Abu Dhabi (Special Report)
Abu Dhabi Chairman of the Economic Development Department Abu Ali Al-Sharifah Al-Hamadi has announced that Abu Dhabi will launch a new industrial strategy in two weeks, which will include four strategic pillars.
In a statement to the Emirates News Agency (WAM) on the sidelines of the “Make it in the Emirates” forum in Abu Dhabi, Al-Hamadi said that the leadership’s vision and guidance include benefiting from the achievements of the country’s industrial sector. Abu Dhabi’s industrial sector is the second-largest contributor to the UAE’s GDP, valued at 85 billion dirhams in 2021.
He said the forum would highlight the sector’s incentives, including all its competitive advantages and the flexible legislation infrastructure that has attracted investors from around the world to the UAE. He said that Abu Dhabi offers various assistance programs for the sector such as reduction of electricity tariffs and allocation of industrial lands and increasing the competitiveness of the UAE.
Sameh Al-Qubaisi, director general of economic affairs in the department, said the UAE’s industrial sector offers many financial incentives, including a reduction in electricity tariffs by 20 per kWh and the launch of a new package of incentives. He said that the new financial plan includes a further reduction in electricity tariffs and the price of industrial land as well as many other important concessions.
The department, in collaboration with local authorities and strategic partners, has successfully reduced the number of licensing requirements from 26,000 to 6,000. He said that 111 factories are registered in Golden List which manufactures 602 products. These are all part of the procurement from the government and parastatals.
