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UAE: SMEs incentive programme, smart manufacturing competence centre launched
Abu Dhabi is investing Dh10 billion across these programmes to more than double the size of its manufacturing sector to Dh172 billion
Photo: AP file
The region’s first-of-its-kind Smart Manufacturing Competence Centre (SMCC) and an incentive programme for small and medium sized enterprises (SMEs) have been launched during the Make it in the Emirates forum held in Abu Dhabi.
The Abu Dhabi Department of Economic Development (ADDED) made the announcements which are aimed to facilitate transition to smart manufacturing and industry 4.0. The initiatives come as part of the 34 initiatives mapped out by ADDED’s Industrial Development Bureau (IDB) to achieve the objectives of Abu Dhabi Industrial Strategy.
The smart centre will act as a catalyst for local and global industrial stakeholders to establish an innovative and sustainable ecosystem. Expected to commence operations in the first quarter of 2024, it will act as a one-stop-shop, focusing on industry 4.0 technologies to help manufacturers in their digitisation journey. Meanwhile, the smart programme seeks to transform 30 per cent of existing industrial SMEs to industry 4.0 methods in five years. The programme is supported by a Dh500 million fund, to drive productivity, technology adoption and increase Abu Dhabi’s global competitiveness. It will be implemented in collaboration with Khalifa Fund for Enterprise Development. It will enable successful implementation of six transformational programmes of Abu Dhabi Industrial Strategy: industry 4.0, circular economy, talent development, ecosystem enablement, homegrown supply chain and value chain development.
Abu Dhabi is investing Dh10 billion across these programmes to more than double the size of its manufacturing sector to Dh172 billion, create 13,600 skilled jobs and increase the emirate’s non-oil exports to Dh178.8 billion by 2031.
“The launch of these two new initiatives is a valuable addition to our efforts to turbocharge the next phase of diversification strategy, as we believe supporting the transition to industry 4.0 will positively contribute to driving innovation, enhancing growth of knowledge-based sectors, and increasing non-oil GDP,” said Ahmed Jasim Al Zaabi, Chairman, ADDED.
Al Zaabi underlined that the launch of the smart programme, which includes a Dh500 million fund, reflects ADDED’s efforts to provide financial support to SMEs manufactures’ transformation towards industry 4.0 applications and create a favourable, enabling investment environment.
“This will ultimately enhance the industrial sector’s competitiveness, support the attraction of domestic and foreign direct investments, and cement Abu Dhabi’s status as a leading industrial powerhouse. We remain committed to empower entrepreneurs and investors to benefit from ample opportunities provided by Abu Dhabi’s robust, resilient, and business-friendly ecosystem, bolstering our efforts to achieve a comprehensive socio-economic development, which places human development, innovation, and sustainability at the top of its priorities.”
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