Abu Dhabi to boost industrial competitiveness with flurry of incentives

Abu Dhabi to boost industrial competitiveness with flurry of incentives

Abu Dhabi is looking to improve the competitiveness of its industrial sector by establishing an industrial investment journey in the UAE capital.

Speaking at the Annual Investment Meeting (AIM Global 2023) this week, Arafat Al Yafei, Executive Director of the Industrial Development Bureau at the Abu Dhabi Department of Economic Development (ADDED), revealed that the department is keen on increasing incentives for investors.

“Very soon, we are going to announce the Abu Dhabi industrial investment journey,” he said. “The Abu Dhabi government, especially the economic department, is providing good incentives for investors to come to establish their licence. We will take care of the investors [throughout their journey].

The emirate is reportedly keen on improving its industrial sector's competitiveness whilst developing and implementing initiatives and programmes from the Abu Dhabi Industrial Strategy (ADIS).

Launched last year, the ADIS will see the government invest an estimated AED 10 billion to more than double the size of Abu Dhabi’s manufacturing sector to AED 172 billion, create 13,600 skilled jobs, and increase Abu Dhabi’s non-oil exports by 143% by 2031.

“The strategy [ADIS] is cascaded into six confirmation factors,” Al Yafei continued. “One of them is to ensure that [we are] creating the ecosystem for the industry. He