Make it in the Emirates: MoIAT, EDCC sign MoU to boost local defense companies, exports
Abu Dhabi, UAE – The Ministry of Industry and Advanced Technology (MoIAT) and the Emirates Defense Companies Council (EDCC) today signed a memorandum of understanding (MoU) to bolster local defense industries and promote exports.
His Excellency Omar Al Suwaidi, Undersecretary of MoIAT signed the MoU with Mona Al Jaber, Chairwoman of EDCC. The signing ceremony took place on the sidelines of the International Defense Exhibition (IDEX 2023) and was attended by His Excellency Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Her Excellency Sarah Al Amiri, Minister of State for Public Education and Advanced Technology, Major General Dr. Mubarak Saeed Ghafan Al Jabri, Assistant Undersecretary for Support and Defence Industries at the Ministry of Defence and Deputy Chairman of the Committee for IDEX and NAVDEX, and Tareq Abdulraheem Al Hosani, Secretary General of Tawazun Council.
The MoU aims to empower small and medium enterprises (SMEs) in the defense sector and enhance their performance through a package of incentives and enablers that support and facilitate growth.
It will also help SMEs secure procurement contracts from major national defense companies. In addition, it will provide flexible financing solutions through Emirates Development Bank and encourage companies to engage with the Industrial Technological Transformation Index (ITTI).
The MoU will incentivize and empower investors by offering long-term leasing contracts and business incubators while leveraging competitive advantages. It aims to develop the UAE’s defense industries and boost exports under the Make it in the Emirates initiative.
HE Al Suwaidi said: “The MoU aligns with the objectives of the National Strategy for Industry and Advanced Technology (Operation 300bn), to enhance partnerships and cooperation with public and private sector entities and SMEs by providing incentives and enablers to attract industrial investments under the Make it in the Emirates initiative.
“As part of its strategic objectives, MoIAT focuses on supporting the growth of national industries and enhancing their competitiveness, while stimulating innovation and promoting the adoption of advanced technology across industry. It also positions the UAE as a global destination for pioneering future industries. We are keen on integrating and cooperating with all relevant entities in the UAE to support them in leveraging the advantages and enablers provided by MoIAT and its strategic partners.”
“The collaboration with MOIAT provides a significant boost to EDCC’s efforts to assist UAE defense companies to build their businesses and capabilities in accordance with worldwide best practices and to promote UAE industries in global forums,” stated Mona Al Jaber.
“We work to ensure that all of our future plans and strategies are aligned with the objectives of the national strategy for industry and the ‘Make it in the Emirates’ campaign, launched by MOIAT. This will contribute to the development of industries in general and defense industries in particular and reflect the UAE’s image as a global destination for advanced industries,” she added.
Under the MoU, the two parties will cooperate with their partners to offer financing solutions for national defense projects and factories, helping to create a conducive environment for business growth.
The incentives provided under the MoU include bespoke facilities, long-term leasing, free lease periods, supportive incubators, and smaller units that are ready to be occupied by tenants. These incentives support stakeholders to achieve their goals, promote the adoption of cutting-edge technology and support the local manufacturing of competitive, high-quality products.
About the Ministry of Industry and Advanced Technology:
The UAE’s Ministry of Industry and Advanced Technology (MoIAT), established in July 2020, is mandated with strengthening the UAE’s industrial sector, specifically by accelerating the adoption of advanced technologies and Fourth Industrial Revolution (4IR) solutions across the value chain.
MoIAT has three overarching goals: Strengthening the UAE’s industrial base, ensuring in country value, and raising the competitiveness of local industries. By enhancing the contribution of advanced technology, the Ministry will support the country’s sustainable economic growth, and ensure GDP contribution from the industry sector.
The Ministry will draft policies, laws and programs to create a world-class industrial development framework for the nation that will help attract foreign direct investment, boost In-Country Value creation, support national entrepreneurship, drive job creation, and boost exports of ‘Made in UAE’ products.
From encouraging the establishment of industrial complexes to raising local capacity in advanced technology, the Ministry will accelerate industrial development in a bid to drive economic growth, diversification, value retention and national self-reliance.