MoIAT invites global investment in key sectors ahead of the second “Make it in the Emirates” forum
His Excellency Omar Al Suwaidi, Undersecretary of the Ministry of Industry & Advanced Technology (MoIAT) called for participation from global investors during the recent global Annual Investment Meeting (AIM) 2023 in Abu Dhabi.
HE Al Suwaidi stressed the need for more investment in sectors such as renewable energy and climate technology. “The UAE’s technological development, industrial digitalization, and net zero efforts are giving rise to huge investment opportunities, which we are pleased to share with you through the Make it in the Emirates campaign.”
So far, MoIAT has collaborated with various local and international financial institutions to provide financial incentives. Together, Emirates Development Bank and Etihad Credit Insurance provided AED 4.4 billion in financing solutions to empower industrial companies in 2022, including almost AED 700 million to help companies obtain advanced technology solutions.
“At the heart of these opportunities is a unique value proposition. It is comprised of free trade agreements, a highly skilled workforce, a strategic geographical location, world-class sustainable industrial infrastructure, and much more, including various incentives and enablers. MoIAT is working alongside strategic partners to offer these incentives as part of our efforts to create a dynamic, diverse, and welcoming environment for companies and individuals to flourish.”
In a statement issued by the Ministry, the “Make it in the Emirates” program continues to build momentum, attracting interest from around the world and driving the growth of national industries. In 2022, the industrial sector contributed over AED 180 billion to GDP, with industrial exports reaching AED 174 billion. To ensure the industrial sector develops sustainably, MoIAT is driving various initiatives to support decarbonization, encourage 4IR adoption, promote green standards and reduce waste. This commitment supports the UAE Net Zero by 2050 Strategic Initiative as well as our efforts to enhance the competitiveness of national industries.
The second Make it in the Emirates Forum takes place from 31 May to 1 June and aims to build on the success of the inaugural forum in 2022, which was attended by 1,800 stakeholders, including investors from around the world. The forum resulted in agreements worth AED 110 billion with national enterprises committing to purchase more than 300 products from local suppliers to support their future growth plans.
The 2023 Make it in the Emirates forum will act as a platform to provide promising tech-driven, sustainability-focused companies with a stage at one of the region’s largest and most attended industrial investment events to pitch, learn and connect.