29 industrial facilities convert their license status to ‘Production’ in Abu Dhabi with investment value of AED2.6 billion

SourceBusiness Live ME
SectorEconomy
CountryUnited Arab Emirates

(WAM) — The Industrial Development Bureau (IDB) of the Abu Dhabi Department of Economic Development (ADDED) has announced Abu Dhabi’s industrial performance report for the first half of 2020, which revealed that the number of industrial licenses with a converted status to ‘Production’ reached 29 with a total investment value of AED2.6 billion. New industrial licenses under ‘Industry Pioneers’ also grew by 18 percent while the licenses with ‘Under Construction’ status rose by 33 percent, compared to the first half of 2019. Mohammed Ali Al Shorafa, Chairman of ADDED, said that industrial performance during the first half of 2020 demonstrates an increase in most of the performance indicators of Abu Dhabi’s industrial sector despite the coronavirus (COVID-19) crisis and its impact on both the regional and global economies. Al Shorafa added: “The report’s ...read more...