The Abu Dhabi Department of Economic Development (ADDED) said it will provide 100 investment opportunities, with a combined market size of $33.5 billion (AED123.3 billion) by 2027.
The new initiative under the ‘Abu Dhabi Channel Partners’, launched as part of Abu Dhabi Industrial Strategy’s (ADIS) programme, is to enhance the emirate’s industrial ecosystem, Ahmed Jasim Al Zaabi, Chairman of ADDED, said.
The department will soon announce detailed guides of investment opportunities and tailored incentives packages to address the needs of key players and investors, he said.
Addressing the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), the World’s largest and most inclusive gathering for the energy industry, on Monday, Al Zaabi said the new batch of ‘Abu Dhabi Channel Partners’ programme to incentivise investors in the thriving chemical industries will include 33 investment opportunities with a combined market size of AED22.08 billion ($6 billion) by 2027.
The programme has identified a set of investment opportunities in the 7 manufacturing subsectors – food processing, pharmaceuticals, chemicals, electrical, electronics, machineries and equipment, and transportation.
The detailed guide for the 33 investments in the chemical industries highlights Abu Dhabi’s unique value propositions, and growth opportunities in the industry, in the light of growing focus to increase home-grown chemical industries.
The compound annual growth rate (CAGR) of investments opportunities identified in the chemical industries ranges between 2 percent and 14 percent during the period 2022-2027.
Al Zaabi said: “In just one year since its launch in June 2022, ADIS has led the sector to achieve remarkable growth in different areas. During these 12 months, the number of new industrial licenses granted in Abu Dhabi increased by 16.6 percent, while investments of factories moving into the production phase skyrocketed over 85 percent.”
The number of active manufacturers in the emirate rose nearly 5 percent to 960 factories.
The manufacturing sector plays a key role in the emirate’s diversification efforts that have led to a stellar growth of non-oil sectors, he added.
Last year, the non-oil exports grew by 26 percent, while the average annual growth rate of non-oil exports between 2016 and 2022 stood at 6 percent across all sectors.
“Supported by ADIS initiatives, we are targeting to increase non-oil exports to AED 178.8 billion by 2031,” he said.
ADDED’s ‘Abu Dhabi Channel Partners’ programme
In May 2023, ADDED announced the first batch of incentives under ‘Abu Dhabi Channel Partners’ programme, which includes 20 investment opportunities in the food processing sector in Abu Dhabi with a combined market size of about AED 29.4 billion ($8 billion) by 2027.
Launched by ADDED’s Industrial Development Bureau (IDB), the ‘Abu Dhabi Channel Partners’ programme aims to increase the emirate’s global competitiveness, attract new foreign and domestic direct investments, facilitate transfer of technology, knowledge, and expertise, and increase the industrial sector’s contribution to Abu Dhabi’s non-oil GDP.
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