The Industrial City of Abu Dhabi (ICAD), the largest operator of economic zones in the UAE dedicated to industrial processes, plays a vital role in providing investors and manufacturers with growth opportunities and helps them to attract foreign capital, said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, during his visit to the 40 square kilometres facility.
The visit on Saturday formed part of the Ministry of Industry and Advanced Technology’s efforts to maintain direct ties with its partners in the industrial sector. It follows the ministry’s recent visits to industrial sites across the UAE, emphasising its role in enhancing the sector.
ICAD’s “advanced infrastructure, integrated solutions and the distinct capabilities” help manufacturers, companies and investors in Abu Dhabi to “support the growth of local industries and attracts foreign capital”, Dr Al Jaber said in a statement.
During his visit, the minister inaugurated a new production line for the Ajmal Steel Pipes Industry Company and was also briefed on the efforts of Emirates Steel, the largest listed steel and building materials company in the country and one of ICAD’s largest tenants.
He also visited Gulf Fluor, which plays a major role in meeting the growing demand for aluminium fluoride in the region, the MoIAT statement said.
The UAE, the Arab world’s second-largest economy, plans to increase the contribution of the industrial sector to its gross domestic product in the next 10 years to create jobs and attract investment.
Last year, the UAE announced Operation 300bn, which aims to more than double the contribution of the industrial sector to economic output to Dh300 billion ($81.68bn) by 2031, from Dh133bn in March 2021.
Foreign direct investment is key plank of the strategy along with dedicated financing and in-country value programme that will direct spending towards local products and suppliers. Overall, Operation 300bn aims to support 13,500 small and medium enterprises in the next decade.
The ideas and operations of leading companies can assist the ministry’s efforts to raise the industrial sector’s contribution to the national economy, and enhance the UAE’s global position as a destination for investment, it said.
“We … aim to establish a stimulating ecosystem for small and medium enterprises, and work to develop procedures and incentives related to the industrial sector,” Dr Al Jaber said.
Last week, the minister visited electronic waste company Enviroserve and the Unilever factory, both located in Dubai Industrial City, as part of the MoIAT’s efforts to maintain direct communication with companies, follow up on innovative projects and to foster an environment that contributes to improving the sector’s success.
On April 10, Dr Al Jaber also visited the Jebel Ali headquarters of Gulf Extrusions, the largest aluminium extrusion plant in the Middle East, to discuss ways to provide additional facilities for projects that support the UAE's strategic plans and strengthen its industrial sector.
During his visit to the ICAD at the weekend, Dr Al Jaber said the free zone, which includes warehouses, logistics centres, and quick access to ports and airports, reflects the position of the UAE as an “advanced incubator for the most important and promising industrial projects in the region”.
The “highly efficient production lines and quality products capable of competing globally — confirms that the UAE is on the road to making the industrial sector one of the largest contributors to a sustainable knowledge-based economy supported by innovation and advanced technology”, the minister said.
“The ministry is also working on providing financing solutions and incentives and promoting the adoption of innovation and Fourth Industrial Revolution technology to enhance the country’s reputation and position as a leading global hub for future industries,” he said.
Dr Al Jaber was accompanied by Mohamed Al Shorafa, chairman of Abu Dhabi Department of Economic Development, Omar Al Suwaidi, undersecretary of the MoIAT, Capt Mohamed Al Shamsi, managing director and group chief executive of Abu Dhabi Ports, among others.
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