Abu Dhabi’s Department of Economic Development (ADDED) and Emirates Defense Companies Council (EDCC) have inked a Memorandum of Understanding (MoU), to build a strategic partnership to support the defense and security sector in the region.
Further, the MoU intends to align the entities goals with the industrial strategy of Abu Dhabi to boost the emirate’s competitive advantages.
The alliance facilitates cooperation in areas such as research, development and skills transfer. Furthermore, it helps in promoting sustainable, knowledge-based economy in the emirate and the Abu Dhabi Local Content Programme (ADLC), within the defense and security sectors.
Rashed Abdul Karim Al Balooshi, Under-Secretary of ADDED, has said that through the Industrial Development Bureau (IDB), ADDED seeks to regulate and develop the industrial sector in the emirate and sustain innovation as an effective element in its economy.
“The IDB aims at ensuring a competitive environment in Abu Dhabi’s emerging industrial sector. The defense and security industry is a promising sector that is poised to add great value to the emirate’s economic performance in the coming years,” he added.
“The defense and security sector is playing a growing role in support of economic diversification and sustainable development drive. The EDCC will work very closely with ADDED’s IDB to consolidate defense companies in the national industrial sector and encourage them to develop their services and processes to meet the Bureau’s required standards and to garner benefit from the department’s export incentives programs.”
The EDCC was established as an initiative supported by the Ministry of Defense, the UAE Armed Forces, and the Tawazun Economic Council, to support national defense companies. It also offers a suitable environment for defense firms to develop their products and services according to international standards and best practices and allow them to contribute to the development of the industrial sector and the ongoing drive to diversify the sources of income for the UAE.