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
Fasset Hits $1B Valuation as SBI Group Leads $68M Series C to Scale AI-Powered Stablecoin Neobanking24.8.2026 09:03:00 EEST | Press release
Fasset, the AI-powered stablecoin neobanking platform, today announced it has raised $68 million in Series C funding at a $1 billion valuation. The financing was led by SBI Group and follows Fasset’s $51 million Series B earlier this year, which brought Speedinvest onto the cap table alongside a group of strategic investors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260823503947/en/ Mohammad Raafi Hossain, Co-Founder and CEO, Fasset The new capital will support the expansion of Own Network, Fasset’s regulated financial network that connects banks, telcos, payment and liquidity providers to enable settlement across international markets. Fasset will also increase investment in agentic AI-enabled systems supporting corridor banking, stablecoin settlement and tokenized asset infrastructure. After raising Series B in May, Fasset has now raised a total of $119 million in 2026. The financing marks Fasset’s entry into the glob
Zanders Expands DACH Region with New Office in Vienna, Austria24.8.2026 08:11:00 EEST | Press release
Zanders, the global treasury, risk, and technology consultancy, today announced a significant expansion of its DACH region with the opening of a new office in Vienna. The move builds on Zanders' continued growth across Germany, Austria, and Switzerland, and marks another step in the firm's strategy of deepening its presence in the markets where client demand for specialized treasury, risk, and corporate finance advisory is growing fastest. DACH has been one of Zanders' priority regions for several years, with the firm steadily expanding its team and client base across Germany and Switzerland. Austria represents a natural next step in that growth: in conversations with clients in the market, Zanders has seen growing interest in treasury transformation and financing support, as companies work through interest rate volatility, refinancing needs, and a broader shift toward more digitized, centralized treasury operations. The new Vienna office allows Zanders to be closer to clients' operati
Novotech Strengthens Presence in Japan with Opening of Tokyo Office24.8.2026 02:01:00 EEST | Press release
Novotech, a leading global biotech CRO and full-service clinical research organization, has strengthened its established presence in Japan with the opening of a new office in Tokyo. The investment builds on Novotech’s existing operations and clinical trial activity in Japan and further enhances its ability to support Japanese biopharma companies as they advance programs regionally and across key international markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260823592174/en/ Takeshi Mori, Novotech Country Head, Japan The Tokyo office will serve as a strategic hub for Novotech’s growing operations in Japan, providing enhanced local expertise and strengthening collaboration with clients, partners, research institutions, and innovation ecosystems across the region. Novotech is currently supporting ongoing studies in Japan and provides sponsors with integrated support across early-phase clinical development in Australia, F
FDA Authorizes ZYN ULTRA Nicotine Pouches Following Scientific Review21.8.2026 22:11:00 EEST | Press release
Philip Morris International Inc. (NYSE: PM) today announces that the U.S. Food and Drug Administration (FDA) issued Marketing Granted Orders to PMI’s U.S. affiliate, Swedish Match USA, Inc., authorizing the marketing of 11 ZYN ULTRA moist oral nicotine pouch products, including all 9mg variants and one 11mg variant. Additional 11mg variants remain under scientific review. Today’s action further enhances PMI’s leadership role in the smoke-free category. “We are delighted with the FDA’s decision to authorize a range of ZYN ULTRA products, which will build on ZYN’s position as America’s leading smoke-free product brand,” said Stacey Kennedy, PMI U.S. CEO. “We look forward to expanding our portfolio of better choices for the 45 million Americans who consume nicotine products.” ZYN ULTRA positions the brand to further extend its category leadership among legal-age consumers of nicotine products. Like the flagship FDA-authorized ZYN pouches, ZYNULTRA, with its higher moisture content, is fre
58% of Consumers Say They Don't Care Whether a Product is a National Brand or Private Label. They Just Buy What They Need21.8.2026 13:00:00 EEST | Press release
As fast-moving consumer goods (FMCG) prices rose 26% globally between 2021 and 2025, consumers have become more deliberate about where they save and where they spend. NielsenIQ (NYSE: NIQ) has released new findings showing that private label is no longer viewed simply as a lower-cost substitute, but as a credible competitor across value, mainstream, and premium segments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260819950224/en/ Private label is no longer just a value play. The findings, published in NIQ’s latest report, A Tale of Two Consumers: The Polarized Mindsets Reshaping Global Consumption, created in collaboration with World Data Lab, show how consumer polarization is redefining value and reshaping competition on the shelf. The report also draws on insights from NIQ's 2025reportFinding Harmony on the Shelfwhich documented changing perceptions of private label products. Key findings from these reports include: 58
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