The Abu Dhabi Department of Economic Development (ADDED) has introduced the golden list project of the industrial products in Abu Dhabi, in partnership with the Department of Government Support (DGS).
This project is part of the Abu Dhabi Local Content Program (ADLC) established by the Industrial Development Bureau (IDB) to encourage firms and institutions with the In-Country Value (ICV) Certification to purchase products from the golden list of the projects and bids offered by the government.
According to the statement, “The implementation of this project is an integral part of the Circular No. (3/2020) issued by the Abu Dhabi Executive Council regarding the application of the ADLC program for all government procurements.” The IDB has included 231 local products produced by 62 factories in Abu Dhabi as the initial list of the initiative.
“The golden list project is an important initiative to reinforce the contribution of the industrial sector to Abu Dhabi’s GDP. The Abu Dhabi government has propelled development projects in various economic sectors during the period from 2018 to 2020, thus providing the basis for enhanced efficiency and competitiveness of the private sector within the emirate. This approach shall encourage companies in achieving a balance between financial efficiency and local content in their proposals. We expect that this approach will provide an attractive enabler that has a positive effect on the quality of life that paves the way for sustainable economic growth in the various economic sectors in the Emirate.”
Further, this project supports the ICV Certification by encouraging contractors to purchase “Golden list” products in government bids. As a result, the Emirate’s diverse supply chains will become more versatile, improving the sustainability of the economy, according to the reports.
Mr. Mohammed Munif Al Mansouri, Executive Director of IDB, has stated that the golden list project also encourages local factories, especially those with ICV exceeding 40 percent, to register their products in the golden list.
“The golden list initiative will provide further exposure for the industrial companies in Abu Dhabi to promote their products through the golden list initiative. This shall enhance confidence in the local product quality and improve their competitiveness with imports,” Al Mansouri added.