Abu Dhabi has announced the launch of a new initiative to drive technological change in the emirate’s growing manufacturing sector.
The Abu Dhabi Department of Economic Development (ADDED), represented by the Industrial Development Bureau (IDB), has announced the launch of the Smart Manufacturing Project which supports the adoption of new technologies by manufacturing facilities.
The project aims to develop and enhance the productivity of manufacturing enterprises in Abu Dhabi while also accelerating commercial business growth.
The project also aims to improve the competitiveness of the manufacturing sector of the emirate.
Rashed Abdulkarim Al Blooshi, ADDED’s Undersecretary, said the initiative encourages the industrial sector to adopt Industry 4.0 applications by providing new financing solutions through the commercial banking system to fund the transformation of factories.
He said that the project specified a number of performance indicators to ensure the achievement of its objectives including an increase in financing opportunities by local banks and banks specialised in industrial financing, with a special focus on the sectors adding high value, as well as implementing several awareness programmes and workshops.
Mohammed Munif Al Mansouri, executive director of the IDB, said food, chemical, electronic and electrical, pharmaceutical and transportation industries were among those targeted by the smart project.
The first phase will focus on small-sized enterprises (with annual returns less than AED50 million and workforce size ranging between 10 and 100, in addition to medium-sized firms with annual returns less than AED250 million and workforce up to 250.
Earlier this year, Abu Dhabi launched a trade initiative aimed at increasing the visibility and brand trustworthiness of products made in the emirate.
The IDB announced that the Made in Abu Dhabi brand will be added to all industrial licences issued to factories and manufacturing companies located in the emirate.
More than 50 new industrial facilities went into production in Abu Dhabi last year despite the impact of the global coronavirus pandemic as the sector contributed over 10 percent to the emirate’s non-oil GDP.
A report, issued by the IDB in March revealed that the emirate saw a total investment of AED3.9 billion during 2020, with 35 facilities launching in Abu Dhabi, 11 in Al Ain and five in Al Dhafra.