Revealed...how Abu Dhabi is growing its industrial sector
2/18/2020 3:23:28 PM
Arabian Buisness
Abu Dhabi-based industrial facilities grew by more than 57 percent in 2019 to 66 from 42 facilities, according to official figures.

Investment in the emirate's industrial sector hit AED6.29 billion, said the Abu Dhabi Department of Economic Development (ADDED).

The latest edition of its annual Industrial Activity Report released by the Industrial Development Bureau (IDB), said a total of 1,552 industrial licences were issued last year.

Rashed Abdul Karim Al Balooshi, Undersecretary, ADDED, said the IDB continues to design solutions to the challenges facing the industrial sector.

He underlined the positive impact of the Electricity Tariff Incentive Programme which was launched last year as part of the Abu Dhabi Government’s accelerator programme Ghadan 21.

He added that a new initiative to be launched this month is also expected to contribute to the sector’s growth by reinforcing public-private partnerships and increasing the private sector’s contribution to Abu Dhabi’s gross domestic product.

Al Balooshi attributed the growth in the issued industrial licences in Abu Dhabi over the past three years to IDB’s ongoing efforts, noting a 530 percent growth in 2019 to reach 139 newly issued licenses compared to 22 licenses in 2016.

While 2019 witnessed a considerable growth in the number of issued industrial licences in Abu Dhabi, ADDED aims to double the number in Abu Dhabi, Al Ain City, and Al Dhafra, he added.

The IDB report also recorded a 5.7 percent increase in industrial licence renewals applied by facilities with Production status. A total of 732 licences were issued in 2019 compared with 696 licenses in 2018.