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The Ministry of Industry and Advanced Technology’s National Content programme, one of the UAE’s 50 Projects, achieved a qualitative leap in the first half of this year as its scope of application expanded, with more than AED48 billion reinvested into the national economy, confirming the importance of the drivers and incentives provided to support the growth, competitiveness and prosperity of the country’s industrial and service companies.
The Ministry of Industry said in a statement yesterday that the scheme has been expanded to include 31 federal and local government agencies, as well as many of the country’s major state-owned enterprises.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said that the National Content Program is a fundamental pillar in enhancing the capabilities of the country’s industrial sector and plays a vital role in strengthening the business system and competitiveness. In addition to supporting the goals of “We Are UAE 2031” and “UAE Centennial 2071”, it also creates thousands of job opportunities for national cadres.
Al Jaber explained that as of mid-2024, investments by companies that received certificates under the programme amounted to approximately AED205 billion, a 20% increase over the same period last year, reflecting the economic impact of the programme, both in terms of the UAE’s investment attractiveness and the stimulating investment environment it provides to attract more foreign and local industrial investment.
He pointed out that the amount successfully transferred to the national economy by the program in the first half of this year (AED48 billion) exceeds the total achieved by the program for the whole of 2021 (AED41.4 billion), which shows that the spending of national companies on local procurement and services is growing every year, with its value reaching AED53 billion in 2022, an increase of 25% over 2021, and will reach AED67 billion in 2023, a growth rate of 26%, stimulating interest rates for companies and suppliers and reflecting the great opportunities that the industrial sector offers to investors.
Al Jaber pointed out that the social impact of the National Content Programme is no less than its economic impact, as the number of Emiratis working in companies with National Content Programme certificates reached about 19,000 Emiratis by the first half of 2024, a 40 percent increase from 6,180 jobs in 2020, when the ministry was established, in the first half of 2023, in addition to the creation of up to 13,000 new jobs in three and a half years. By keeping these billions in the domestic market, promising investment opportunities will be obtained, especially for SMEs and Emirati entrepreneurs.
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