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Aerial view of a modern power plant and big industrial facility. Dubai, UAE
Aerial view of a modern power plant and big industrial facility. Dubai, UAE

Envisaging a plethora of networking and collaborating opportunities, the Make it in the Emirates Forum provided the perfect platform for entities looking to enter the UAE market

By Muhammad Ali Bandial

Published: Fri 5 Aug 2022, 3:50 PM

The UAE has established itself as one of the world’s go-to investment destinations and is on the fast track to emerging as a global hub for manufacturing and industry. It offers a solid foundation for business development, with access to major entities’ supply chains, a competent and well-educated workforce, a stable regulatory framework and state-of-the-art infrastructure in an environment conducive to good business.

The country offers an attractive value proposition with a range of competitive advantages as well as the ease of doing business for investors and foreign companies. The UAE is also a reliable supplier of energy and raw materials, has a best-in-class ICT infrastructure, is strategically located with world-class logistics infrastructure and advanced technology capabilities.

Keeping up with this tradition, the Make it in the Emirates Forum recently took place in Abu Dhabi at the ADNOC Business Center on June 21-22. The forum, together with local decision-makers and their representatives, detailed some of the investment opportunities that stem from their potential purchase agreements. The forum highlighted the unique opportunities for international investors and manufacturers to invest in establishing production facilities in the UAE, supported by the great visibility into procurement contracts from some of the largest UAE companies.

The UAE is offering financial incentives and facilities to attract investment in manufacturing as part of the country’s efforts to increase the contribution of the industrial sector to the national economy. The details shared during the investment forum included compelling financing solutions, including advanced technology and equipment financing through Emirates Development Bank (EDB).

Other facilities and incentives provided by the UAE included Golden Visa for investors with 100 per cent foreign business ownership permitted. Export credit insurance is available at competitive rates, enabling companies to export their products internationally with little to no risk, while foreign trade agreements increase access to markets for the UAE products.

The Make it in the Emirates Forum is part of the Ministry of Industry and Advanced Technology’s efforts to collaborate and engage with the global industrial community, investors and experts. Major local and international investors attended the forum, creating an excellent networking platform and helping stakeholders to tap into the UAE’s vibrant industrial ecosystem. With representation from major customers, facilitators, industrial zones, local and international investment partners, the forum offered the perfect stepping stone for entities to expand their industrial footprint in the Gulf region.

The forum brought together the largest industrial companies and enablers from across the UAE to share their procurement plans, significant investment opportunities and how these translate into local manufacturing investment opportunities. These companies prioritise local suppliers and are looking to engage with top-ranking local and international businesses keen to invest in UAE-based manufacturing and production.

For investors, manufacturers and technology providers in sectors including energy, telecoms, aerospace, healthcare and food and beverages, the Make it in the Emirates Forum offers unique access to significant, long-term business opportunities in the UAE.

The forum was hosted by the Ministry of Industry and Advanced Technology (MoIAT) in conjunction with the Abu Dhabi Department of Economic Development (ADDED) and Abu Dhabi National Oil Company (ADNOC). The Make it in the Emirates Forum was held under the theme of ‘Invest, Partner, Grow’, convening more than 1,300 delegates, including 20 speakers from all levels and sectors including industrial investors, national companies, financial institutions and government entities.

The forum aims to empower industrial growth in the UAE, contribute to economic development, and increase supply chain resilience. It also provides a unique opportunity for leading national companies and manufacturers to build partnerships, while promoting the development of existing industries and exploring growth opportunities for future industries.

As a result, 12 of the UAE’s leading companies have identified over 300 products across 11 sectors to be manufactured locally, with a total purchase value of Dh110 billion, which will ultimately contribute Dh6 billion to the GDP annually. The product and service requirements of national companies span 11 sectors, including metals, petrochemicals and chemical products, rubbers and plastics, machinery and equipment, defence, pharmaceuticals, technology and medical equipment, communications, F&B and agricultural technology.

Building on the success of the UAE Industrial Strategy to date, the forum aims to increase on

  • Dh116 billion in UAE industrial exports in 2021
  • Dh150 billion in Industrial sector’s contribution to national GDP in 2021
  • Dh2 billion Industrial financing through EDB to date
  • Dh41.4 billion redirected into the national economy through ICV
  • 220 new factories have gone into service and began production

Leveraging the UAE’s competitive advantages

  • A leadership that supports the industrial sector’s development, looks to the future with a positive outlook, provides and focuses on ensuring stability and a flexible and encouraging environment that achieves the best results
  • Ongoing efforts to enhance ease of doing business and reduce costs
  • Reliable and credible laws and policies that protects investors
  • A commitment to environmental protection and sustainability
  • Financing opportunities, technical support, business incubator
  • Strategic geographic location, export capabilities and comprehensive strategic partnerships
  • Business environment that supports investors and entrepreneurs
  • Reliable access to raw materials as well as traditional and renewable energy
  • Advanced regulatory framework that attracts foreign investments
  • Highly qualified and skilled workforce
  • World-class integrated transportation and logistics infrastructure
  • Excellent quality of life in a diverse, tolerant and safe society
  • World-class communication and information technology infrastructure

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