UAE Pledges Additional $2.7bn in Industry Offtake Agreements, Invites Global Investors to Leverage Incentives
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
Nordic Firms Seek Sovereign Clouds for Compliant Modernization22.1.2026 11:00:00 EET | Press release
The multi public cloud services market in the Nordics has entered a defining phase as enterprises shift from selective use of the cloud to comprehensive, compliance-driven and AI-native multicloud operating models, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm. The 2025 ISG Provider Lens® Multi Public Cloud Services report for the Nordics finds that cloud adoption across the region has moved beyond basic workload migration as companies embrace sovereign cloud models that guarantee jurisdictional control and encryption frameworks. This change reflects the impact of tightening EU regulatory frameworks that require data residency, transparency and responsible AI adoption in regulated industries and the public sector. As a result, enterprises are building compliant cloud environments that support AI-enabled modernization initiatives. “The Nordics has emerged as one of Europe’s
Vonage Network APIs Pave the Way for Freenow by Lyft to Advance Urban Mobility Innovation22.1.2026 09:00:00 EET | Press release
Vonage, a part of Ericsson, and Freenow by Lyft, a leading taxi and multi-mobility app in Europe, have expanded their partnership with the launch of Vonage Silent Authentication API for customers based in the U.S. Vonage Network APIs enable Freenow by Lyft to tap into real-time network data and insights, helping prevent fraud through seamless user verification, ensuring reliable, efficient, and secure interactions for its customers and drivers. Network intelligence is becoming a critical layer of defense in the transportation space as fraud threats become more sophisticated and targeted. Enterprises worldwide lost 7.7% of their annual revenue on average due to fraud over the past year, representing an estimated $534 billion in losses.¹ With scam/authorization fraud, synthetic identity fraud, and account takeover as the leading cause of business loss, the need for advanced security measures continues to grow. “Launching Vonage Silent Authentication API for the U.S. customers marks a tra
Daiichi Sankyo Appoints New Leadership at the Daiichi Sankyo Translational Research Center Europe22.1.2026 08:30:00 EET | Press release
Daiichi Sankyo (TSE:4568) has appointed Veronika Rozehnal, Ph.D., to succeed Jürgen Müller, Ph.D., as the Head of the Translational Research Center Europe. Dr. Jürgen Müller will retire after nearly 30 years of research work at Daiichi Sankyo. Under his leadership, the Translational Research Center Europe, previously called the Tissue and Cell Research Center Munich, has grown from three to 40 researchers since it was founded in 1997 and has become an internationally recognized institution that plays a strategic role in the global innovation process of Daiichi Sankyo. Dr. Veronika Rozehnal joined Daiichi Sankyo in 2009 and has held various positions at the Translational Research Center Europe in addition to spending three years at the Daiichi Sankyo R&D Center in Tokyo. Dr. Rozehnal graduated from Ernst-Moritz-Arndt University of Greifswald, Germany with a Ph.D. degree in Clinical Pharmacology. “Jürgen Müller has made significant scientific contributions that have helped Daiichi Sankyo
I Squared Announces Launch of Radiant Energy Solutions22.1.2026 08:00:00 EET | Press release
I Squared Capital (“I Squared”), a leading global infrastructure investment manager, announced today the launch of Radiant Energy Solutions (“Radiant”), an investment from I Squared’s Middle East infrastructure strategy, which is focused on targeting transformational, mid-market investments in the region. Reflecting I Squared’s platform-building approach of starting with a core initial investment and scaling over time to build market-leading businesses, Radiant marks the firm’s entry into the Middle East distributed renewables market, providing decarbonization solutions to commercial and industrial customers. The investment for Radiant is the acquisition of FAS Renewables and its 100% owned subsidiary Zahra Energy, a Saudi Arabia–based distributed solar company with a secured and advanced portfolio of over 100MWp of distributed solar projects with established customers and long-term contracted solar power purchase agreements. These include Cenomi Centers, an owner, operator, and develo
IMCAS 2026: Galderma Showcases the Latest Scientific Advances Behind the Industry’s Broadest Injectable Aesthetics Portfolio22.1.2026 08:00:00 EET | Press release
Galderma (SIX: GALD) will present ten posters with the latest updates from across its broad aesthetic portfolio spanning regenerative biostimulation, HA and neuromodulator treatments at the International Master Course on Aging Science (IMCAS) 2026 World Congress in Paris, France, from January 29-31, 2026. The company will also showcase its leadership in community education through a number of events including two symposia, a live anatomy workshop, multiple masterclasses and meet-the-expert sessions, and a booth that will delve into the science behind its innovations. “With ten posters spanning all key aesthetic treatment modalities and areas across the face and body, our data at IMCAS truly showcases the breadth and versatility of our injectable aesthetics portfolio and how we continue to drive innovation with our trusted products. In tandem with our first-class Galderma Aesthetic Injector Network (GAIN) educational activities, conducted in partnership with renowned experts, we are equ
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