June 22, 2022
1 min read

Abu Dhabi to launch new industrial strategy

Abu Dhabi will launch a new industrial strategy in two weeks, which will include four strategic pillars, said Mohamed Ali Al Shorafa Al Hammadi, Chairman of the Abu Dhabi Department of Economic Development…reports Asian Lite News

In his statement on the sidelines of the “Make it in the Emirates” Forum held in Abu Dhabi, Al Hammadi said the leadership’s vision and directives include capitalising on the achievements of the country’s industrial sector.

Abu Dhabi’s industrial sector is the second leading sector in terms of contributing to the emirate’s GDP, valued at AED85 billion in 2021, he added, stressing that the forum will highlight the sector’s attractiveness, including all its competitive advantages and flexible legislative infrastructure, which have attracted investors from around the world to the UAE.

Abu Dhabi offers a wide variety of support programmes to the sector, such as reducing electricity tariffs and allocating industrial land, enhancing the emirate’s competitiveness, he further added.

Sameh Al Qubaisi, Director-General of Economic Affairs at the Department, said the emirate’s industrial sector provides many financial incentives, such as reduced electricity tariffs at 20 fils per kilowatt, and will witness the launch of a new package of incentives.

ALSO READ:Abu Dhabi DoH Strikes Deal with J&J

This new financial plan includes further reductions to electricity tariffs and the cost of industrial land, as well as many other important incentives, he said. The department has successfully reduced the number of licensing requirements from 26,000 to 6,000, in cooperation with local authorities and strategic partners.

There are 111 factories registered in the golden list, which produce 602 products, all of which are part of procurement by governmental and semi-governmental entities, he further added.

Previous Story

Afghan earthquake: Death toll crosses 900

Next Story

Yashwant Sinha to be opposition candidate

Latest from -Top News

PM Modi Heads to Accra, Signals South-South Priority

The Prime Minister will then travel to Trinidad & Tobago from July 3-4, a country he said shares “deep-rooted historical, cultural and people-to-people connect” with India…reports Asian Lite News Prime Minister Narendra

White House Focus on India COMPACT

The Secretary affirmed the strength of the US-India relationship, highlighting implementation of the US-India COMPACT…reports Asian Lite News The US-India COMPACT—a comprehensive framework for bilateral cooperation—took centre stage during the meeting between

Trump Warns Musk: ‘Close Shop or Go Home’

Trump’s warning on his Truth Social platform late on Tuesday (US time) came amid the feud between him and Musk over the ‘One Big Beautiful Bill’….reports Asian Lite News Former US President

India-US Trade Deal Likely This Week

The interim trade deal would be an initial step towards a comprehensive bilateral free trade agreement between Indian and the US….reports Asian Lite News India is expected to finalise an interim trade

One Year Later, Hasina’s Son Raises Red Flag

Hasina’s abrupt exit last August after violent student protests was widely seen as a blow to democracy in the Muslim-majority nation of 170 million….reports Asian Lite News Sajeeb Wazed, son of former
Go toTop

Don't Miss

Abu Dhabi to ban single-use plastic bags from June

Abu Dhabi’s ban on the use of single-use plastic bags

UAE national beach soccer team win Asian Championship

The UAE national beach soccer team won the West Asian