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Adnoc partners with local and federal entities to boost local manufacturing capabilities

Agreement builds on Adnoc’s successful ICV programme

Published: Wed 11 Dec 2024, 5:02 PM

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The signing of the agreement was witnessed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Adnoc Managing Director and GCEO, and Ahmed Jasim Al Zaabi, Chairman of ADDED and ADDCI. The signatories were Omar Suwaina AlSuwaidi, Undersecretary, MoIAT, Badr Al-Olama, Director General of ADIO, Shamis Ali Al Dhaheri, the Second Vice Chairman of ADDCI and Yaser Saeed Almazrouei, ADNOC Executive Director, People, Commercial and Corporate Support. — Supplied photo

The signing of the agreement was witnessed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Adnoc Managing Director and GCEO, and Ahmed Jasim Al Zaabi, Chairman of ADDED and ADDCI. The signatories were Omar Suwaina AlSuwaidi, Undersecretary, MoIAT, Badr Al-Olama, Director General of ADIO, Shamis Ali Al Dhaheri, the Second Vice Chairman of ADDCI and Yaser Saeed Almazrouei, ADNOC Executive Director, People, Commercial and Corporate Support. — Supplied photo

Adnoc has signed a strategic collaboration agreement (SCA) with the Ministry of Industry and Advanced Technology (MoIAT), Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi Investment Office (ADIO), and Abu Dhabi Chamber of Commerce and Industry (ADDCI), aimed at boosting local manufacturing capabilities.

The SCA, which was signed at Abu Dhabi Business Week, builds on Adnoc’s successful In-Country Value (ICV) programme, which is driving industrial growth and diversification while strengthening the UAE’s manufacturing capacity. It is designed to strengthen the UAE’s industrial ecosystem and explore opportunities to support local manufacturers by leveraging key incentives, ensuring alignment with national strategic objectives, and fostering compliance with UAE regulations.

A core focus of the agreement is empowering small and medium-sized enterprises (SMEs) by integrating them into Adnoc’s supply chain, fostering innovation, enhancing competitiveness, and contributing to the UAE’s broader economic diversification goals.

Omar Al Suwaidi, Undersecretary of MoIAT, said: “The programme is in line with the National Strategy for Industry and Advanced Technology, Operation 300bn, to make supply chains more sustainable and achieve self-sufficiency in critical areas. At the same time, the initiative helps businesses to grow by providing incentives and enablers, ultimately enhancing the competitiveness of national products and reducing the country’s dependency on imports.

“This cooperation will ultimately create new investment opportunities while enhancing supply chains in vital areas such as energy. The ministry remains focused on promoting the adoption of advanced technology, encouraging innovation, supporting SMEs to grow, and increasing national productivity through introducing incentives and enablers.”

Shamis Ali Al Dhaheri, vice-chairman of ADCCI, said: “This agreement further strengthens the partnership between entities that have a distinctive impact on the industrial growth to accelerate efforts aimed at enhancing the supply chain and industrial sector resilience. As the voice of the private sector, ADCCI’s efforts are aligned with the achieving the objectives of ‘Operation 300bn’, the UAE’s industrial strategy and the Abu Dhabi Industrial Strategy (ADIS), which focuses on supporting SMEs, Emiratization, employing advanced technologies, and increasing non-oil exports by capitalizing on ICV and other programs on locally manufactured goods and supply chains.”

Badr Al Olama, Director General of ADIO, said: “This MoU reflects the power of collaboration in driving Abu Dhabi’s industrial growth and economic diversification. By joining forces with Adnoc and ADCCI, we are creating a unified platform to empower local manufacturers and SMEs, ensuring they have the resources, support, and opportunities to thrive. Together, we are paving the way for a stronger, more innovative, and globally competitive industrial ecosystem.”

Yaser Saeed Almazrouei, Adnoc Executive Director, People, Commercial and Corporate Support, said: “This agreement reflects Adnoc’s commitment to enhancing the UAE’s industrial capabilities and strengthening local supply chains, building on the success of our In-Country Value programme. By collaborating with key UAE government entities, we will build a more resilient and competitive industrial ecosystem that boosts the UAE’s manufacturing capabilities.”

The agreement reflects a UAE-wide effort to strengthen the industrial ecosystem by exploring opportunities to empower local manufacturers, improve competitiveness, and enable SMEs to thrive. Recently, Adnoc announced its target to drive Dh200 billion ($54.5 billion) into the UAE economy over the next 5 years, building on the Dh55 billion ($15 billion) delivered this year through its ICV programme.



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