AED10bn in new offtake agreements announced at second Make it in the Emirates Forum

AED10bn in new offtake agreements announced at second Make it in the Emirates Forum

His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology (MoIAT), announced an additional AED10 billion of offtake agreements in the UAE’s industrial sector, building on the previous forum’s AED110 billion worth of procurement opportunities, taking the total value of products targeted for localization to AED120 billion.

The second Make it in the Emirates Forum, organized by the MoIAT in partnership with the Abu Dhabi Department of Economic Development (ADDED) and ADNOC is being held under the theme of ‘Investment, Sustainability, Growth’. The Forum convenes local and international industrial companies, government entities, financial institutions, and investors.

“One of the key achievements of last year’s forum was several leading national companies announcing their intention to invest AED110 billion over the next decade to purchase 300 products from local manufacturers,” HE Dr. Al Jaber said. “I am pleased to share with you that in the first year alone, 28 percent of these offtake agreements have been implemented, representing a total value of AED31 billion.”