Dubai [UAE], May 4 (ANI/PRNewswire): Dubai Industrial City, a member of TECOM Group PJSC, signed three major strategic partnerships with the Ministry of Industry and Advanced Technology (MoIAT), the Ministry of Climate Change and Environment (MOCCAE), the Emirates Development Bank (EDB) and Dubai's Department of Economy and Tourism (DET), to stimulate growth in the UAE's manufacturing industry with the aim to strengthen the UAE's position as a sustainable, attractive global industrial hub.
The signing ceremony at Jumeirah Emirates Towers in Dubai on 3 May 2023 was attended by high-ranking officials and VVIPs including His Excellency Omar Al Suwaidi, Undersecretary of the Ministry Industry and Advanced Technology; His Excellency Eng. Mohammed Alameeri, Assistant Undersecretary for the Food Diversity Sector at the Ministry of Climate Change and Environment; Ahmed Al Naqbi, CEO of Emirates Development Bank; Hadi Badri, CEO of Dubai Economic Development Corporation - Dubai's Department of Economy and Tourism; Abdulla Belhoul, Chief Executive Officer of TECOM Group; and Saud Abu Alshawareb, Executive Vice President of Industrial Leasing - TECOM Group.
The agreements are in line with the long-term goals of the Operation 300bn, 'Make it in the Emirates' the 'National Food Security' and the UAE Net Zero by 2050 strategies to develop the UAE industrial sector and raise its in-country value and global exports as well as Dubai Economic Agenda 'D33' to promote sustainability, innovation and foreign investments in the local manufacturing sector.
The agreements will amplify local and regional opportunities for industrial growth through Dubai Industrial City's purpose-built ecosystem, creating a multi-pronged approach that fosters collaboration between the public and private sectors to address economic priorities such as advanced manufacturing, sustainability and food security.
Commenting on the partnership, His Excellency Omar Al Suwaidi, Undersecretary of the Ministry Industry and Advanced Technology said: "MoIAT is proud to support the Make Brilliance campaign, which is synergised with the objectives of the Make it in the Emirates initiative - one of the key pillars of our industrial sector and a vital contributor to the UAE's economic growth and diversification. Through the Make it in the Emirates initiative, we are forging a robust industrial community of local and international companies who are all contributing to the UAE's economic growth and diversification.
"Our partnership with Dubai Industrial City will further strengthen this community and its ties with international stakeholders, helping to reinforce the UAE's reputation as a global destination for industries of the future. MoIAT is committed to working alongside partners to support our national reputation as a global destination for manufacturing. The Make it in the Emirates Forum this month will be a key platform for our national enterprises to connect with international partners to discuss opportunities and advance conversations around sustainable industrial development. We look forward to introducing more enablers and incentives as well as highlighting the UAE's unique value proposition."
Following the signing ceremony, Saud Abu Alshawareb, Executive Vice President of Industrial Leasing - TECOM Group, said the agreements would pave the way for Dubai Industrial City to secure pathways for expanding the industrial and logistics sectors in Dubai and the UAE.
"Growing the industrial and logistics is essential to the UAE's growth strategy. Dubai's logistics network and business-friendly legislation have made it an attractive industrial hub. As one of the region's largest industrial ecosystems, we aim to take the sector to the next level, unlocking core market value and attracting international investors in line with Operation 300bn, 'Make it in the Emirates' and Dubai Economic Agenda 'D33'. Partnerships with key government entities like MoIAT, MOCCAE, EDB and Dubai's DET will ensure our efforts strengthen the UAE's position as a global industrial hub, encouraging future investments," added Alshawareb.
Growing a national manufacturing industry
Dubai Industrial City is building on its longstanding partnership with MoIAT and EDB to promote the 'Make it in the Emirates' initiative under Operation 300bn, which invites investors, innovators and developers to participate in the national industrial and advanced manufacturing sectors with a view to exporting UAE products to new global markets.
As part of a tripartite agreement signed during the event, MoIAT, EDB and Dubai Industrial City will collaborate to strengthen the UAE's reputation as a global destination for future industries. MoIAT will bring on Dubai Industrial City as a private sector partner to collaboratively advance the economic priorities of 'Make it in the Emirates' at local, regional, and international events.
These joint efforts to grow the UAE's manufacturing and industrial sectors will be strengthened by Dubai Industrial City's renewed partnership with EDB to secure AED1 billion in financing for its customers. Both entities will support the growth of advanced and sustainable manufacturing and logistics in the UAE by providing innovative financing and banking solutions to small- and medium-sized enterprises.
Commenting on the agreement, Ahmed Al Naqbi, CEO of Emirates Development Bank, said: "The signing of this MoU today underscores EDB's vital role in strengthening the economic resilience and competitiveness of the UAE. In 2022, EDB approved AED513.4 million towards financing projects and businesses based in Dubai Industrial City.
"We are proud to be a part of Dubai Industrial City's #MakeBrilliance campaign, which reinforces the UAE's commitment to innovation and excellence in industrial manufacturing. Our commitment to providing AED1 billion for businesses based in the district in the next three to five years represents a significant increase in available capital, heralding a new era in industrial financing to help deliver innovative products made in the UAE.
"Through strategic partnerships with key players like MOIAT and Dubai Industrial City, EDB identifies developmental projects and deploys capital efficiently and quickly. Our partnership is instrumental to drive resilience and growth in the UAE's industrial landscape, as we excel through partnerships and continue to support projects that contribute to the nation's economic growth and competitiveness."
