Latest news with #ADDED
Zawya
4 days ago
- Business
- Zawya
ADGM Board appoints Rashed Al Balooshi as CEO of the Registration Authority
Abu Dhabi, UAE: ADGM, the international financial centre of the UAE capital, today announced the appointment of Rashed Abdulkarim Al Balooshi as Chief Executive Officer of ADGM's Registration Authority (RA), effective immediately. The appointment reflects ADGM's ongoing commitment to bolstering its leadership team and accelerating the execution of its strategic mandate, in alignment with Abu Dhabi's long-term economic vision. Rashed Al Balooshi will take over the role from Hamad Al Mazrouei, who started a new endeavour within Abu Dhabi. In his new capacity, Al Balooshi will lead the Registration Authority at ADGM, which is responsible for the registration, licensing, and supervision of non-financial businesses within ADGM. His mandate includes enhancing operational efficiency, promoting the ease of doing business, and ensuring a progressive, transparent, and business-friendly regulatory framework in line with international best practices. Al Balooshi brings with him a wealth of experience, with an impressive career spanning over 24 years in the financial and regulatory sectors, including a distinguished tenure as CEO of the Abu Dhabi Securities Exchange (ADX) and Under Secretary of the Abu Dhabi Department of Economic Development (ADDED). Additionally, Al Balooshi serves on several boards and committees at the local and federal levels. His expertise across multiple sectors will play a pivotal role in driving the Registration Authority to new heights and reinforcing ADGM's position as a leading international financial hub. Commenting on this appointment, His Excellency Ahmed Jasim Al Zaabi, Chairman of ADGM, said: 'We are pleased to welcome Rashed Al Balooshi to ADGM's leadership team. His track record and deep understanding of the business and regulatory landscape will be instrumental in driving the next phase of ADGM's growth. H.E Al Zaabi added: 'We extend our sincere gratitude to Hamad Al Mazrouei for his valuable contributions and leadership during his tenure and wish him continued success in his new endeavour.' This appointment marks another significant step forward in ADGM's journey and continuity to becoming one of the world's most dynamic and business friendly international financial centres. About ADGM ADGM is the international financial centre (IFC) of the capital city of the United Arab Emirates, which opened for business on 21 October 2015. ADGM augments Abu Dhabi's position as a leading financial centre and a business hub, serving as a strategic link between the growing economies of the Middle East, Africa, South Asia, and the rest of the world. Operating within an international regulatory framework based on the direct application of English Common Law, ADGM governs the entirety of Al Maryah Island and Al Reem Island, collectively designated as the financial free zone of Abu Dhabi. ADGM is ranked as one of the most preferred and top-ranking IFCs in the Middle East and Africa region. Its progressive and inclusive business ecosystem fosters growth, resilience, and optimism for global financial and non-financial institutions. Growing synergies between ADGM and multiple jurisdictions have positioned the centre as one of the world's most advanced, diverse, and progressively governed financial hubs. For more details on ADGM, please visit or follow us on LinkedIn and Instagram: @ADGM X: @adglobalmarket For media queries, please contact: E: media@
Khaleej Times
04-06-2025
- Business
- Khaleej Times
Make it in the Emirates: The UAE's bold blueprint for industrial reinvention
As the UAE accelerates its transition toward a knowledge- and innovation-driven economy, a defining initiative is reshaping its industrial landscape — Make it in the Emirates. Launched in 2021 under the umbrella of the Ministry of Industry and Advanced Technology's (MoIAT) Operation 300bn strategy, this initiative aims to amplify the manufacturing sector's contribution to the national GDP from Dh133 billion to Dh300 billion by 2031. Through innovation, foreign investment, and local production, the UAE is charting a bold course toward becoming a global hub for advanced industries. Held under the patronage of MoIAT in collaboration with the Abu Dhabi Department of Economic Development (ADDED) and