UAE Pledges Additional $2.7bn in Industry Offtake Agreements, Invites Global Investors to Leverage Incentives
31.5.2023 21:13:00 EEST | Business Wire | Press release
His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, today announced $2.7 billion in offtake agreements for the UAE’s industrial sector in a move to boost local manufacturing, strengthen supply chains and attract international investors.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230531005894/en/
His Excellency Dr Sultan Al Jaber UAE Minister of Industry and Advanced Technology (Photo: AETOSWire)
Addressing the second Make it in the Emirates Forum, HE Dr. Al Jaber said the new set of procurement opportunities would build on the previous forum’s offtake agreements.
“One of the key achievements of last year’s forum was several leading national companies announcing their intention to invest $29.9 billion over the next decade to purchase 300 products from local manufacturers,” HE Dr. Al Jaber said.
“I am pleased to share with you that in the first year alone, 28 percent of these offtake agreements have been implemented, representing a total value of $8.4 billion.”
HE Dr. Al Jaber also announced plans for more than 30 new industrial projects, representing more than $1.6 billion of investments.
“These projects include pioneering initiatives such as setting up the first hydrogen electrolyzer plant in the UAE,” he said.
$1.63 billion of financing solutions for the industrial sector were also announced along with 5,000 jobs for UAE nationals in industry through the Industrialist Program.
HE Dr. Al Jaber added: “I invite all attendees and participants to explore through this forum the incentives and enablers provided by various economic development departments, industrial and special zones, financing institutions, and national companies.”
The UAE’s industrial exports reached $47.6 billion in 2022, growing 49 percent compared to 2021. The industrial sector's contribution to GDP rose to $49.5 billion in 2022, a 38 percent increase on 2020.
The Make it in the Emirates Forum is organized by the Ministry of Industry and Advanced Technology in partnership with the Abu Dhabi Department of Economic Development (ADDED) and ADNOC.
Twitter: @moiatuae
Instagram: @moiatuae
Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230531005894/en/
Contact information
Tasnim Hijazi
APCO Worldwide
00971521607687
thijazi@apcoworldwide.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Roquette Brings Broad Portfolio of Excipient Solutions and Technical Expertise to AAPS PharmSci 360 202619.10.2026 17:00:00 EEST | Press release
Roquette, a global leader in plant-based ingredients, excipients and pharmaceutical solutions, will showcase its expansive portfolio of excipients, capsules, coatings, and biopharma solutions at AAPS PharmSci 360 2026. The conference and trade show will take place October 26-28 in New Orleans, Louisiana, USA. At Booth 1100 in the exhibit hall, Roquette’s Health & Pharma Solutions team will share their expertise across controlled-release technologies, hydroxypropyl beta-cyclodextrins, and sustainable formulation approaches, alongside a comprehensive portfolio of innovative solutions designed to address the evolving needs of pharmaceutical developers. “AAPS PharmSci 360 is a key opportunity to share our latest innovations, as well as highlight the breadth and depth of our scientific know-how that helps our customers solve complex formulation challenges,” said Peter Freed, Head of Technical Service & Development North America for Roquette’s Health & Pharma Solutions Business Unit. “From a
TestGorilla Survey: Recruiters are Faster with AI, but Not More Confident They’re Finding the Right Candidates19.10.2026 16:00:00 EEST | Press release
AI made finding candidates faster for 72% of US recruiters over the last 12 months, according to TestGorilla's Recruiting in 2026 report, a survey of 1,428 US talent professionals. That speed, however, did not make them any more confident they had found the right person. In fact, of the recruiters that claim AI has made them faster, a third reported no gain in confidence at all, and 18% say their confidence in the match actually fell. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019723138/en/ Recruiters report gains in speed from AI but not in certainty - TestGorilla’s Recruiting in the AI era 2026 report Recruiters are making up the difference themselves, by hand. Of those recruiters, 67% now spend an hour or more manually checking a single candidate before they trust that person can do the job, and nearly 30% spend two hours or more. That is time AI sourcing was supposed to save, not divert to new, extra work. "Recrui
Fortanix Announces Confidential AI for Enterprise Grade Kubernetes Workloads on CNCF® Confidential Containers (CoCo)19.10.2026 16:00:00 EEST | Press release
Fortanix® Inc., a global leader in data and AI security and pioneer of Confidential Computing, today announced support for CNCF Confidential Containers (CoCo) in Fortanix Confidential AI, enabling organizations to run AI workloads on Kubernetes inside hardware-based Trusted Execution Environments (TEEs), on confidential CPUs and GPUs. Enterprises keep the speed and agility of containers while protecting sensitive data, AI models, agents, and applications in use, so they can support their regulatory compliance efforts, scale AI across the business, and adopt frontier AI without compromising data privacy or intellectual property. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019549928/en/ Confidential AI is a critical need in the industry today and a strong ecosystem of industry leaders is collaborating to advance open innovation and help enterprises securely adopt AI at scale. Regulated industries, including financial ser
Lenovo Earns Dual Leader Recognition for IT Sustainability in Latest ISG Provider Lens® Digital Sustainability Reports19.10.2026 16:00:00 EEST | Press release
Lenovo today announced that it has been named a Leader in the IT Solutions quadrant of the 2026 ISG Provider Lens® Digital Sustainability reports for both Europe and the United States, citing the company’s organization-wide approach to IT sustainability, which spans devices, infrastructure and services. The recognition comes as enterprises face the daunting challenge of scaling AI, balancing energy demand, and managing costs and environmental impact as infrastructure needs grow. ISG’s 2026 research estimates the global digital sustainability market to be $34.3 billion—up 12% from 2025. Europe represents 43% of that market, and the U.S. is 33%. Against the backdrop of growing year-over-year demand, Lenovo is broadening its approach to sustainability spanning circular procurement, AI-ready infrastructure, managed lifecycle services and carbon intelligence. Furthermore, Lenovo helps customers consider sustainability throughout the IT lifecycle, from procurement and deployment through oper
Rimini Street to Report Third Quarter 2026 Financial Results on October 29, 202619.10.2026 16:00:00 EEST | Press release
Rimini Street, Inc. (Nasdaq: RMNI), the Software Support and Agentic AI ERP Company™ and the leading third-party support provider for Oracle, SAP and VMware software, today announced it will report earnings after market close on October 29, 2026. The company will host a conference call and webcast on that date to discuss the third quarter 2026 results and the fourth quarter 2026 outlook at 5:00 p.m. Eastern / 2:00 p.m. Pacific time. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019039553/en/ Rimini Street to Report Third Quarter 2026 Financial Results on October 29, 2026 A live webcast of the event will be available on Rimini Street’s Investor Relations site via the Rimini Street IR events link and directly via the webcast link. Dial-in participants can access the conference by dialing 1-800-836-8184. A replay of the webcast will be available for one year following the event. About Rimini Street, Inc. Rimini Street, Inc.
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom