The Ministry of Industry and Advanced Technology (MoIAT) and DUBAL Holding, the investment arm of the Dubai Government in the commodities, mining, power, energy, and industrial sectors, have signed an agreement to foster industrial cooperation and explore opportunities.
The agreement is expected to pave the way for DUBAL Holding to accelerate its commitments to invest in promising projects in the non-ferrous metals, industrial, power and energy value chain, with focus on recycling, sustainability, and technological innovation.
The agreement was signed by Omar Al Suwaidi, under-secretary of MoIAT, and Ahmad Hamad bin Fahad, CEO of DUBAL Holding LLC, in the presence of Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Sarah bint Yousif Al Amiri, Minister of State for Public Education and Advanced Technology, Wam reported.
According to Al Suwaidi the agreement will support the development of the UAE as a global industrial hub.
“By offering incentives to companies as part of our unique value proposition, MoIAT and its partners are creating significant growth opportunities for manufacturers. We see DUBAL Holding as one of the key national industrial vehicles in advancing this growth,” Al Suwaidi said.
The UAE’s competitive advantages make doing business easy and enable companies to adopt the technologies and attract the talents needed to thrive, he added.
Bin Fahad said the agreement was an important step towards cooperation that will foster the advancement of industries and sustainable technology, which is significant in diversifying the economy and overall development of the country.
The agreement was signed at the two-day ”Make it in the Emirates” forum held in Abu Dhabi, which ended on Wednesday.
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