Adnoc, the Make it in the Emirates Forum has become a key platform aligning national ambition with international opportunity. The 2025 edition — hosted at the Abu Dhabi National Exhibition Centre (Adnec) from May 19 to 22 — marked a significant evolution. What began at the Abu Dhabi Energy Centre has now expanded across 50,000 sqm, drawing over 20,000 visitors — up from 13,000 across its first three editions — alongside 1,300 delegates, 150 local artisans, and 20 high-profile speakers from sectors including energy, telecom, healthcare, defense, and AI. Scaling with the Nation's Ambitions The UAE presents a compelling case for industrial investment: a stable regulatory framework, 100% foreign ownership across most sectors, long-term residency for investors, and globally ranked infrastructure — including top-tier logistics and ICT systems. Coupled with its geographic advantage connecting East and West, the country offers an unmatched value proposition. Acknowledging global shifts in trade, energy, and supply chains, the UAE is strategically repositioning itself to attract industrial capital aligned with national priorities. According to Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, the initiative is 'more than a forum — it's a comprehensive economic programme to build a resilient, inclusive, and innovative industrial base.' 'This is not just a platform,' Al Jaber stated. 'It is a catalyst for sustainable economic development. It allows us to spotlight local manufacturers, promote national products, and cultivate an ecosystem of innovation and investment.' The 2025 forum saw record-breaking momentum: Dh20 billion in procurement announcements were made during the event, bringing the cumulative value to Dh165 billion, a notable increase from Dh120 billion in 2024. Over 2,000 industrial products were earmarked for local manufacturing — from advanced pharmaceuticals to precision aerospace components — reflecting the UAE's pivot from consumer economy to industrial powerhouse. A Strategic Framework for Diversified Growth At the heart of Make it in the Emirates lies a transformative blueprint: Economic Diversification: Reducing reliance on oil by channeling investment into non-oil sectors such as advanced manufacturing, renewable energy, agri-tech, and healthcare. Technology and Innovation: Embracing Fourth Industrial Revolution (4IR) technologies — including AI, robotics, and additive manufacturing — to enhance competitiveness. SME Empowerment: With SMEs forming 95% of the UAE's industrial base, the initiative integrates them into global value chains while providing access to training, finance, and incentives. In-Country Value (ICV): The National ICV Programme has redirected more than Dh73 billion into the local economy and created over 19,000 jobs as of Q3 2024. Sustainability and Self-Sufficiency: Emphasising green manufacturing and local production of critical goods to support climate goals and boost resilience. The strategy is delivering tangible results. In 2024, the industrial sector contributed Dh210 billion to GDP and recorded Dh197 billion in exports —progress that underscores momentum toward the 2031 goal. Forging a Future-Ready Industrial Ecosystem The forum's 2025 edition reaffirmed the UAE's aspiration to become a global leader in smart and sustainable manufacturing. Plans were unveiled to localize the production of 2,000 in-demand products across sectors like pharmaceuticals, aerospace, electronics, agri-tech, and food and beverage —efforts designed to reinforce supply chain security and enhance self-sufficiency. Moreover, the forum has attracted over Dh143 billion in off-take agreements since its launch — offering manufacturers guaranteed demand and long-term revenue pipelines. Key participants this year included Adnoc, EGA, Edge, etisalat, PureHealth, Strata, and Mubadala, with strategic guidance from ADDED and Adnoc ensuring alignment with economic and energy objectives. Foreign investor interest continues to rise, supported by the UAE's investor-friendly policies, advanced infrastructure, and regulatory efficiency. Empowering Emiratis and Elevating Women in Industry Over 22,000 jobs for Emiratis have been created through the initiative, including 2,500 under the Industrialists Programme, which links academia with industry and equips young nationals with future-focused skills in