Chairman of the Abu Dhabi Department of Economic Development (ADDED) Mohamed Ali Al Shorafa Al Hammadi said the industrial sector contributed some AED83.5 billion to the emirate’s GDP in 2021.
Al Hammadi said that in a year the UAE has advanced five places to rank 30th globally in a report by the Competitive Industrial Performance Index issued by the United Nations Industrial Development Organization (UNIDO) in 2021, which evaluates industrial performance in 152 countries.
He said that industrial financing requires the establishment of new frameworks, noting that a new industrial financing entity will soon be established in the emirate to finance large industries and small and medium-sized enterprises (SMEs).
He made the statement during the launch of Abu Dhabi’s new industrial strategy, which was attended by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Abdullah bin Touq Al Marri, Minister of Economy, Sheikh Abdullah bin Mohammed Al Hamed, Chairman of the Department of Health-Abu Dhabi, Abdullah Al Hamli, Head of the Economic Cities and Free Zones Sector-Abu Dhabi Ports Group, and several officials.
There are new initiatives aimed at attracting industrial investments to Abu Dhabi, including reducing electricity, water and gas tariffs, as well as industrial land prices, he further added, highlighting the launch of the ‘Abu Dhabi Partners Initiative’, which aims to attract local and international partners in key industrial sectors.
The industrial sector is a key contributor to the national economy, amid the current efforts to attract advanced and technological industries, Al Hammadi said.
He added that Abu Dhabi’s manufacturing sector has witnessed significant growth over the past years, with more than 850 industrial establishments being based in the emirate, in addition to seven operators of industrial zones that facilitate business and prosperity.