UAE, Oman to boost collaboration

Omar Suwaina Al Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technology (MoIAT), and several senior MoIAT officials, has received an Omani delegation headed by Qais Bin Mohamed Al Yousef, Minister of Commerce, Industry, and Investment Promotion (MoCI), to boost collaboration and explore investment opportunities.

Amidst a formal visit of Al Yousef to the UAE to foster ties and expand cooperation, heading a trade and industry delegation, Al Suwaidi accompanied them on a tour of Khalifa Industrial Zone (Kizad). The visit is part of the solid strategic ties between the UAE and Oman to explore opportunities for collaboration in the public and private sectors, especially in industry, advanced technology, and quality infrastructure sectors.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of Abu Dhabi Ports Group, welcomed the delegation at Kizad’s headquarters and briefed them on the integrated trade, logistics and industrial hub, followed by a tour of AD Ports Logistics Cluster and AD Ports Maritime Cluster.

The Omani delegation included Dr Ahmed Bin Hilal Bin Saud Al-Busaidi, Ambassador of Oman to the UAE; Mohsin Khamis al-Balushi, Advisor to the Ministry of Commerce, Industry and Investment Promotion; and Redha bin Juma Al Saleh, Chairman of Oman Chamber of Commerce and Industry.

Meanwhile the Ministry of Industry and Advanced Technology (MoIAT) has successfully overseen a historic rise in industrial exports from the UAE to foreign markets, which amounted to approximately Dhs120 billion ($32.6 billion) in 2021. This coincided with a major surge in factories commencing production in 2021, with 220 new facilities going into service. Also, the National In-Country Value (ICV) Programme, launched to redirect spending by public entities and major companies under its umbrella to the UAE economy, has succeeded in circulating Dhs41.4 billion ($11.5 billion) back into the local market, further promoting local companies.

WAM