New partnerships with MOCCAE and Dubai's DET
Dubai Industrial City and MOCCAE signed an agreement to boost food security to support the 'National Food Security Strategy 2051'. Both parties will promote adopting advanced technology to strengthen the local food production sector and emphasise the importance of innovation, knowledge-sharing, and nutrition security.
His Excellency Eng. Mohammed Alameeri, Assistant Undersecretary for the Food Diversity Sector at the Ministry of Climate Change and Environment, stressed that all are partners in supporting the competitiveness of the UAE and achieving its goals to enhance food security based on innovative solutions and modern technologies that are environmentally friendly and climate smart.
His Excellency added: "With the UAE hosting the twenty-eighth session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) and in line with the Year of Sustainability, we stress, through our strategic partnership with Dubai Industrial City, the importance of strengthening the UAE's ranking in the global food security indicators, and transforming it into an innovation based food security hub. The UAE aims to become the best in the world on the global food security index by 2051, through employing modern techniques and technologies, enhancing local production, and developing local and international partnerships to diversify food sources."
Sustainability remains a key pillar for Dubai Industrial City and the UAE's overarching manufacturing roadmap, and the agreement signed between Dubai Industrial City and MOCCAE will promote decarbonisation in the industrial sector. Both parties will collaborate on implementing environmental laws and decrees and promoting the UAE carbon registry and crediting mechanism to support decarbonisation efforts in the industrial and logistics sectors under the UAE Net Zero by 2050 strategy.
The agreement with Dubai's DET will contribute to the Dubai Economic Agenda 'D33' by attracting foreign direct investment in the manufacturing and logistics sectors. By showcasing the ecosystem's ready-to-use offerings before global audiences, Dubai Industrial City aims to attract international manufacturers to set up and export from Dubai and the UAE.
Hadi Badri, CEO of Dubai Economic Development Corporation - Dubai's Department of Economy and Tourism, said: "As Dubai's Department of Economy & Tourism, we are committed to building on the strength of Dubai's progressive public-private partnership model to deliver the Dubai Economic Agenda 'D33' and will bring together a range of stakeholders to contribute towards its success. We are focused on a set of core priorities for the next decade, including raising the value-add of the industrial sector and promoting export growth, building a framework for sustainable economic development, and achieving self-sufficiency in a number of key sectors and industries, including manufacturing."
Launch of #MakeBrilliance
The event also kicked off Dubai Industrial City's #MakeBrilliance campaign, which will elevate the industrial hub's status globally. MoIAT, MOCCAE, EDB and Dubai's DET will amplify the campaign at global, regional and local events.
Established in 2004, Dubai Industrial City is one of the region's largest industrial manufacturing and logistics hubs. It is home to more than 800 customers and 300 operational factories. It has been a catalyst for the growth and expansion of the UAE's industrial sector with a world-class master plan divided into sector-focused zones, including minerals, base metals, F&B, trade and distribution, transportation, chemicals, and machinery and equipment.
Dubai Industrial City is part of TECOM Group's portfolio of 10 business districts, including Dubai Internet City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Science Park, Dubai Knowledge Park, Dubai International Academic City and Dubai Design District (d3).
TECOM Group has been developing strategic, sector-focused business districts across the emirate of Dubai since 1999. TECOM Group is well-positioned to continue playing an integral role in cementing Dubai's status as a global business and talent hub.
The TECOM Group portfolio consists of 10 business districts catering to 6 vital knowledge-based economic sectors, including design, education, manufacturing, media, science, and technology. The Group provides a varied and tailor-made leasing portfolio - which includes offices, co-working spaces, warehouses and land - to over 9,500 customers and more than 105,000 professionals.
TECOM Group offers additional value-added services to deliver a competitive and attractive environment for businesses and entrepreneurs to thrive in and to facilitate engagement between the districts' community members. Government and corporate services are made available through an integrated smart services platform, "axs", which enhances ease of doing business and provides community members with a seamless experience.
TECOM Group also provides industry specialized facilities, including media production studios, laboratories and higher education campuses. in5, its enabling platform for entrepreneurs and start-ups, offers innovation centres supporting tech, media, and design start-ups and SMEs. Its future-focused co-working spaces D/Quarters deliver stimulating work environments for tenants, and the "Go Freelance" package serves freelance talents.
For more information, please visit www.tecomgroup.ae.
Dubai Industrial City provides intelligent infrastructure and integrated solutions for manufacturers and businesses. Part of TECOM Group, it is a key stakeholder in the Operation 300bn, which aims to develop the UAE's industrial sector and enhance its role in stimulating the national economy.
The hub is home a wide range of customers in sector-specific zones, including major local and multinational organisations such as Unilever, Patchi, Al Khayyat Investments, Almarai Group, IFFCO Group, Silver Line Gate Group, Badia Farms and Al Futtaim Logistics.
Offering a cost-effective and efficient business environment for the region's manufacturing sector, Dubai Industrial City today serves as an enabling ecosystem for manufacturing and logistics with its integrated offerings of industrial land, state-of-the-art warehousing, office space, retail space, showrooms, and worker accommodation.
For more information, please visit www.dubaiindustrialcity.ae
Emirates Development Bank [EDB] the UAE's development bank, is a key financial engine for the economic development and industrial advancement of the UAE. EDB provides financial and non-financial support to businesses of all sizes from start-ups, SMEs to corporates driving economic competitiveness across five strategic priority sectors: advanced technology, food security, healthcare, renewables, and manufacturing. EDB was established under Federal Law by Decree No. 07 of 2011 issued by the late Sheikh Khalifa bin Zayed Al Nahyan; and became operational in June 2015.
For more details, visit www.edb.gov.ae.
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