MoIAT to showcase new investment opportunities, incentives at ADIPEC

The Ministry of Industry and Advanced Technology (MoIAT) is set to showcase a range of new incentives at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023 to support the sustainable growth of national industries.

From 2-5 October at the Abu Dhabi National Exhibition Centre, MoIAT will participate in ADIPEC. In line with the ‘’Make it in the Emirates’’ initiative, the ministry will host the ‘Manufacturing and Industrialization Strategic Conference’. It brings together major local and international industrial companies to enhance opportunities for growth through the adoption of advanced technologies and 4IR solutions.

The conference promotes sustainable consumption and production best practices to accelerate the sector’s low-carbon transition. At the conference, MoIAT will showcase the competitive advantages of the UAE’s industrial sector, including investment opportunities, as well as incentives and enablers under the Make it in the Emirates initiative.

The ministry will announce incentives linked to the Industrial Technology Transformation Index (ITTI), including Golden Visa opportunities, in addition to free-of-charge ITTI assessments by the Abu Dhabi Department of Economic Development (ADDED) and in partnership with Maxbyte and Schneider Elecrtic. MoIAT will also introduce the Green ICV under the National In-Country (ICV) Program to enhance the competitiveness and sustainability of companies. MoIAT’s participation aligns with the objectives of the National Strategy for Industry and Advanced Technology, Operation 300bn, to increase the contribution the industrial sector makes to GDP. The strategy also aims to create an attractive business environment for local and international investors, support the growth of UAE industries and drive technological transformation.

MoIAT’s participation at ADIPEC 2023, the world’s largest energy exhibition, comes ahead of COP28. The ministry will contribute to ADIPEC’s theme, ‘Decarbonising. Faster. Together’, by promoting the adoption of advanced technology as well as sustainability practices in the sector as the UAE prepares to host the global climate conference. The ministry will host panel discussions on leveraging advanced technologies to build the industries of the future, the Make it in the Emirates initiative, as well as a roundtable for UAE Climate Tech Forum chief technology officers.Omar Al Suwaidi, Undersecretary of MoIAT, will deliver a keynote speech on enhancing the role of the industrial sector in achieving sustainable development. He will also participate in a session on Make it in the Emirates initiative, a local blueprint for empowering global economies.Representatives from the ministry will participate in a panel discussion on leadership perspectives on industrial policy and the synergy between the public and private sectors. They will include His Excellency Abdulla Al Shamsi, Assistant Undersecretary for the Industrial Growth Sector at MoIAT.

Dr Farah Al Zarooni, Assistant Undersecretary for the Standards and Regulations Sector at MoIAT, will participate in a session called the Circular Transformation Of Industries: A Systemic Approach. The ministry will also participate in in a youth session on the Industrialist Program and conduct a presentation on the National ICV Program.Senior officials from the ministry will visit the pavilions of a number of countries, including the US, to build on the strategic partnership signed between the UAE and US at last year’s exhibition with the aim of attracting industrial investments and implementing clean energy projects.

MoIAT officials will also visit Italy’s pavilion. The visits will also include the India pavilion, building on the Comprehensive Economic Partnership Agreements (CEPAs) between the UAE and India. Other pavilions MoIAT will visit include the UK, a country of strategic importance with a developed industrial sector.

As part of its participation at ADIPEC, MoIAT is set to announce a 4 training programs under the ‘Industrialists Program’ in the fields of safety and security; food and beverage; oil and gas, and metals and paper.

The ministry will also participate in a roundtable discussion with the German-Emirati Joint Council for Industry and Commerce (AHK) to showcase the competitive advantages of the UAE economy and highlight success stories of German companies.

The roundtable will include presentations from ADNOC on opportunities in the energy sector and Khalifa Economic Zones (KEZAD).The roundtable will also present incentives provided by the Abu Dhabi Department of Economic Development (ADDED), in addition to opportunities at Ras Al Khaimah Economic Zone (RAKEZ) Dubai Industrial City and Fujairah Free Zone.

Financial incentives by Emirates Development Bank and Etihad Credit Insurance will also be discussed. ADIPEC 2023 will see the participation of more than 2,200 companies, including 54 of major local and international energy players, in addition to 30 pavilions. The event will tackle global climate and energy challenges, addressing decarbonization efforts to accelerate the energy transition and achieve sustainability.