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Third Make it in the Emirates Forum facilitates five strategic announcements and signing of 82 agreements

 
Third Make it in the Emirates Forum facilitates five strategic announcements and signing of 82 agreements
  • More than 6 thousands attendees from investors, industrialists, and innovators
  • More than 200 organizations, entities, and financial institutions
  • 82 agreements were signed between government entities and manufacturers

Abu Dhabi-UAE. 29 May 2024 – The third edition of the Make it in the Emirates (MIITE) Forum and exhibition, organized by the Ministry of Industry and Advanced Technology (MoIAT) in collaboration with the Abu Dhabi Department of Economic Development (ADDED) and ADNOC, concluded on Tuesday. The two-day event in Abu Dhabi was attended by six thousand investors, industrialists, innovators and experts and featured 200 leading companies and financial institutions in the UAE.

The third MIITE Forum witnessed five strategic announcements, including an additional AED 23 billion worth of procurement opportunities for local manufacturing, raising the total value generated by the three editions of the forum to AED 143 billion, comprising more than 2,000 products. This includes AED 20 billion allocated by ADNOC, and AED 3 billion by PureHealth.

During the forum, AED 20 billion worth of new investments in industrial projects were announced, alongside competitive electricity prices for industrial companies in Ajman, Ras Al Khaimah, Umm Al Quwain, and Fujairah under a partnership between the Ministry of Energy and Infrastructure and the Etihad Water and Electricity.

The event a marked the introduction of AED 1 billion in solutions via a co-lending financing between Emirates Development Bank (EDB) and commercial banks to empower industrial companies.

The event also launched the AI Innovation Program, an initiative designed to support startups  on AI integration which is backed by EDB with a AED 370 million fund.

The third MIITE Forum showcased the achievements of local industrial companies, along with the incentives that bolster and attract industrial investments to the country. It highlighted the country’s support for the local manufacturing of essential products and materials.

The exhibition that accompanied the forum showcased 300 products that came as a result from Make it in the Emirates initiative, National ICV-Program, and import substitution efforts by national and international companies. These included innovative solutions designed to support the development of the industrial sector and boost food security.

The forum underscored the pivotal role of AI as a cornerstone of the country’s strategic direction and in raising efficiency, productivity, and competitiveness.

The forum further cemented the UAE’s position as a key global platform for collaboration among institutions, companies, and financial institutions. The third edition witnessed the signing of 82 MoUs and agreements between government entities and leading industrial companies.

The forum featured the launch of Transform 4.0, a program aiming to accelerate the adoption of advanced technology in industry through developing a roadmap for 100 industrial companies. This initiative aims to enhance the competitiveness of national industries, elevate productivity, improve operational efficiency, and foster sustainable growth opportunities. Ultimately, it aims to support the digital economy by leveraging knowledge, technology, and innovation.

The Ministry announced the three winner of Make it in the Emirates Start-Up Pitch Competition covering the two categories of additive manufacturing and decarbonization.

The forum supports sustainable economic development and promotes self-sufficiency, localization and resilience in value chains, particularly by driving the adoption of advanced technology, Fourth Industrial Revolution solutions and AI applications. Furthermore, the forum serves as a platform for empowering Emirati talent in the industrial sector.


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 6019 times
PR Category : Government, Legal & Humanity
Posted on : Thursday, May 30, 2024  10:15:00 AM UAE local time (GMT+4)
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