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The second and final day of Make it in the Emirates rang in more industry initiatives and saw more manufacturers set up shop in the UAE.
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DATA POINT- Over 1.3k products now carry the “Made in the Emirates” label since the initiative’s launch in 2023, Wam reports, citing Assistant Under-Secretary for Standards and Regulations Sector at the Industry Ministry, Farah Al Zarooni.
DIGITIZATION-
#1- Industry Ministry launches digitalization initiative: The Industry and Advanced Technology Ministry rolled out a new initiative to accelerate digital adoption across the industrial sector, dubbed Transform 4.0, Wam reports. The initiative will support 100 manufacturers, to create “a group of Industry 4.0 lighthouses over the next three to five years,” and comes as part of plans to raise the industrial sector’s contribution to the GDP to AED 300 bn by 2031.
EDB to fund the initiative: The ministry inked an MoU with Emirates Development Bank (EDB) and national telco du to boost digital transformation in manufacturing. EDB will finance the onboarded companies, while du will act as a tech partner, assisting manufacturers in implementing the digitalization roadmap.
ICYMI- EDB is allocating up to AED 5 bn to finance businesses and projects in the manufacturing sector, marking its highest funding pledged to date, in a bid to boost “technology adoption, economic resilience and diversification” in the sector.
Also chipping in: Industrial digitalization firm Maxbyte, Precast, and du have collectively committed services valued at AED 10 bn to support the program. The Industry Ministry inked an MoU with Industry Apps to provide companies under the program with access to the platform’s portfolio of smart applications to support their digital transformation. Industry Apps will also offer services worth AED 5.5 mn without charge.
FYI- Industry Apps is a platform that aids companies in “[raising] their digital maturity” and supports their digital transformation efforts.
Who’s in? Automation solutions provider ACME was the first company to be enrolled in the initiative. Other onboarded companies include Hotpack Global, Mercatus MEA, Modern Plastics Industries, Hempel Paints, Ittihad Paper Mill (IPM), HIRA Industries, Star Paper Mill, Abu Dhabi Precast, Emirates Float Glass, HIRA Industries, Lipton, IPM, Al Gharbia Pipeline, Aquachemie, iPlast, Aswan Engineering, Agthia Group, Masafi, and Union Copper Rod.
TRADE FINANCE-
The Abu Dhabi Exports Office (Adex) — the export arm of Abu Dhabi Fund for Development — has allocated AED 3.5 bn in funding to boost local companies’ exports, Deputy Director General of ADFD Khalifa Al Qubaisi told Wam on the sidelines of Make it in the Emirates, without clarifying the timeline of the disbursement or specific sectors it plans to target.
How does Adex help? The export office usually provides credit facilities to exporters, as well as financing and guarantees for foreign importers to support their imports from the UAE/
MORE LOCAL MANUFACTURING OFFTAKE AGREEMENTS-
Strata to manufacture SailGP F50 parts: Mubadala-owned composite aerostructures manufacturer Strata Manufacturing inked a partnership with global sailing competition SailGP to manufacture parts of SailGP’s F50 catamaran models, Wam reports. As a production partner, Strata will help SailGP increase the number of its international events by ramping up the production of F50 catamarans through supplying key components of the multihull sailboat fleet, used by the ten current teams in the flagship league.
Mubadala + SailGP expand partnership: The agreement, which was signed on the sidelines of the Make it in the Emirates Forum, builds on Mubadala’s existing partnership with SailGP as a global series partner. The Abu Dhabi sovereign wealth fund is the title sponsor for the upcoming Mubadala New York Sail Grand Prix, scheduled for 22-23 June.
