Abu Dhabi’s industrial sector booms with 51% rise in licences
ABU DHABI: New data from the Abu Dhabi Chamber shows a surge in industrial licensing within the emirate (excluding free zones). During 2023, the number of new licences issued jumped 51 per cent, reaching 363 by year’s end. This remarkable growth reflects Abu Dhabi’s rise as a regional industrial powerhouse.
The launch of the Abu Dhabi Industrial Strategy, spearheaded by Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, has further fuelled this transformation. This strategic initiative aims to significantly expand the industrial sector,boostingitscontributiontotheemirate’sgdp.
The Abu Dhabi Industrial Strategy has ambitious goals. It seeks to double the size of the manufacturing sector to Dhs172 billion, create 13,600 skilled jobs, and increase Abu Dhabi’s nonoil exports by 143 per cent to Dhs178.8 billion, by 2031. Furthermore, the strategy seeks to improve the UAE’S ranking in global industrial competitiveness indicators, where the country already holds the top spot regionally and sits at 29th globally (according to the UNIDO Competitive Industrial Performance Index).
Statistics from the Abu Dhabi Chamber reveal a growing presence of foreign companies in the emirate’s industrial sector. In 2023, 46 foreign firms participated in 15 diverse industrial activities. The leading area of involvement is mining support services, atracting 13 foreign companies. Manufacturing sectors like chemicals and basic metals also saw significant foreign participation with 5 and 4 companies respectively.
The range of industrial activities in Abu Dhabi is extensive. It encompasses sectors like wood and wood product manufacturing (excluding furniture); paper and paper product manufacturing; rubber andplasticproductmanufacturing;fabricatedmetal product manufacturing (excluding machinery and equipment); waste collection, treatment, disposal, and material recovery; beverage manufacturing; machinery and equipment manufacturing; food productmanufacturing;othernon-metallicmineral product manufacturing; computer, electronic, and optical product manufacturing; electricity, gas, steam, and air conditioning supply; and water collection, treatment, and supply.
The Abu Dhabi Real Estate Centre (ADREC) – the custodian and regulator of the Abu Dhabi’s world-class real estate sector – has signed a Memorandum of Understanding (MOU) with two leading real estate portals, Bayut and Property Finder, to enhance transparency, efficiency, and decision-making in Abu Dhabi’s real estate sector.
ADREC Acting Director General Rashed Al Omaira said: “We are pleased to sign these two Mous with our partners. This move reflects ADREC’S belief in the importance of forging partnerships with both the public and private sectors, aiming to contribute to the development of an integrated system that serves the centre’s vision of positioning Abu Dhabi as a preferred investment destination. This entails providing innovative services, flexible legislation that aligns with sector needs, and ensuring transparent and accessible data for all stakeholders to support investment decisions”.
In addition, it will help streamline the efforts of the channel partners within the customer purchase journey.