manufacturing. Women, too, are reshaping industrial leadership. From Dr Alyazia Al Kuwaiti at Mubadala championing gender inclusion in heavy industry to Mariam Al Jaberi at Strata Manufacturing producing aircraft components for Boeing and Airbus, Emirati women are breaking barriers and building legacies. Aligned with Global Trends and Climate Goals The UAE's strategy mirrors global imperatives: digital transformation, sustainable growth, and economic resilience. The focus on green manufacturing and renewable-powered industrial zones contributes to both national and global climate objectives, including the UAE Net Zero 2050 Strategy. Initiatives like the Emirates Development Bank's Dh30 billion financing package — supporting 13,500 companies across key sectors like renewables, advanced tech, and healthcare — highlight the nation's long-term commitment to industrial growth. AI, Automation, and the Rise of Future Industries This year's forum spotlighted transformative technologies. UAE-based AM Industries introduced AI-powered defense and civil solutions, while Maxbyte Technologies launched its 3D AI Project — blending robotics with machine learning. Digital transformation is further accelerated by the Technology Transformation Programme (TTP), which helps businesses implement AI, IoT, and cloud computing for enhanced productivity and reduced operational costs — key to achieving global competitiveness. SMEs, Startups, and Real-World Impact Nearly 68% of forum funding has gone to startups and SMEs, nurturing local innovation. Trux, a logistics and recovery app that featured at the 2025 edition, has served over 1,200 clients, recorded 8,000 downloads, and onboarded 1,000 drivers — expecting a 200% revenue increase post-forum. Even fashion is embracing industrial reinvention. The UAE-based Carter & White reports that 60% of its Italian customers now request apparel labeled Made in the UAE—a testament to the growing global prestige of Emirati products. Sustainability as a Growth Engine Sustainability isn't just a principle — it's a performance metric. The UAE is investing significantly in green manufacturing, electrification, and clean energy-driven industrial zones. As MoIAT Undersecretary Omar Al Suwaidi noted: 'With over 2,000 identified products and a procurement value of Dh143 billion, we're building a competitive, diversified industrial base that empowers citizens and secures our future.' Make it in the Emirates has evolved into a beacon of cultural and economic diplomacy. More than 5,000 UAE-made products, from advanced tech to traditional crafts, were showcased in 2025. Policies supporting full foreign ownership further reflect the country's commitment to international partnerships. As Omar Al Suwaidi emphasised: 'The forum has proven its industrial influence, generating billions in procurement opportunities. We are constantly on the rise.' That rise is now evident on the global stage. Ahmed Al Serkal of Carter & White shared that a growing number of European customers are actively seeking UAE-made products — marking a milestone in industrial brand building. The Road to 2031 Despite remarkable progress, challenges remain — chief among them is cultivating a workforce ready for rapid technological change, sustaining innovation, and balancing growth with environmental stewardship. However, with its strategic clarity, robust investment plans, and future-focused policies, the UAE is well-equipped to turn these challenges into opportunities. As global manufacturing paradigms shift toward regionalised production and supply chain resilience, the Emirates stands poised to become a preferred industrial hub. Make it in the Emirates is no longer just a slogan — it's a national movement redefining economic identity. With Dh165 billion in procurement, 22,000+ jobs created, and surging international interest, the future of global manufacturing may very well be spelled in bold letters: Made in the Emirates. Strategic Outcomes of the Initiative > Major shift towards AI, robotics, and smart industry > 68% of funding directed to SMEs and startups > Empowering women: From factory floors to boardrooms > University partnerships fuelling a high-skill talent pipeline > Success stories like Trux growing 200% post-forum The UAE is transforming from consumer to global producer — with a tech-driven, sustainable industrial future.
