MoIAT, Tawazun Industrial Park convene industrial firms to discuss defense opportunities
Hosted in partnership with Tawazun Industrial Park, the roundtable focused on the diversity of defense and space industries in the UAE, as well as on existing cooperation between national agencies, and incentives provided by Tawazun. MoIAT also highlighted its efforts to create competitive advantages for investors through the Make in the Emirates initiative.
His Excellency Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology said: “The national defense sector is witnessing a major shift in competitiveness, growth, efficiency and technological innovation. The UAE has become a launch pad for many industrial companies and the country has strengthened its position as one of the main defense manufacturers and exporters in the region. The sector is witnessing significant growth opportunities. Defense spending in the UAE is set to increase to more than $5 billion annually over the next five years.”
During the meeting, His Excellency provided on overview of Make it in the Emirates and its role in supporting the competitiveness of national industries, including the defense sector. He noted the many enablers, incentives and initiatives that support the growth of industrial companies, including the National In-Country Value program, the Technology Transformation Program, and the Industrial Technological Transformation Index. In line with the UAE’s presidency of COP28, national industrial champions have an opportunity to highlight how industry can help the nation to achieve its net zero commitment by 2050 through the adoption of sustainable solutions and by driving the technological transformation of the industrial sector.
Faiz Al Nahdi, CEO and Managing Director of Tawazun Industrial Park, said: “Today's round table, on the sidelines of IDEX, was an exceptional opportunity to bring together MOIAT leading the "Make it in the Emirates" initiative along with DED/IDB, ADIO and EDB and several defense contractors. TIP as the Defense & Security industry enabler unveiled several initiatives and its offerings to attract local and foreign investment to the country. We are all working towards improving the industrial eco system which is greatly enhanced by the strategic initiatives, benefits and various trade agreements of the UAE. It is apparent that UAE today is one of the preferred investment destinations.”
Ahmed Mohammed Al Naqbi, CEO of Emirates Development Bank, highlighted EDB’s role, and the competitive financing it provides to startups and SMEs in defense. Delegates from the Industrial Development Bureau from the Department of Economic Development in Abu Dhabi introduced the Abu Dhabi Industrial Strategy focusing on the National ICV program and its ability to support and enhance defense industries.
Mohammed Al Hosani, Head of Strategic Partnerships at Abu Dhabi Investment Office presented an overview of the office's strategy, role, and services. Officials from the Tawazun Industrial Park presented the park’s vision for the advancement of the industrial sector, which places Make in the Emirates at its core.
Representatives of government institutions as well as national and foreign companies participated in the roundtable, including the Abu Dhabi Investment Office, Yahsat, Calidus, Al Rumaithy Establishment, Airbus Defense and Space, Airbus Helicopters, Watco, CAE Defense and Security, MBDA, Lockheed Martin, and KPMG.
February 24, 2023