- Emirates and Jordanian companies begin implementing pharmaceutical projects.
- Eight projects are in advanced stages of feasibility and implementation, and five more are underway.
Manama-Bahrain: – In the presence of His Excellency Sheikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister of the Kingdom of Bahrain, the fourth meeting of the High Committee on Industrial Partnership for Sustainable Economic Development was held today in Bahrain. It started in Manama. During this process, the Kingdom of Morocco became the fifth country to join the partnership aimed at strengthening regional industrial integration.
The meeting was attended by His Excellency Abdullah bin Adel Fakhro, Minister of Industry and Commerce of Bahrain, His Excellency Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and His Excellency Engineer Ahmed Samir Saleh, Minister of Egypt. It was held with the participation of His Excellency Youssef Al Shammari, Jordanian Minister of Industry, Trade and Supply, and His Excellency Riyad Mazour, Minister of Industry and Trade of Morocco.
The Industrial Partnership for Sustainable Economic Development Executive Committee will meet on January 10, 2024 with officials from partner countries, including the Deputy Ministers of Industry and Trade, to discuss the progress of current projects and new proposals. We talked.
The industrial partnership has received strong support from member countries since its launch in Abu Dhabi in May 2022. UAE President His Highness Sheikh Mohammed bin Zayed Al Nahyan praised the partnership’s role as a framework for cooperation and integration in the region, which will now accelerate. Sustainable development, strengthening resilience to crises and increasing self-sufficiency, especially in critical areas such as food, health, energy and industry. The launch ceremony was witnessed by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, His Excellency Dr. Bishar Al-Qassone, Prime Minister of Jordan, and His Excellency Dr. Mustafa Madbouly, Prime Minister of Jordan. I did. Minister of Egypt.
$2.2 billion in partnerships and projects
During the talks, NWTN Motors’ strategic partners W Motors of the UAE and Manasir Group of Jordan signed an agreement to establish an electric vehicle manufacturing plant in Jordan with an investment of $80 million.
Additionally, Manasir Group and Bahrain’s Alba signed a Memorandum of Understanding (MoU) to supply 13,000 tons of aluminum fluoride per year, contributing to an import substitution value of $20 million. Alba, Bahrain, also signed a memorandum of understanding with Jordan Phosphate Mine for silica supplies, contributing $66 million in import substitution.
Bahrain Steel has signed a supply agreement with Emirates Steel and will purchase 2 million tonnes worth of raw materials over five years. A Memorandum of Understanding was also signed between the UAE Ministry of Industry and Advanced Technology (MoIAT) and Bahrain’s Ministry of Industry and Commerce, leveraging the UAE’s National Domestic Value (ICV) programme. This initiative is designed to share best practices for local content programs.
His Excellency Abdullah bin Adel Fakhro, Minister of Industry and Commerce of Bahrain, expressed the commitment of the Government of Bahrain to the development of the industrial sector, embodied in the event to be held in Manama under the patronage of His Royal Highness Crown Prince Salman bin Hamad Al Khalifa. He emphasized his efforts. Prince and Prime Minister of the Kingdom of Bahrain. He noted the role of this event in achieving industrial integration among member countries in line with Bahrain’s Industrial Sector Strategy 2022-26.
His Excellency said: “During this meeting, a Memorandum of Cooperation under the National Domestic Program was signed between the Ministry of Commerce and Industry and the UAE’s Ministry of Industry and Advanced Technology, which are key industrial enablers of domestic procurement competitiveness and import substitution.” Both countries. “
His Excellency welcomed Morocco, an important industrial and economic player in the region, to join the partnership.
In his opening remarks of the meeting, His Excellency Al Jaber, together with the greetings of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, expressed his wishes for further success of the partnership, especially in strengthening relations between the countries. I told you. Leverage your competitive advantage.
“We welcome the addition of the Kingdom of Morocco to the partnership, given its leading industrial and economic position and achievements in various sectors, particularly industry, which are of vital importance in supporting investment opportunities,” he said. “In the Emirates, we believe it is important to form strategic partnerships.” is a fundamental pillar for achieving national economic, social and development goals, and this integrated industrial partnership, which launched in Abu Dhabi in May 2022, is a model for successful regional partnerships.
“We are pleased to witness the announcement and signing of five new projects and export agreements in priority sectors worth a total of approximately $2.2 billion, strengthening our cooperation with the UAE Ministry of Industry and Advanced Technology and the Bahrain Ministry of Industry and Commerce.” National ICV Work with the program. ”
He added: “The new project will integrate the two countries, build a common industrial base, support supply chain flexibility, reduce production costs, strengthen research and development, and develop the capacity of a new generation in industrial and technological fields.” “They are contributing to the creation of thousands of jobs in the industrial sector. We look forward to launching more innovative projects to achieve the strategic goals of the partnership.” I am.”
He said: “This partnership represents a significant step forward in promoting cooperation and expanding opportunities for industrial partnership. I am confident that we will support efforts towards development.”
His Excellency further added, “By strengthening industrial cooperation and coordination efforts between the two countries, we can support sustainable economic development, create more investment opportunities in the region, increase the contribution of the industrial sector to our GDP, and improve import substitution. “Several goals will be achieved, including supporting the country’s economy and boosting its economy,” he added. Through advanced technology, research and development, we ensure sufficiency and power future industries. ”
He said: “The UAE hosted COP28 in December with unprecedented success, exemplified by the historic UAE Consensus, marking the beginning of a new era of global climate action. By reducing emissions and creating climate change opportunities, we aim to keep 1.5°C within reach.” I hereby pledge my commitment to support this agreement by decarbonizing the industrial sector, adopting renewable energy solutions, accelerating the introduction of clean technology solutions in projects, and leveraging important opportunities in sustainable societies. I would like to emphasize the importance of our collective role. Manufacturing industry. ”
His Excellency Youssef Al Shammari, Jordanian Minister of Industry, Trade and Supply, welcomed the ministers and emphasized the importance of partnership in accelerating sustainable economic development in the region.
His Excellency said: “This partnership is a regional model for promoting sustainable economic growth and development through strategic planning. A key aspect of this partnership is to leverage raw materials from Arab countries, which account for 75% of global exports. , to build an industrial system that will revitalize the economy.”
His Excellency Engineer Ahmed Sameer Saleh, Minister of Industry and Trade of Egypt, welcomed the Moroccan partnership and stressed that Egypt looks forward to cooperation, building on the country’s competitive advantages, vision and investments. did.
He emphasized Egypt’s commitment to projects launched under the partnership, which will benefit from the industrial capabilities of each partner country and contribute to sustainable economic growth in a turbulent global economy. emphasized.
His Excellency Riad Mazour, Minister of Industry and Trade of Morocco, said: “Our participation in the industrial partnership is in line with the vision of King Mohammed VI of Morocco to strengthen cooperation and achieve greater economic development.” It contributes to sustainable economic development. This is also an opportunity for us to further integrate and develop projects that will create growth and employment opportunities for the country’s talent. ”
morocco membership
Morocco is well positioned for this partnership given its strong talent base, advanced infrastructure and advanced industrial capabilities, especially in the automotive, renewable energy, aviation, textile, pharmaceutical, phosphate, mining and food industries. It is expected to bring significant value. and global partnerships.
Morocco’s GDP exceeded $134 billion in 2022. The country’s industrial sector provides over 1 million jobs through approximately 121,000 companies. Furthermore, foreign direct investment (FDI) in the manufacturing industry is increasing.
Morocco has several strategic agreements with other countries, including free trade agreements that provide access to more than 100 countries representing 2.3 billion consumers. Ongoing industrial modernization and development plans have strengthened competitiveness, increased investor confidence and established Morocco as a regional destination for manufacturing and industrial investment.
Industry is an important sector in Morocco and has seen significant development in recent years, particularly in the automotive, renewable energy, aviation, textile, pharmaceutical, phosphate, mining and food industries.
Morocco has implemented a new industrial policy aimed at accelerating the development of this sector and increasing its contribution to GDP to 23% by 2030, creating over 500,000 new job opportunities and Investing billions of dollars in renewable energy projects.
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About the Ministry of Industry and Advanced Technology
The Ministry of Industry and Advanced Technology (MoIAT) was established in July 2020 with the aim of increasing the industrial sector’s contribution to the UAE’s GDP and promoting sustainable industrial development. The Ministry was created by merging the Office of the Minister of State for Advanced Technologies, the Emirates Standardization and Metrology Authority (ESMA), and the industry arm of the Ministry of Energy and Infrastructure.
MoIAT aims to attract foreign direct investment, increase the country’s value added, support entrepreneurship, create jobs, attract talent, upskill national executives, promote exports and improve the competitiveness of UAE-manufactured products. It is responsible for formulating policies, laws, and programs. To achieve these goals, MoIAT has built an advanced national quality infrastructure system.
MoIAT will leverage its expertise, capabilities and resources to facilitate the establishment of industrial zones, accelerate the adoption of advanced technologies and integration of Fourth Industrial Revolution solutions, and enable growth of priority sectors and global industries. strengthen the domestic industrial ecosystem by future. The Department’s work contributes to national efforts to build a diversified knowledge-based economy and achieve industrial self-sufficiency.
For more information, please contact us below.
MoIAT Team: Commsteam@moiat.gov.ae
Tasnim Hijazi
Apco Worldwide
E: thijazi@apcoworldwide.com
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