Three leading firms join In-Country Value Programme in UAE
ETISALAT, EMIRATES STEEL AND TAQA FIRST TO JOIN SCHEME TO BOOST GROWTH
The Ministry of Industry and Advanced Technology (MoIAT) signed three separate memoranda of understanding (MoU) with Etisalat, Emirates Steel and TAQA, the Abu Dhabi National Energy Company, as the first three large national companies joining, to mark their commitment to the National In-Country Value (ICV) Programme.
By joining the National ICV programme, which was officially launched by Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, part of the first set of ‘Projects of the 50’, Etisalat, Emirates Steel and TAQA will now prioritize local ICVcertified suppliers above other entities bidding for commercial contracts.
Signatories
The signings were attended by Dr. Sultan bin Ahmed Al Jaber, and Sarah bint Youssef Al Amiri, Minister of State for Advanced Technology.
The respective agreements were signed by Omar Suwaina Al Suwaidi, Undersecretary of MoIAT, Engineer Hatem Dowidar, CEO of Emirates Telecom Group, Engineer Saeed Ghamran Al Rumaithi, CEO of Emirates Steel Industries Company, and Jassim Hussein Thabet, Group CEO and Managing Director of TAQA, the Abu Dhabi National Energy Company.
“Today’s MoU signings mark an important next step for increasing the local content in the UAE’s industrial sector,” said Al Suwaidi. “As we continue building on the momentum of Operation 300 billion , the National ICV Program will be a crucial enabler of localizing and fortifying our robust supply chains.
“Under today’s MoUs, Etisalat, Emirates Steel and TAQA will prioritize suppliers based in the UAE for their commercial tenders, to redirect spending on industrial projects to local companies and increase opportunities for growth in the local market.
The ICV Programme has a proven track record of success. First implemented on a local scale in 2018, the ICV Programme helped redirect Dh88 billion into the UAE’s industrial sector and created more than 2,000 jobs for Emiratis. It also stimulated entrepreneurship and innovation in the small and medium-size enterprises (SMEs) sector.”
“TAQA continues remains committed to adding value to the local market. Our strategy to do this includes significant investments in Abu Dhabi, including, for example, investing an additional Dh40 billion in the transmission and distribution of electricity and water by 2030,” said Jassim Thabet.
“Etisalat is proud to be a partner of MoIAT’s ICV Program, to be a vital contributor to achieving its goals in support of the national industrial sector and local investments, and to help localize products and services that play a key role in the supply chain,” said Eng. Hatem Dowidar.
Contribution
Dowidar added: “Through its ‘Driving the Digital Future to Empower Societies’ strategy, Etisalat is keen on contributing to the acceleration of local economic growth and providing locally advanced technologies and world-class digital solutions through national capacities to accelerate the digital transformation of all entities and industries.”
The MoUs with Etisalat, Emirates Steel, and TAQA add further impetus to MoIAT’s mission to propose and prepare policies, strategies, legislation, and programs that enhance local industrial content, generate in-country value and enhance the UAE’s global competitiveness.