{"id":13785,"date":"2023-06-01T11:39:55","date_gmt":"2023-06-01T11:39:55","guid":{"rendered":"https:\/\/theblogonline.com\/?p=13785"},"modified":"2023-06-01T11:39:55","modified_gmt":"2023-06-01T11:39:55","slug":"uae-pledges-additional-2-7bn-in-industry-off-take-agreements-invites-global-investors-to-leverage-incentives","status":"publish","type":"post","link":"https:\/\/theblogonline.com\/?p=13785","title":{"rendered":"UAE Pledges Additional $2.7bn In Industry Off Take Agreements, Invites Global Investors To Leverage Incentives"},"content":{"rendered":"

His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, to<\/span><\/span>day<\/span><\/span> announced $2.7 billion <\/span><\/span>in<\/span><\/span>\u00a0off take agreements <\/span><\/span>for<\/span><\/span> the UAE\u2019s industrial <\/span><\/span>sector<\/span><\/span> in a move to boost local manufacturing<\/span><\/span>, strengthen supply chains<\/span><\/span> and attract international investors.<\/span><\/span><\/p>\n

Addressing the second Make it in the Emirates Forum<\/span><\/span>, <\/span><\/span>HE Dr. Al Jaber said the new set of <\/span><\/span>procurement opportunities <\/span><\/span>would build on <\/span><\/span>the previous forum\u2019s offtake<\/span><\/span> agreement<\/span><\/span>s.<\/span><\/span><\/p>\n

\u201c<\/span><\/span>One of the key achievements of last year\u2019s forum was several leading national companies announcing their intention to invest <\/span><\/span>$29.9 billion<\/span><\/span>over the next decade to purchase 300 products from local manufacturers,\u201d HE Dr. Al Jaber said.<\/span><\/span><\/a><\/p>\n

\u201cI am pleased to share with you that in the first year alone, 28 percent of these offtake agreements have been implemented, representing a total value of $8.4 billion.\u201d<\/span><\/span><\/p>\n

HE Dr. Al Jaber <\/span><\/span>also announced <\/span><\/span>plans for <\/span><\/span>more than 30 <\/span><\/span>new<\/span><\/span> industrial projects<\/span><\/span>, representing<\/span><\/span> more than <\/span><\/span>$1.6<\/span><\/span> billion of investments. <\/span><\/span><\/p>\n

\u201cThese projects include pioneering initiatives such as setting up the first hydrogen electrolyzer plant in the U<\/span><\/span>AE<\/span><\/span>,<\/span><\/span>\u201d he said.<\/span><\/span><\/p>\n

$1.63 billion of financing solutions for the industrial sector were also announced along with 5<\/span><\/span>,0<\/span><\/span>00 jobs for UAE nationals in industry<\/span><\/span> through the Industrialist Program<\/span><\/span>.<\/span><\/span><\/p>\n

HE Dr. Al Jaber added: \u201c<\/span><\/span>I invite all attendees and participants to explore through this forum the incentives and enablers provided by various economic development departments, industrial and special zones, financing institutions, and national companies<\/span><\/span>.\u201d<\/span><\/span><\/p>\n

The UAE\u2019s industrial exports reache<\/span><\/span>d $47.6 billion<\/span><\/span> in 2022, <\/span><\/span>growing<\/span><\/span> 49<\/span><\/span>percent<\/span><\/span> compared to<\/span><\/span> 2021.<\/span><\/span> The industrial sector’s contribution to GDP <\/span><\/span>rose to $49.5 billion in 2022, a 38 percent increase on 2020.<\/span><\/span><\/p>\n

The Make it in the Emirates Forum is organized by the Ministry of Industry and Advanced Technology in partnership the Abu Dhabi Department of Economic Development (ADDED) and ADNOC. <\/span><\/span><\/p>\n

Twitter: @moiatuae<\/span><\/span><\/p>\n

Instagram: @moiatuae<\/span><\/span><\/p>\n

 <\/p>\n

Source: <\/span><\/span>AETOSWire<\/span><\/span><\/a><\/p>\n

 <\/p>\n

For more information:<\/span><\/span><\/p>\n

Tasnim Hijazi<\/span><\/span><\/p>\n

APCO Worldwide<\/span><\/span><\/p>\n

0097152160<\/span><\/span>7687<\/span><\/span><\/p>\n

thijazi@apcoworldwide.com<\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, today announced $2.7 billion in offtake agreements for the UAE\u2019s industrial sector in a move to boost local manufacturing, strengthen supply chains and attract international investors.<\/p>\n","protected":false},"author":1,"featured_media":13786,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2456],"tags":[7064,1246],"class_list":["post-13785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-global-investors","tag-uae"],"_links":{"self":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13785"}],"collection":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13785"}],"version-history":[{"count":1,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13785\/revisions"}],"predecessor-version":[{"id":13787,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13785\/revisions\/13787"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/media\/13786"}],"wp:attachment":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}