The Abu Dhabi Economic Media Club hosted representatives of the Abu Dhabi Department of Economic Development's (ADDED) Industrial Development Bureau (IDB) and Abu Dhabi Investment Office (ADIO) for a special media briefing to discuss the 'Basic Industries Project,' an initiative aimed towards achieving self-sufficiency in the emirate while also ensuring the availability of major consumables.
The Abu Dhabi Economic Media Club hosted representatives of the Abu Dhabi Department of Economic Development's (ADDED) Industrial Development Bureau (IDB) and Abu Dhabi Investment Office (ADIO) for a special media briefing to discuss the 'Basic Industries Project,' an initiative aimed towards achieving self-sufficiency in the emirate while also ensuring the availability of major consumables.
The virtual event highlighted the department's focus on developing and enhancing existing investment fields, including the establishment of new investment undertakings among the four top industrial segments identified under the project, which includes food, medical, power generationas well as other key industrial sectors such as iron, aluminium and cement industries.
The media briefing witnessed the participation of senior officials from the IDB, which included Nabil Al Awlaqi, Director of Health and Safety Department, Khalid Mubarak Banizama, Industrial Development Department Director and Mohammed Al Hosani, Domestic Investment Director.
The event highlighted new investment fields across the medical industry, comprising of manufacturers of ventilator and suction machines, tubes, endoscopes, vital signs monitoring devices and related equipment. New investments in the manufacturing of medical refrigerators (-20- to -80 ° C); laboratory and testing equipment; and other surgical equipment and tools, were also featured.
New investment areas in the food industry were also revealed at the event, including food preservation projects using air extraction; the carmon industry, a material dealing with palm weevil; dates manufacturing (bread yeast industry);projects for drying fruits, vegetables, and meat; protein production; seed production and processing; and food leftovers being manufactured into animal food.
During the briefing, the IDB stated that new investment areas supporting the power generation sector include the electronic systems industry to monitor water and electricity consumption, the manufacturing of solar panels and batteries involved in the production of clean electric energy, manufacturing of water pumps of various sizes, the manufacturing of spare parts for the production of electric power and water, and the manufacturing of electronic monitoring devices for power stations.
Nabil Al Awlaki, Project Manager, shared that the 'Basic Industries Project' represents an important pillar in the move to create an integrated and advanced industrial base, which helps in the economic diversification process and the move to achieve self-sufficiency in Abu Dhabi. The efforts also fall in line with the directives of the emirate's wise leadership. Al Awlaki further pointed out that the development of food, medical and support industries, along with the aluminium, iron and cement industries, represent a giant leap towards the fulfilment of ADDED's vision to stimulate local production and enhance the competitiveness of the economic ecosystem, which in turn, enhances the emirate's leading position as a global destination for investment, living and doing business.
"The project, which is being implemented by ADDED in cooperation with its strategic partners from various government entities, such as the Department of Health, Abu Dhabi Agriculture and Food Safety Authority and the Department of Energy, play a key role in moving towards achieving food security and self-sufficiency in medicine, energy and other vital industries. This project is particularly based on developing new and innovative mechanisms to develop existing and new industries to provide the local market with competitive and high-quality national products that support the objective of Abu Dhabi Economic Vision 2030 to create a sustainable economy that ensures prosperity and maintains the well-being of the local community," Al Awlaki added.
"As part of this project, the IDB limited eight new investment fields to the food sector on top of the nine investment areas across existing industries that were planned to be developed; 14 pharmaceutical and medical supplies industries on top of the nine investment areas in existing industries to be developed; five new investment fields to the supporting power generation industries on top of the seven investment areas in existing industries that are to be improved,” Al Awlaki shared.
Al Awlaki further highlighted Abu Dhabi government’s intentions to enhance cooperation and coordination with the strategic partners in the aim to support the department’s efforts to achieve the project’s objectives, which are key drivers in the move to enhance investments across vital industries that are identified as key boosters to the national economy. The project further serves as a key pillar to enhance the emirate’s competitiveness and strengthen its position on the regional and global investment map.
Meanwhile, Al Awlaki revealed that the number of food industries in the emirate have reached 69--comprising of 39 industrial licenses with a total investment value of AED3.4 billion; 23 licenses in Al Ain worth over AED 2 billion and seven licenses in Al Dhafra worth over AED 481 million.
“As per the medical industries, Al Awlaki added that it totaled 13 licenses, nine of which are in Abu Dhabi with a total investment value of AED 561 million and four in Al Ain with an investment value amounting to AED 162 million. With regards to the supporting industries, the segment is comprised of 33 licenses--25 of which are in Abu Dhabi with a total investment value of AED 4 billion, seven in Al Ain with an investment value of AED 346 million and one license in Al Dhafra region with investments worth AED 5 million.
For his part, Khalid Mubarak Banizama, Industrial Development Department Director, explained that the emirate's investment environment is appropriate and perfect for the creation of industrial projects that support self-sufficiency, especially those in line with the implementation of the programs and stimulus packages supporting manufacturing industries in Abu Dhabi.
Banizama further highlighted the most prominent initiatives and programs, that were implemented by IDB to stimulate and support companies operating in Abu Dhabi such as the Abu Dhabi Local Content program, the Electricity Tariff Incentive Program (ETIP), resolution of adding new commercial activities under industrial licenses, industrial licenses’ fees exemption, customs exemption law and the foreign ownership law.
Mohammed Al Hosani, Domestic Investment Director, ADIO, lauded the 'Basic Industries Project' implemented by IDB and emphasized on its pivotal role to enhance Abu Dhabi's position as an ideal business and investment hub for the region and the rest of the world.
Al Hosani affirmed ADIO’s keenness to support the concerted efforts in implementing this vital project aimed at achieving self-sufficiency and sparing no effort to provide all the necessary requirements to achieve its strategic objectives in attracting new investments to the identified fields under this project. The support, as he points out, is driven by ADIO’s vision to attract innovative companies to invest in the emirate and create investment opportunities as well as creating a flexible and sustainable business environment, based on a unique model in the effective partnership between the public and private sectors, which positions Abu Dhabi as a preferred global destination for investment.
The IDB is responsible for identifying key sectors that will contribute to the achievement of emirate’s self-sufficiency status. Additionally, the bureau is also tasked with forming an integrated team comprising representatives from the project’s stakeholders and board. The team is expected to take the lead in maintaining communication ties with strategic partners and related industrial establishments; studying and identifying current obstacles and challenges; and coming up with recommendations and suggestions related to investment.
Moreover, the role of the project’s strategic partners is to determine the value of the local consumption of basic commodities while also identifying the challenges and obstacles that their respective sectors are facing. They are also tasked to analyze existing gaps and identify investment opportunities in target industries to achieve local self-sufficiency.