"ADNOC" It cooperates with local and federal entities to enhance the capabilities of the local manufacturing sector

ABU DHABI, 5 December / WAM / During the activities of Abu Dhabi Business Week, ADNOC signed a strategic cooperation agreement with the Ministry of Industry and Advanced Technology, the Department of Economic Development in Abu Dhabi, the Abu Dhabi Investment Office, and the Abu Dhabi Chamber of Commerce and Industry, aiming to enhance the capabilities of the sector. Local manufacturing.

The signing of the agreement was witnessed by His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, Managing Director and CEO of ADNOC and its group of companies, and His Excellency Ahmed Jassim Al Zaabi, Chairman of the Department of Economic Development in Abu Dhabi, and Chairman of the Board of Directors of the Abu Dhabi Chamber.

The agreement is based on the success of the ADNOC program to enhance national content in driving industrial growth, enhancing economic diversification, and contributing to strengthening and expanding local manufacturing capabilities.

The agreement aims to enhance the growth and development of the industrial system in the UAE and explore more opportunities to support local manufacturers by taking advantage of the main incentives provided by the agreement, with a focus on compatibility with national strategic objectives and enhancing compliance with UAE regulations.

The agreement mainly focuses on enabling small and medium-sized companies to grow and develop by integrating them into the supply chain of ADNOC operations, enhancing innovation, supporting their competitive capabilities, and contributing to achieving the economic diversification goals of the UAE.

The agreement was signed by His Excellency Omar Suwayna Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, His Excellency Shams Ali Khalfan Al Dhaheri, Second Vice President of the Abu Dhabi Chamber of Commerce and Industry, His Excellency Badr Salim Sultan Al Olama, Director General of the Abu Dhabi Investment Office, and Yasser Al Mazrouei, CEO of the Human Resources and Support Department. Institutional and commercial at ADNOC.

The Undersecretary of the Ministry of Industry and Advanced Technology stressed that this strategic cooperation embodies the state’s keenness to achieve our national goals for sustainable economic development, and is also consistent with the plans and programs of the national strategy for industry and advanced technology “Project 300 Billion” to enhance the flexibility and sustainability of supply chains and achieve self-sufficiency with high-quality national products. Enhancing the role of industrial and service companies by providing innovative and supportive incentives for growth that contribute to reducing dependence on imports, increasing national content, and enhancing the competitiveness of national industries.

He added that the cooperation between the Ministry, the Abu Dhabi Chamber of Commerce and Industry, ADNOC, and the Abu Dhabi Investment Office reflects a joint commitment to supporting the industrial sector and developing an attractive investment environment, stressing that the Ministry will continue efforts to explore opportunities available to support manufacturers in the country to meet ADNOC’s requirements in the field of procurement, and provide all means of support for this cooperation. The strategy will contribute to creating new investment opportunities and enhancing industrial integration, especially in vital areas such as energy.

His Excellency Shams Ali Al Dhaheri, Second Vice President of the Abu Dhabi Chamber of Commerce and Industry, said: “This agreement strengthens the partnership between key parties in order to accelerate the efforts of supply chains and supply and consolidate the flexibility of the industrial sector,” as the efforts of the Abu Dhabi Chamber, as the voice of the private sector, are consistent with the UAE’s industrial strategy “Project 300 billion” and the Abu Dhabi Industrial Strategy, which focuses on supporting small and medium-sized companies, increasing localization rates, employing modern technologies, and increasing non-industrial exports through the local value certificate and industrial strategy programs related to the local product and supply chains.

His Excellency Badr Salim Sultan Al Olama, Director General of the Abu Dhabi Investment Office, said: This agreement confirms the importance of cooperation between all parties in Abu Dhabi to advance industrial growth and economic diversification in the emirate. We are working by unifying efforts with ADNOC and the Abu Dhabi Chamber of Commerce and Industry to create a unified platform to enable local industrial companies and companies. Small and medium sized enterprises and ensure that they receive the resources, support and opportunities necessary to achieve growth and prosperity.

For his part, Yasser Al Mazrouei, CEO of the Human Resources, Institutional and Commercial Support Department at ADNOC, said that this agreement reflects ADNOC’s commitment to enhancing the capabilities of the industrial sector in the UAE and supporting local supply chains by building on the success achieved by its program to enhance national content. We aim to Through cooperation with local and federal authorities in the country to build a more flexible and competitive local industrial system that contributes to supporting the capabilities of the industrial sector in the UAE.

It is worth noting that ADNOC recently announced its goal to redirect an amount of 200 billion dirhams ($54.5 billion) to the local economy during the next five years through its program to enhance national content, based on the amount of 55 billion dirhams ($15 billion) that it succeeded in achieving. The company will redirect it to the local economy in 2024, through its programme.

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