UAE: MoIAT, EDCC sign MoU to boost local defence firms, exports

UAE: MoIAT, EDCC sign MoU to boost local defence firms, exports

UAE - The Ministry of Industry and Advanced Technology (MoIAT) and the Emirates Defence Companies Council (EDCC) have signed a memorandum of understanding (MoU) to bolster local defence industries and promote exports.

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 Defence Exhibition (Idex 2023) and was attended by Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, 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 defence sector and enhance their performance through a package of incentives and enablers that support and facilitate growth.

Procurement contracts

It will also help SMEs secure procurement contracts from major national defence 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 incentivise and empower