UAE’s ADDED and ADQ unite to promote regional content

By Backend Office, Desk Reporter
ADDED
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Abu Dhabi’s Department of Economic Development (ADDED) and the region’s leading holding company ADQ have decided to collaborate to set up a framework and necessary strategies to support Abu Dhabi Local Content (ADLC) Program.

The ADLC Program by ADDED functions towards growth and diversification of Abu Dhabi’s Gross Domestic Product (GDP) along with facilitating increased job opportunities to Emiratis, improve regional supply chain and assist organizations in attaining In-Country Value (ICV) certificates.

Being a component of the Ghadan 21 government accelerator program, ADLC strives to facilitate improved private sector participation in Abu Dhabi government investments through increased productivity and value-add on locally-produced goods and services.

Commenting on the importance of the ADDED’s association with regional behemoth ADQ, Mr. Mohammed Ali Al Shorafa Al Hammadi, Chairman of ADDED stated that both organizations will work closely to achieve Abu Dhabi’s sustainable economic development through empowering the private sector and strengthening the role of small and medium-sized enterprises (SMEs).

ADQ’s CEO Mohamed Hassan Alsuwaidi stated that his organization was keen to work with the department in its efforts to encourage the growth of diversified GDP as well as enhance private companies’ contribution to the emirate’s local economy.

ADDED’s Undersecretary, Rashed Abdul Karim Al Balooshi observed that ADDED’s ADLC Program facilitated 23 government and semi-government entities in obtaining ADLC certificates in their purchases, reaching a total of 1,438 certificates with a combined value of $6.81 billion during the second quarter of this year.

He further added that there were 78 tenders representing the number of government purchases awarded with an ADLC certificate by the end of Q2 2020, with a total value of $462.84 million.

Moreover, government and semi-government entities are planning to open calls for more than 900 tenders which will require ICV certificates, with an estimated value of more than $5.17 billion.

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