The Ministry of Industry and Advanced Technology (MoIAT) and DUBAL Holding, the investment arm of Dubai Government in the commodities, mining, power, energy, and industrial sectors, on Tuesday signed an agreement to foster industrial cooperation and explore opportunities.
The agreement was signed in the presence of Sultan Al Jaber the Minister of Industry and Advanced Technology and Sara Al Amiri, Minister of State for Public Education and Advanced Technology. It was signed by Omar Al Suwaidi, Undersecretary of MoIAT and Ahmad Hamad Bin Fahad, CEO of DUBAL Holding LLC, on the first day of the Make it in the Emirates Forum taking place in Abu Dhabi.
Both the parties have agreed to cooperate in developing a framework for advancing the industrial and technology sectors in line with the directives of the UAE’s leadership to enhance economic diversification. The scope of the agreement covers industrial collaboration, attracting knowledge and technology, exploring opportunities for growth and providing incentives to drive industrial growth and promote advanced technology adoption.
Omar Al Suwaidi commented: “This agreement supports the development of the UAE as a global industrial hub. By offering incentives to companies as part of our unique value proposition, MoIAT and its partners are creating significant growth opportunities for manufacturers. We see DUBAL Holding as one of the key national industrial vehicles in advancing this growth.
Some of the projects currently being explored include Non-Recyclable Plastics to Liquid and Secondary Lead Smelter & Refinery through Recycling of Used Lead Acid Batteries.
The Make in the Emirates Forum, a first of its kind forum launched on Tuesday in cooperation with the Abu Dhabi Department of Economic Development. The event convenes major local industrial companies, financial institutions and government agencies. During the forum, 12 national companies presented more than 300 products across 11 sectors for local production and procurement. They announced the provision of AED 110 billion of potential purchase agreements to existing and new partners.