Zawya
23-05-2025
- Business
- Zawya
Broaden Energy to establish $124mln facility in Kezad
UAE - Khalifa Economic Zones Abu Dhabi (Kezad Group) and Broaden Energy have announced the signing of a 50-year land lease agreement to establish a key manufacturing facility in Kezad Area A (KEZAD Al Ma'mourah). The agreement was signed at the fourth edition of Make it in the Emirates (MIITE) in Abu Dhabi. This marks the first phase of Broaden Energy's new manufacturing complex, publicly announced in partnership with Abu Dhabi Department of Economic Development (ADDED) last year. It represents a major expansion of the company's capabilities in local hydrogen generation, refueling, and storage systems in the UAE, and will be the first facility of its type in the region. UAE-based Broaden Energy has invested AED455 million to set up its 80,000 square metre facility that will deliver sustainable solutions utilising renewable sources of energy such as hydrogen, solar and wind power. Operations at the company's new facility in KEZAD are set to create around 1,000 direct permanent new jobs. Abdullah Al Hameli, CEO, Economic Cities and Free Zones, said: "Renewable energy is crucial to Abu Dhabi's mission to diversify the energy solution mix for economic development. In alignment with the UAE Energy Strategy 2050 for net zero emissions, we are highly focused on expanding the scope for renewable energy sector growth in KEZAD." "The partnership with Broaden Energy reinforces our commitment to facilitate manufacturing innovation for the sector," he stated. Adnan Sokolija, CEO, Broaden Energy, said: "The agreement with KEZAD marks a critical step in Broaden Energy's expansion plans. We are committed to developing advanced solutions that not only align with the nation's local manufacturing initiatives for long-term industrial growth but also contribute to Abu Dhabi's clean energy development." Investing in renewable energy sector is pivotal to achieving Abu Dhabi's economic diversification goals. By continuing to encourage expertise and innovation in renewable energy with the right partnerships, KEZAD is playing a key role in its development, he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
22-05-2025
- Business
- Trade Arabia
Broaden Energy to establish $124m facility in Kezad
Khalifa Economic Zones Abu Dhabi (Kezad Group) and Broaden Energy have announced the signing of a 50-year land lease agreement to establish a key manufacturing facility in Kezad Area A (KEZAD Al Ma'mourah). The agreement was signed at the fourth edition of Make it in the Emirates (MIITE) in Abu Dhabi. This marks the first phase of Broaden Energy's new manufacturing complex, publicly announced in partnership with Abu Dhabi Department of Economic Development (ADDED) last year. It represents a major expansion of the company's capabilities in local hydrogen generation, refueling, and storage systems in the UAE, and will be the first facility of its type in the region. UAE-based Broaden Energy has invested AED455 million to set up its 80,000 square metre facility that will deliver sustainable solutions utilising renewable sources of energy such as hydrogen, solar and wind power. Operations at the company's new facility in KEZAD are set to create around 1,000 direct permanent new jobs. Abdullah Al Hameli, CEO, Economic Cities and Free Zones, said: "Renewable energy is crucial to Abu Dhabi's mission to diversify the energy solution mix for economic development. In alignment with the UAE Energy Strategy 2050 for net zero emissions, we are highly focused on expanding the scope for renewable energy sector growth in KEZAD." "The partnership with Broaden Energy reinforces our commitment to facilitate manufacturing innovation for the sector," he stated. Adnan Sokolija, CEO, Broaden Energy, said: "The agreement with KEZAD marks a critical step in Broaden Energy's expansion plans. We are committed to developing advanced solutions that not only align with the nation's local manufacturing initiatives for long-term industrial growth but also contribute to Abu Dhabi's clean energy development."
