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February 22, 2024

MIITE Forum to show UAE’s industrial investment avenues

The third edition of the Make in the Emirates Forum, from May 28 to 29 at the Abu Dhabi Energy Centre, will showcase UAE’s enablers and investment opportunities within the industrial sector.

It comprises the Make it in the Emirates Awards, which celebrate the industry’s biggest contributors to sustainable industrial growth and Emiratisation.

Organised by the Ministry of Industry and Advanced Technology (MoIAT) in collaboration with Abu Dhabi Department of Economic Development (ADDED) and Adnoc, the forum aligns with the objectives of the National Strategy for Industry and Advanced Technology and the Make it in the Emirates initiative, focusing on the theme of “Investment, Sustainability, Growth”.

Knowledge exchange

The event offers a knowledge exchange platform for local and international industrial community members to discuss expansion, investment, and partnership opportunities, as well as incentives and enablers.

MIITE is expected to attract extensive participation from decision-makers, government and private sector officials, local and international private companies, experts, entrepreneurs, financing entities, investors, startups and SMEs.

Investment opportunities

Omar Al Suwaidi, Undersecretary of MoIAT, said: “The MIITE Forum aligns with the leadership’s directives to enhance the UAE’s conducive ecosystem, creating hundreds of industrial investment opportunities every year. This is in line with the National Strategy for Industry and Advanced Technology, aimed at supporting the growth and competitiveness of the UAE’s industrial sector, as well as offering incentives and enablers to investors through the ministry’s initiatives. These initiatives include the National In-Country Value Programme, which leverages government expenditure to drive industrial growth, as well as the Technology Transformation Program supporting the transformation, efficiency, and sustainability of industrial companies.”

He noted that the ministry’s initiatives are aimed at strengthening the UAE’s position as a regional and global hub for manufacturing and innovation, and a leading destination for industrial investment.

He added: “The second edition of the forum saw significant growth in agreements, with UAE companies committing to AED120 billion ($32.7 billion) in investment. The number of products identified for local manufacturing surged to over 1,400 in comparison to 300 announced during the first edition, with AED6 billion in financing provided by national strategic partners including First Abu Dhabi Bank and Mashreq. More than 5,000 officials, investors, manufacturers, major local and international industrial companies, technology developers, government entities, and financial institutions were in attendance.”

UAE’s competitiveness

Al Suwaidi pointed to the forum’s sessions and events, which focus on the UAE’s vital industrial sectors, including advanced industries, clean energy, foods and pharmaceutical manufacturing, technological investment, digital transformation. He emphasised how the event recognises successful industrial companies, leading national companies, the private sector, startups, and SMEs. He also highlighted the UAE industrial sector’s capabilities and leading position, supported by a robust legislative framework that attracts local and international investments.

Incentives and enablers

The second MIITE and accompanying exhibition witnessed the announcement of the 13 winners of the inaugural Make in the Emirates Awards. The awards encompass 10 categories grouped under four main pillars: Factory of the Future, In-Country Value Contribution, Industrial Enablers, and Leadership and Talent. The ceremony supports transformational projects and companies that contribute to raising the competitiveness of the industrial sector and promoting the adoption of advanced technologies and sustainable practices.

 

 

 

 

 

Trade Arabia