Abu Dhabi National Oil Company signed agreements with Mubadala Investment Company and Emirates Nuclear Energy Corporation to drive more in-country value into the UAE’s economy.
The companies “explore potential opportunities for collaboration in creating additional skilled employment opportunities for Emiratis in the private sector and sourcing goods and services within the UAE,” they said in a statement on Sunday.
The state oil company, along with Mubadala and Enec, will explore opportunities to localise critical parts of their value chain, especially as they respond to the pandemic.
"The agreements will enable Adnoc and both companies [to] collaborate to further drive the localisation of goods and services across our value chains and we look forward to swiftly progressing the agreements as they offer significant potential to maximise value for the UAE,” Rashed Al Shamsi, director, commercial directorate at Adnoc, said.
National oil companies in the region such as Saudi Aramco have made in-country value generation a key driver to stimulate private sector growth and boost local job creation. Saudi Aramco through its 'In-Kingdom Total Value Add initiative' or IKTVA looks to increase local production and aims to meet at least 70 per cent of its procurement spending from Saudi Arabia's companies by 2021.
Adnoc started its in-country value programme in 2018, spending about Dh18 billion to ensure that local suppliers and companies are engaged across its value chain to boost the domestic economy.
Adnoc said its programme has driven more than Dh44bn back into the UAE economy, creating more than 1,500 private sector jobs for Emiratis.
Enec, which connected its reactor to the grid earlier this year, has engaged 2,000 local companies that have been awarded contracts worth Dh17.5bn so far.
Adnoc has certified more than 4,000 suppliers across various sectors such as oil and gas, construction, food and hospitality as part of its in-country value programme.
"The in-country value programme has been shown to significantly contribute to the economic development of the UAE, while simultaneously creating jobs for Emiratis within the private sector,” said Haifa Al Maskari, Mubadala’s director of business services.
Last year, Adnoc extended its in-country value programme through partnerships with the likes of oil services firm Schlumberger and real estate developer Aldar.
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Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
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The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
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7pm Gates open
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10pm City players on stage
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Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
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The Bio
Favourite holiday destination: Either Kazakhstan or Montenegro. I’ve been involved in events in both countries and they are just stunning.
Favourite book: I am a huge of Robin Cook’s medical thrillers, which I suppose is quite apt right now. My mother introduced me to them back home in New Zealand.
Favourite film or television programme: Forrest Gump is my favourite film, that’s never been up for debate. I love watching repeats of Mash as well.
Inspiration: My late father moulded me into the man I am today. I would also say disappointment and sadness are great motivators. There are times when events have brought me to my knees but it has also made me determined not to let them get the better of me.
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Ziina users can donate to relief efforts in Beirut
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The biog
Hometown: Cairo
Age: 37
Favourite TV series: The Handmaid’s Tale, Black Mirror
Favourite anime series: Death Note, One Piece and Hellsing
Favourite book: Designing Brand Identity, Fifth Edition
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SHAITTAN
A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
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