Gulf Today
19-05-2025
- Business
- Gulf Today
Abu Dhabi's industrial GDP up 23% to Dhs111.6 billion in 2024
The Abu Dhabi Industrial Strategy (ADIS) is supercharging the manufacturing sector and accelerating the economic diversification in the emirate. Since ADIS's launch in June 2022, the industrial GDP in Abu Dhabi grew 23 per cent from Dhs90.8 billion in 2022 to Dhs111.6 billion in 2024, and number of industrial enterprises rise 19.4 per cent from 925 to 1,104, said Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED). Participating in a panel discussion on the opening day of the 4th session of 'Make it in the Emirates', Al Zaabi highlighted the initiatives and programmes of the UAE and Abu Dhabi aimed at fostering an investment climate that accelerates industrial growth and unlocks long-term economic resilience. Al Zaabi added, 'The UAE has developed a robust ecosystem that attracts and empowers global talents and high-quality investments as reflected in the significant growth of FDIs in various sectors, including the industrial sector. He added that the UAE's industrial strategy has established the right frameworks to stimulate the industrial sector with a strong focus on enhancing resilience to address emerging trends, challenges, and rapid changes through various programmes including talent development, financing, ease of doing business, supply chains, ICV, sustainability, Industry 4.0, and attraction of foreign direct investments. 'We work closely with the Ministry of Industry and Advanced Technology (MoIAT) to contribute to 'Operation 300bn' aiming to raise the industrial sector GDP to AED300 billion by 2031 and align with the UAE's Net Zero 2050 Strategy,' he said. Al Zaabi explained that Abu Dhabi's manufacturing sector increased its contribution to 53 per cent of UAE's industrial GDP, which rose 6.6 per cent to AED210 billion in 2024. This is compared to a contribution of 51.3 per cent to the country's industrial sector in 2023 and 46 per cent in 2022. 'A key component of our soaring 'Falcon Economy', ADIS is strengthening Abu Dhabi's position as the region's most competitive industrial hub. It is guiding the manufacturing sector's transition to Industry 4.0 and the adoption of smart manufacturing's methods, techniques, and approaches,' he stated. Last year, Abu Dhabi's manufacturing sector remained the largest non-oil contributor to the emirate's GDP, accounting for 9.5 per cent of total GDP and 17.3 per cent of non-oil GDP. In Q1 of 2025, the industrial sector continued its growth with the number of new industrial licences rising 4.7 per cent t to 89 compared to 85 new licences in the corresponding period last year. The number of industrial licences moved from under-construction to production stage surged by 65 per cent to 33 compared to 20 in Q1 of 2024. Abu Dhabi's Falcon Economy is rapidly emerging as a global centre of advanced industries and technologies, building world-class hubs for finance, advanced manufacturing, AI, and New Energy. As part of its initiatives to capitalise on advanced technologies to address pressing needs and future-proof the economy, Abu Dhabi has been launching sector-specific clusters, including the Smart and Autonomous Vehicles Industries (SAVI), AgriFood Growth & Water Abundance (AGWA), and Health, Endurance, Longevity, and Medicine (HELM). Meanwhile the Statistics Centre - Abu Dhabi (SCAD) has released preliminary statistical estimates for Abu Dhabi's Gross Domestic Product (GDP) for 2024 in March, showing significant annual economic growth driven by the thriving non-oil sector. The 2024 GDP data highlights Abu Dhabi's sustained economic momentum, with total GDP and non-oil GDP reaching record values for the third consecutive year. The emirate's real GDP expanded by 3.8 per cent in 2024 compared to 2023, reaching an all-time high value of Dhs1.2 trillion, driven by the non-oil economy which recorded a strong growth rate of 6.2 per cent, marking its highest-ever annual contribution of 54.7 per cent to total GDP. This underscores Abu Dhabi's continued success in implementing economic diversification strategies and fostering sustainable, long-term growth. The non-oil sector remained the primary driver of economic momentum, with total non-oil GDP added value reaching Dhs644.3 billion, setting a record for the third consecutive year. Key sectors including manufacturing, construction, finance and insurance, information and communication, wholesale and retail trade, education, and health, achieved their highest-ever values, reflecting the emirate's commitment to industrial development, infrastructure investment, and human capital enhancement. Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said, 'The consistent, remarkable performance of the Falcon Economy in the past years is a testament to Abu Dhabi's forward-thinking economic strategies, progressive policies, and proactive responses to an evolving global landscape.' Since Abu Dhabi Industrial Strategy's launch in June 2022, number of industrial enterprises rise 19.4 per cent from 925 to 1,104
