The Undersecretary of the Ministry of Industry and Advanced Technology of the UAE, Hasan Jasem Al Nowais, said that the National In-Country Value – ICV Program was established as a stimulus for growth and has been demonstrated to be a successful pillar when it comes to economic resilience and stable development.
He added that the UAE manufacturing opportunities by ADNOC, worth over AED 60b through 2030, are a testament to the programme’s potential to convert demand from the region into capital investments in advanced sectors, providing quality job prospects for UAE nationals and manufacturing standards that encourage sustainable development and global competitive advantage.
He said ADNOC was an important collaborator in the success of the program and a model of using purchasing power so as to build national industrial standards. He said the Ministry is trying to link these possibilities with policies, rewards, and funding in order in order to convert them into real projects.
He urged the large buying entities to adopt this model that offers UAE manufacturing opportunities by ADNOC in an effort to widen its reach and strengthen the status of the UAE as a center for advanced sectors.
At the same time, the Assistant Undersecretary for the Industrial Accelerators Sector at the Ministry of Industry and Advanced Technology of the UAE, Eng. Osama Amir Fadhel, told the Emirates News Agency – WAM, on the sidelines of the Make it with ADNOC Forum, that this event is part of the Make it in the Emirates campaign and the National In-Country Value Program, which has been led by the Ministry.
He said ADNOC is one of the most important strategic partners of the programme.
He highlighted the important part that ADNOC has served since the program’s inception as an essential component of the national economy and an essential facilitator of local industries, especially in the gamut of oil and energy sectors. Many of these products promote the energy sector and other industrial sectors, he said.
The National In-Country Value Program has delivered tangible success, with over AED 473 billion allocated to the national economy to date.
He additionally emphasized the announcement made by ADNOC of AED 60 billion worth of possibilities for facilitating local manufacturing of over 200 goods within the UAE.
He said a number of these products are either entirely or partially imported from overseas, urging investors to take advantage of the prospects provided by obvious demand for these products.
He further said that the list that ADNOC provided clearly showed the products that are needed in the years to come and the value of consumption for each product year by year. He added that the Ministry of Industry and Advanced Technology assists investors across all stages right from beginning to execution.