United Arab Emirates Smart Manufacturing Initiative
The Abu Dhabi Department of Economic Development announced a smart manufacturing initiative to diversify its economy and attract foreign companies.
In October 2021 the Abu Dhabi Department of Economic Development (ADDED) announced a new Smart Manufacturing initiative to diversify its economy and attract foreign companies.
This new initiative comes in tandem with the UAE federal “Industry 4.0” initiative of the UAE Ministry of Industry and Advanced Technology. The initiative’s goals are to accelerate the digital capabilities of thousands of local manufacturers through partnerships with leading global tech companies.
The UAE desires to boost manufacturing across the board by 30% and increase GDP by $6.8 billion by 2031.
The Smart Manufacturing Project of the Emirate of Abu Dhabi supports the adoption of new manufacturing technologies by providing new financing solutions through the commercial banking system.
The goal of this Smart Manufacturing Project is to attract new commercial funding so that factories in the Emirate become more automated, safer, and more efficient through innovative technology.
The Industrial Development Bureau (IDB) of Abu Dhabi will start accepting requests to register for the project in February 2022.
IMMEDIATE IMPACT OF THE ABU DHABI SMART MANUFACTURING TECHNOLOGIES PROGRAM:
- This new program will make it easier for the local partners of the U.S. service providers to access funding for innovative projects from UAE commercial banks, especially for high-growth manufacturers of food, electronics, and pharmaceuticals.
- The implementation of this program started in February 2022.
For more information, please contact Office.AbuDhabi@trade.gov.
The U.S. Commercial Service in the UAE offers matchmaking, market research, and other assistance to help U.S. companies looking to enter and expand in the UAE market.