Financing for 22 companies with facilities exceeding 700 million dirhams during 2021

“Industry”: a program to build the capacities of citizens who own small projects

The Ministry of Industry and Advanced Technology revealed the implementation of a new program to build the capacities of citizens of small and medium enterprises and entrepreneurs in order to increase the number of Emirati entrepreneurs, support their small and medium companies and increase their ability to overcome any obstacles.

The ministry explained, in its annual report for 2021, that funds were provided to 22 companies in the priority industrial sectors, and the value of the financing facilities exceeded 700 million dirhams during 2021, through the Competitive Financing Solutions Initiative, in cooperation with the Emirates Development Bank, noting that the volume of financing provided From the Emirates Development Bank, amounting to 10 billion dirhams to shift to the use of advanced technology and support Emirati projects in priority industrial sectors within five years.

Value Added

The Minister of Industry and Advanced Technology, Dr. Sultan bin Ahmed Al Jaber, said that “the implementation of the National Value Added Program at the federal level has achieved great success, as 300 new companies obtained the program’s certificate during 2021, in addition to the joining of 45 government agencies and 13 institutions to the programme. He succeeded in redirecting about 41.4 billion dirhams of purchases and services to the national economy during the past year.

Al Jaber added: “The results of 2021 reflect the UAE’s industrial sector achieving a qualitative leap in the UAE’s industrial exports, which were estimated at 120 billion dirhams, which are results achieved for the first time in the history of the industry sector, and this coincided with the UAE’s advancement of five ranks globally in the performance index. The Industrial Competitiveness Report issued by the United Nations Industrial Development Organization (UNIDO) according to the 2021 assessment.

Al Jaber stressed that the ministry has made strides in modernizing and developing the standards and metrology system and quality infrastructure, ensuring effective participation of its partners in the system of preparing standards and legislation, and enhancing the competitiveness of Emirati products in the local and global markets, noting that the "food labeling policy" is one of these initiatives that will save the sector The food and beverage industry in the country will reach 1.4 billion dirhams over the next five years as a result of amending the implementation of the policy recently approved by the Council of Ministers.

future sectors

For her part, Minister of State for Advanced Technology, Sarah bint Yousef Al-Amiri, said, “The ministry focuses on preparing future sectors to lead its national role in the industrial sector, which will positively reflect on the country’s readiness to become a global destination for pioneering future industries, as the year 2021 witnessed a number of initiatives. And the main projects aimed at adopting advanced technology and stimulating innovation in the industrial sector, which include the Fourth Industrial Revolution Program (Industry 4.0) and the Advanced Technology Financing Program in partnership with the Emirates Development Bank.

16 initiatives and projects

The National Strategy for Industry and Advanced Technology included more than 16 initiatives and projects to achieve four main objectives: creating an attractive business environment for local and international investors in the industrial sector, supporting the growth of national industries, enhancing their competitiveness, stimulating innovation, adopting advanced technology in industrial systems and solutions, and enhancing the country’s position as a global destination To lead the industries of the future.

Through the “National Value Added Program”, the industrial development sector achieved a qualitative leap in the number of entities joining the program, which increased by an average of 13 leading national institutions that joined the program in 2021, in addition to the 45 federal government entities, and 300 new companies obtained the National Value Added Certificate. The total number of companies reached 5,300, and it also contributed to creating 1,000 jobs for citizens.

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