(MENAFN- Khaleej Times) A total of 16.6 per cent more new industrial licences were granted in Abu Dhabi in the year to June than in the same period of 2021/22, the government's media office said on Tuesday. The rise coincided with the first year of operation of the emirate's new industrial strategy, it said. Capital investments by manufacturers operating in the emirate grew by Dh12.42 billion ($3.38 billion) to Dh384.06 billion over the same period.
Launched by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, in June 2022, the Abu Dhabi Industrial Strategy (ADIS) has accelerated the transformation of the emirate's manufacturing sector, strengthening its position as the region's most competitive industrial hub within its first year.
Increased activity has been registered across all three stages of Abu Dhabi's manufacturer licensing journey: Rowad (initial licence to establish an industrial company), construction (to begin constructing an industrial facility) and production (to commence operations).
The 12-month period from July 2022 to June 2023 recorded a 16.6 per cent increase in the number of new industrial Rowad licences granted in Abu Dhabi, from 204 to 238. Around 116 new Rowad industrial licences were issued during H1 2023 alone, an increase of 63.3 per cent from the number issued in H1 2022.
Preliminary estimates from the first half of this year indicate growth in Abu Dhabi's manufacturing sector, with an increase in the number of investors and new industrial projects. Some 116 new industrial licences were issued during the first half of 2023, an increase of 63.3 per cent from the same period last year. The number of operational manufacturers in the emirate now stands at 966, up from 922 manufacturers at the end of the first half of 2022, Added (Abu Dhabi Department of Economic Development) said in its one-year industry update.
Ahmed Jasim Al Zaabi, Chairman of the department of economic development, said: "Guided by our leadership's foresight and unwavering commitment, Added is doubling down on its efforts to enhance Abu Dhabi's competitiveness through a new multi-polar economic strategy, where the industrial strategy sits at its core. As an ambitious blueprint to guide the emirate's manufacturing sector, the Abu Dhabi Industrial Strategy has ushered in a new era in the economic landscape that leverages innovation and advanced technologies to harmonise human development, sustainability, and growth."
Al Zaabi added: "The robust performance of the manufacturing sector is testament to Abu Dhabi's ongoing economic resilience. Our manufacturing sector, which contributed 16.4 per cent to Abu Dhabi's non-oil GDP in 2022 and represents 49.9 per cent of the total industrial sector in the UAE, is moving from strength to strength, powered by successful implementation of the industrial strategy's transformational programmes to enhance the sector's competitiveness by increasing access to financing, enhancing ease of doing business, and attracting domestic and foreign direct investments." - With inputs from Wam
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