Business
Logo
 

Abu Dhabi launches golden list of industrial products

Staff Reporter/Abu Dhabi
Filed on October 13, 2021

Companies are encouraged to purchase products from the golden list of projects offered by the government.

A total of 231 local products produced by 62 factories in Abu Dhabi have been included in the new ‘golden list’ launched by the emirate’s Department of Economic Development (Added).

This golden list of industrial products — which Added introduced in collaboration with the Department of Government Support — is part of the Industrial Development Bureau's (IDB) Abu Dhabi Local Content Programme (ADLC).

Companies and establishments with In-Country Value (ICV) certification are encouraged to purchase products from the golden list of projects and bids offered by the government.

ALSO READ:

Abu Dhabi launches Dh5b IPO fund to support SMEs

New coding school opens up in Abu Dhabi

Abu Dhabi government slashes fees for economic activities

Rashed Abdulkarim Al Blooshi, undersecretary of Added, said the project is an important initiative to reinforce the contribution of the industrial sector in the GDP of Abu Dhabi.

It supports the ICV certification by encouraging contractors to purchase golden-list products in the government bids. This shall, in turn, enhance the versatility of various supply chains in the emirate, thus improving the sustainability of the economy, he said.

The implementation of this project is an integral part of Circular No. 3/2020 issued by the Abu Dhabi Executive Council, regarding the application of the ADLC programme for all government procurements.

The IDB has identified the local products for the initial list of the initiative.

Al Blooshi added that the Abu Dhabi government has propelled development projects in various economic sectors from 2018 to 2020, thus providing basis for enhanced efficiency and competitiveness of the private sector within the emirate.

Directing government spending and motivating the companies to invest in the ICV criteria through inclusion of the ICV score in the bid evaluation criteria will have a tremendous economic impact, he said.

The ADLC programme, launched by the IDB, requires bidders compete on a weighted evaluation approach that combines both the ICV and financial elements with 40 per cent and 60 per cent weighting, respectively. These make up the overall commercial evaluation score.

This approach, Al Blooshi added, shall encourage companies in achieving a balance between financial efficiency and local content in their proposals.

“We expect that this approach will provide an attractive enabler that has a positive effect on the quality of life that paves the way for a sustainable economic growth the various economic sectors in the emirate,” he said.

Al Blooshi added that the IDB is working with all Abu Dhabi government and semi-government partners to incorporate the products of the golden list into the tendering requirements, thus driving suppliers’ commitment throughout the contractual period.

Mohammed Munif Al Mansouri, executive director of the IDB, said the golden-list project also motivates local factories, especially those with ICV exceeding 40 per cent, to register their products in the golden list.





ERROR: Macro /ads/dfp-ad-article-new is missing!
MORE FROM Business
MORE FROM Khaleej Times
CurrentRequestUnmodified: /business/investcorp-invests-in-xpressbees macro_action: article, macro_profile: ,1036,1000 macro_adspot:
 
 
 
 
 
KT App Download
khaleejtimes app

All new KT app
is available
for download:

khaleejtimes - android khaleejtimes - ios khaleejtimes - HUAWEI AppGallery