Abu Dhabi DED announces new incentives in 4 industrial sectors

Abu Dhabi DED announces new incentives in 4 industrial sectors

23 Jul 2020
Industrial Development Bureau, DED - Abu Dhabi

The Department of Economic Development in Abu Dhabi revealed a set of new incentives and benefits for manufacturers in four main sectors, namely the food, medical, and energy production industries, as well as the iron, cement and aluminum industries, to achieve self-sufficiency in these industries, pointing out that the incentives are conditional on increased purchases.From the local product, and increasing the number of citizens working in these industries.

Conditional Incentives: The Director of the Industrial Development Department in the Department, Khaled Mubarak Bani Zama, said in a briefing yesterday about the basic industries project that the department launched, finally, that these incentives include reducing tariffs of Z3O, electricity at rates, and obtaining industrial licenses exempt from fees, and exemptions Customs, and adding commercial activities to the industrial license.

He stressed that obtaining incentives in these industries is conditional on increasing purchases of local products and increasing the number of citizens working in these industries.

Market study Bani Zama explained that the project was launched, after studying the market and knowing the gaps and actual needs of consumers, pointing out that there is a big gap in some industries, such as medical supplies, and there is also a need to raise the quality of some products. He stressed that there will be large investments in this area.

He pointed out that Abu Dhabi has managed to achieve great and high achievements in the energy, aluminum and iron industries, but complementary industries are needed.

He revealed that the emerging corona virus revealed a great diversity of food, with some deficiencies that are currently being filled through this project, pointing out that the food basket needs a number of new food industries to achieve self-sufficiency and strengthen local supply chains.

Bani Zamah stressed the existence of a solid and strong industrial base in the emirate, noting that the Basic Industries Project targets companies that have the ability to innovate in various fields, and provides important opportunities for the private sector, to raise the local content in the markets.

Basic Industries For his part, the Director of the Occupational Health and Safety Department at the Industrial Development Bureau of the Department, Nabil Saleh Al-Awlji, revealed that the total number of factories in the food and medical industries, and industries supporting energy production, amounted to 115 factories, with investments amounting to 11 billion dirhams.

He added that the implementation of the basic industries project has started with the strategic partners in the emirate, and it includes entering into 24 new industrial fields in these industries, foremost of which are the manufacture of electronic systems, solar panels, spare parts, energy production, medical gloves, glasses, masks, and protective medical clothing.

And the manufacture of surgical instruments, laboratory and examination equipment, and projects for the manufacture and drying of meat, vegetables and fruits, and the processing of dates, as well as the development of 25 industrial sectors already existing in these industries, such as manufacturing chilled and frozen meats, poultry, organic fertilizers, dairy factories, ointments, and medical solutions, Surgical respirators, and the manufacture of reinforced concrete tubes.

He explained that the project aims to provide the needs of the local market in the emirate, increase the local content, and provide consumers in the local market with a high-quality national product that is competitive. He stressed that the department aims to provide a strong industrial base that achieves self-sufficiency, and to record a competitive leap, with the availability of the logistical environment for export and supply, revealing the launch of a growth index for these main industries, food, medicine, energy, and vital industries during the next stage. Transparent competitive environment The director of the local investment department at the Abu Dhabi Investment Office, Mohamed Al Hosani, said that the office aims to provide a transparent competitive environment, to make Abu Dhabi a major center for local and foreign investment.

He stressed the importance of stimulating priority industries, noting that raising the percentage of Emiratisation in the private sector and employing Emiratis in jobs related to high knowledge and skill are conditions for obtaining incentives in the Emirate in general.

He mentioned that the Abu Dhabi Investment Office has pumped an investment of 367 million dirhams (100 million countries) into four companies specialized in agricultural technologies to develop the sector in the emirate, through innovative solutions to address global agricultural challenges.