joint effort by Nafis and the Ministry of Human Resources & Emiratization, aimed at improving employment prospects for the local workforce.
News Summary:
- The UAE has unveiled a new plan to bolster its industrial sector, adding Dh10 billion in offtake agreements to the previous Dh110 billion of procurement opportunities.
- Dr. Sultan bin Ahmed Al Jaber highlighted the success of the previous year’s forum, with 28% of the agreed upon Dh110 billion offtake agreements already implemented.
- More than 30 industrial projects worth over Dh6 billion were announced, including the UAE’s first hydrogen electrolyzer plant.
- ADNOC plans to invest over Dh20 billion to purchase structures and metal products from national companies.
- The Industrialist Program, supported by Nafis and the Ministry of Human Resources & Emiratization, will create 5,000 sustainable job opportunities for UAE nationals.
