Saturday 10 June 2023 - 3:06:13 pm

Abu Dhabi’s industrial sector continues to perform key role: ADDED Chairman

ABU DHABI, 30th June, 2022 (WAM) -- Mohamed Ali Al Shorafa Al Hammadi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said the emirate’s industrial sector is continuing to perform its key role, contributing some AED83.5 billion to the emirate’s GDP in 2021.

He made this statement during the launch of Abu Dhabi’s new industrial strategy, which was attended by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Abdullah bin Touq Al Marri, Minister of Economy, Sheikh Abdullah bin Mohammed Al Hamed, Chairman of the Department of Health-Abu Dhabi, Abdullah Al Hamli, Head of the Economic Cities and Free Zones Sector-Abu Dhabi Ports Group, and several officials.

In his statement to the Emirates News Agency (WAM), Al Hammadi said that industrial financing requires the establishment of new frameworks, noting that a new industrial financing entity will soon be established in the emirate to finance large industries and small and medium-sized enterprises (SME).

There are new initiatives aimed at attracting industrial investments to Abu Dhabi, including reducing electricity, water and gas tariffs, as well as industrial lands prices, he further added, highlighting the launch of the "Abu Dhabi Partners Initiative," which aims to attract local and international partners in key industrial sectors.

The industrial sector is a key contributor to the national economy, amidst the current efforts to attract advanced and technological industries, he further said, while pointing out that Abu Dhabi’s manufacturing sector has witnessed significant growth over the past years, with more than 850 industrial establishments being based in the emirate, in addition to seven operators of industrial zones that facilitate business and prosperity.

Al Hammadi explained that within a year, the UAE has advanced five places to rank 30th globally in a report by the Competitive Industrial Performance Index issued by the United Nations Industrial Development Organisation (UNIDO) in 2021, which evaluates industrial performance in 152 countries.

WAM/Tariq alfaham