UAE’s In-Country Value Projects Driving Billions to Local Firms
1.6.2023 19:40:00 EEST | Business Wire | Press release
More than $27.23 billion has been redirected to the local economy since the UAE Ministry of Industry and Advanced Technology (MoIAT) and ADNOC launched major in-country value programs to support domestic industries.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230601005886/en/
Sideline of Make It In The Emirates Forum (Photo: AETOSWire)
Speaking at the Make in the Emirates Forum today, His Excellency Abdulla Al Shamsi, Assistant Undersecretary of MoIAT, said more than $14.43 billion of investment was redirected to the local economy last year alone, an increase of 25 percent year-on-year.
“The National In-Country Value Program is a nationwide program that speaks one language across many different sectors,” HE said. “It’s one methodology and this is something we’re very proud of because it benefits the private sector and when the private sector sees this it helps them prepare, invest, and spend.”
The forum heard how the National ICV Program is “functionating well and accelerating.”
The forum also heard how industrial zones are playing a critical role in the in the country’s sustainable industrial development and broader economic prospects. Local industrial leaders described how they are utilizing alternative energy resources such as solar and hydrogen to reduce their carbon footprint.
The second edition of the Make it in the Emirates Forum concluded on Thursday with the UAE showcasing its unique value proposition to international investors.
Investors were invited to explore opportunities and competitive advantages, with panel discussions focusing on the National In-Country Value (ICV) Program, the role of industrial zones, competitive financing as a key enabler and local talent in the private sector.
The UAE’s industrial exports reached $47.6 billion in 2022, growing 49 on 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 the Abu Dhabi Department of Economic Development (ADDED) and ADNOC.
On the first day of the forum, the UAE government announced $2.7 billion in industrial offtake agreements, building on the $29.9 billion of offtake agreements announced at the 2022 edition of the forum.
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/20230601005886/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
K2 Partnering Solutions Appoints Srinivas Rao as Chief Executive Officer16.2.2026 11:00:00 EET | Press release
K2 Partnering Solutions, a global leader in consultative technology and talent solutions, today announced the appointment of Srinivas Rao as Chief Executive Officer. Srinivas is a seasoned global executive with more than 28 years of experience driving value creation, scalable growth, and operational transformation across digital, consulting, IT services, and business services. He brings deep expertise in leading complex, multi-market organisations and has successfully scaled $800M+ P&Ls, working closely with boards, sponsors, and executive leadership teams across the USA, UK, Europe, the Middle East, and APAC. Most recently, Srinivas served as Chief Business Officer and a member of the Executive Council at LTIMindtree, where he was accountable for growth acceleration, market expansion, strategic customer relationships, and operating performance across a highly complex regional footprint. During his tenure, he played a pivotal role in strengthening go-to-market execution, driving margin
Klarna Launches on Google Pay in the UK16.2.2026 10:00:00 EET | Press release
Klarna, the global digital bank and flexible payments provider, is now available on Google Pay in the UK. Google Pay users in the U.K. can choose Klarna’s interest-free payment options at checkout. Raji Behal, Head of Western and Southern Europe, UK & Ireland at Klarna, said, “We’re really excited to bring Klarna’s fair, flexible and interest-free payment options to Google Pay users. This is a big moment for us and a major step towards our goal of being available at every checkout, everywhere. Together with Google, we’re making it easier than ever for millions of shoppers to choose Klarna and pay in a smarter, more transparent way — all from their phone.” Lisa Yokoyama, Director of Product Management at Google Paysaid: "Expanding our collaboration with Klarna to the U.K. underscores our goal to empower more people with the flexibility to pay how they choose. With people shopping on Google over a billion times a day, this broader footprint provides even more checkout options to help bus
Italy Sees Economic Boost From the Opening Weekend of the Olympic Winter Games Milano Cortina 202616.2.2026 10:00:00 EET | Press release
Visa, the Official Payment Technology Partner of the Olympic and Paralympic Winter Games, today released new data revealing consumer spending patterns in the Winter Games host locations1 during the opening weekend of the Olympic Winter Games Milano Cortina 2026. VisaNet data analysed by Visa Consulting & Analytics (VCA) shows the positive impact that Milano Cortina 2026 is having on commerce: Overseas Visa cardholders visits rose by more than 60%, with the largest share of visitors coming from the U.S. (+160% year-on-year), followed by China, Brazil, Canada and Japan. In Europe, Visa cardholders from Germany represent the largest share of visitors (31% year-on-year increase), followed by Switzerland, France and the UK. International Visa cardholders spent more than in the previous year, with the U.S. leading the year-on-year growth with a 125% increase in their spending, followed by Canada and Switzerland. Visitors from Germany, China and the U.S. ranked as the top spenders, with an av
New ECCO data show subcutaneous (SC) infliximab (Remsima ™ SC) effectively recaptures and maintains disease control after drug holiday16.2.2026 09:00:00 EET | Press release
Celltrion, Inc. today announced new data from a post-hoc analysis of the pivotal LIBERTY studies (LIBERTY-CD and LIBERTY-UC), showing that subcutaneous (SC) infliximab restored and maintained response in most Crohn’s disease (CD) and ulcerative colitis (UC) patients with sustained efficacy, safety, and persistence through to Week 102.1 The data will be presented as a poster presentation at the 21st Congress of the European Crohn’s and Colitis Organisation (ECCO), to be held from February 18-21 in Stockholm, Sweden. “As immunogenicity is the most significant concern when restarting treatment with infliximab after an interruption, these results suggest that treatment persistence was maintained even in patients with immunogenicity,” said Dr. Marla Dubinsky, Professor of Pediatrics and Director of the IBD Center at the Icahn School of Medicine at Mount Sinai. “It's reassuring to see that not only can we effectively recapture disease control with a convenient subcutaneous option, but that t
Galderma Announces Appointment of New Chief Financial Officer16.2.2026 08:00:00 EET | Press release
Galderma Group AG (SIX:GALD), the pure-play dermatology category leader, today announced the appointment of Luigi La Corte as Chief Financial Officer (CFO), effective May 1, 2026. Luigi La Corte will join Galderma on April 1 to begin a smooth and orderly transition with Thomas Dittrich, who has served as CFO of Galderma since October 2019. As previously announced, Thomas will remain with the company through Q2 2026 to ensure a seamless transition before pursuing another senior executive opportunity outside the organization. “Luigi La Corte is an accomplished financial leader with deep experience across global healthcare and consumer organizations. I am delighted to welcome him to the Executive Committee and look forward to working with him closely as we continue to execute our Integrated Dermatology Strategy and extend our category leadership in dermatology. I would also like to thank Thomas for his commitment to ensuring a seamless transition and his many contributions to Galderma dur
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