Mr. Arafat Al Yafei & Mr. Faiz Al Nahddy at MoU signing ceremony
The Abu Dhabi Department of Economic Development (ADDED) and Tawazun Industrial Park, established by the Tawazun Council, have signed a Memorandum of Understanding (MoU) to boost the industrial sector’s competitiveness and further develop it by implementing initiatives and programs of the Abu Dhabi Industrial Strategy (ADIS).
The agreement was signed by Mr. Arafat Al Yafei, Executive Director of ADDED’s Industrial Development Bureau (IDB) and Mr. Faiz Al Nahddy, MD and CEO of Tawazun Industrial Park, in the presence of senior officials from both sides.
The MoU focuses on delivering the initiatives launched by IDB to achieve ADIS objectives by investing $2.7 billion in six transformational programs. These programs aim to more than double the sector size to $47 billion, create 13,600 new jobs, and contribute to increasing Abu Dhabi’s non-oil exports to $48.6 billion by 2031. The six programs under ADIS are Industry 4.0, Circular Economy, Talent Development, Ecosystem Enablement, Homegrown Supply Chain, and Value Chain Development.
The cooperation between ADDED and Tawazun will include the Land Incentives program, offering long-term industrial land lease contracts through a rental rebate with rates as low as $1.36 per square meter. The Energy Tariff Incentive Program (ETIP 2.0) offers preferential rates for gas and electricity to the industrial sector based on eligibility criteria, including economic impact, Emiratization rate, and energy management efficiency. The Abu Dhabi Smart Manufacturing Index will guide and facilitate the private sector players’ transition to Industry 4.0 technologies, applications, and methods.
Arafat Al Yafei Executive Director IDB
“We are honored to enhance cooperation with Tawazun Industrial Park, a key pillar of the industrial sector in Abu Dhabi and a regional hub of defense and security industries, as we are rolling out initiatives and building partnerships with major local and global players to deliver against Abu Dhabi Industrial Strategy. During the last year, the manufacturing sector in Abu Dhabi continued its strong performance, and its achievements form a solid base to implement ADIS initiatives designed to increase access to financing, enhance ease of doing business, and attract foreign direct investment to accelerate the transition to a circular, smart and sustainable economy.”
A joint committee will coordinate and oversee the implementation of the MoU and organize workshops to raise awareness about the programs, initiatives, and the role of ADIS in supporting industrial establishments.
Mr. Shareef Hashim Al Hashmi, CEO of Tawazun Council and Chairman of Tawazun Industrial Park, said that “This agreement reflects Tawazun Council’s keen interest to strengthen the industrial sector by implementing programs and initiatives to enhance Abu Dhabi’s competitiveness. The role of defense and security industries in diversification and sustainable, comprehensive development is growing steadily, and our cooperation with various government entities aims to enhance an attractive ecosystem for defense and security companies.”
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