UAE extends National ICV Program to Ras Al Khaimah and Fujairah to support local companies
In the presence of His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Her Excellency Sarah bint Youssef Al Amiri, Minister of State for Public Education and Advanced Technology, the Ministry of Industry and Advanced Technology (MoIAT) signed agreements with the Department of Finance in Ras Al Khaimah and the Department of Industry and Economy in Fujairah to join the National ICV Program. MoIAT oversees the National ICV Program, which was launched as one of the Projects of the 50.
By redirecting government procurement in Ras Al Khaimah and Fujairah, the National ICV Program aims to achieve several objectives. These include strengthening value chains, developing new local industries and services, stimulating and attracting investment, diversifying the economy, increasing domestic manufacturing and creating quality job opportunities.
The two MoU were signed on behalf of MoIAT by His Excellency Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology. His Excellency Yousef Ali Mohammed, Director General of the Department of Finance in the Government of Ras Al Khaimah signed on behalf of Department of Finance in Ras Al Khaimah, while His Excellency Mohammed Obaid bin Majid Al Alili, Director-General of the Department of Industry and Economy in Fujairah. The signing was attended by Dr. Abdul Rahman Al Shayeb Al Naqbi, Director General of the Department of Economic Development in Ras Al Khaimah, and Mohammed Rashid Al Suraid, Deputy Director General of Economic Affairs of the Department of Finance in Fujairah.
His Excellency Omar Al Suwaidi said: “The program redirected AED 41.4 billion of spend to the national economy in 2021. The expansion of the National ICV Program contributes to increasing the competitiveness of local products and services and promotes the growth of the industrial sector and its related sectors. The program is a key pillar of the national strategy for industry and advanced technology and promotes the competitiveness of the UAE’s industrial sector. This represents and important contribution to the country's economic diversification strategy.”
His Excellency continued: “The MoUs with the governments of Ras Al Khaimah and Fujairah will support cooperation and integration between federal and local government entities. These partnerships further strengthen national supply chains and support self-sufficiency in priority and strategic industries. Today, the program includes more than 45 federal government entities including ministries, federal entities, in addition to 17 major national companies.
“The expansion of the National ICV Program supports the goals of the Make in the Emirates campaign, which was launched by the ministry to attract investments and promote sustainable industrial development. The campaign highlights the opportunities that the UAE’s industrial sector provides to international investors and showcases the UAE’s competitive advantages. The campaign supports the adoption of advanced technologies in the industrial sector through the Industry 4.0 program, which was launched to enhance the contribution of the industrial sector to national GDP.”
His Excellency explained: “The expansion of the National ICV Program enhances the UAE’s business environment. The program has already demonstrated promising results in its early stages with a number of major national companies localizing their value chains. It also contributes to attracting industrial investments thereby supporting national economic growth.”
His Excellency Omar Al Suwaidi concluded: “The program’s expansion represents growth opportunities for companies in various sectors, including medical technology, advanced industries, hydrogen, heavy industries, food and beverages, agricultural technology, pharmaceuticals, electronic equipment, machinery and plant equipment, petrochemicals, chemical products, and rubber and plastics, among others.”
Boosting business for national companies
His Excellency Yousef Ali Muhammad Al Balushi, Director General of the Department of Finance of the Government of Ras Al Khaimah, said: “We are delighted to join the National ICV Program and we look forward to its implementation in Ras Al Khaimah. The program contributes to strengthening supply chains among national industries and services and supports the work of companies in the emirate and the UAE, thus enhancing the competitiveness of our country.”
His Excellency Mohammed Obaid bin Majid Al Aleeli, Director General of the Department of Industry and Economy in the Government of Fujairah, said: “The agreement reflects the strong relations between the UAE federal government, represented in this case by the Ministry of Industry and Advanced Technology, and local departments such as the Department of Industry and Economy in Fujairah.”
“Local authorities support the contribution of national industries to development projects through the Make in the Emirates campaign and also support the implementation of the national strategy for industry and advanced technology, which aims to increase the contribution of the industrial sector to GDP. “
He added: “Achieving self-sufficiency in key areas such as food, medicine and advanced technology, supports greater national resilience and long-term sustainability.”
October 04, 2022