"Abu Dhabi Economy" It reveals investment opportunities in the transportation industries amounting to 11.04 billion dirhams
ABU DHABI, April 26 / WAM / The Department of Economic Development – Abu Dhabi launched a new package within the Abu Dhabi Partners Program aimed at enhancing the attractiveness of the investment environment in industries related to the transportation sector, to provide opportunities for investors in areas with a total market value of 11.04 billion dirhams (3 billion US dollars) by the year 2027.
This was announced by His Excellency Ahmed Jassim Al Zaabi, Chairman of the Department of Economic Development – Abu Dhabi, during his participation in a dialogue session moderated by Becky Anderson, a journalist at CNN International, within the “DriftX” activities in Abu Dhabi, the global platform dedicated to smart and self-driving mobility innovations and solutions and their uses. In the sustainable transportation and mobility sector, air, land and sea.
The event is organized with the support of the Abu Dhabi Investment Office, which launched the Smart and Autonomous Vehicle Industry Park (SAVI) last year (2023) that raises global standards in the transportation sector.
His Excellency Al Zaabi said: “These promising investment opportunities in industries related to the transportation sector play an important role in developing the industrial sector, within the framework of supporting Abu Dhabi’s industrial strategy for its transformation into a diversified, smart and sustainable economy, and enhancing Abu Dhabi’s position as a leading global center for advanced technology and innovation in the industrial sector.” .
He added that last year (2023) witnessed an increase in the GDP of the industrial sector in Abu Dhabi to 101 billion dirhams, contributing 8.8% of the gross domestic product, and 16.5% of the non-oil domestic product, which rose by 9.1% to 610 billion dirhams.. We reiterate Our commitment to enhancing economic diversification by focusing on new and emerging sectors in a number of industrial fields, and employing innovative tools and approaches in various sectors. Our industrial strategy provides broad opportunities for partnerships, financing, and an attractive environment for local and international investors.”
He explained that investment opportunities in transportation industries include commercial drones, electric vehicle chargers, car battery systems, aircraft landing gear, light electric bicycles, and car tires.
The compound annual growth rate for investment opportunities identified in transportation industries ranges between 5.7% for traditional sectors, 9.4% for areas with high growth potential, and 31.5% for emerging and new sectors during the period from 2022 to 2027.
The Abu Dhabi Economy launched the Abu Dhabi Partners Program in 2023 as part of the Abu Dhabi Industrial Strategy initiatives to enhance the comprehensive system of the industrial sector in the emirate by providing comprehensive and detailed guidance on investment opportunities, and incentives specifically designed to meet the requirements of companies and investors.
The Abu Dhabi Partners Program provides 100 investment opportunities with a total market value of 123.3 billion dirhams (33.5 billion US dollars) in the seven industrial sectors that the Abu Dhabi Industrial Strategy focuses on, including the food, pharmaceutical, chemical, machinery and equipment, electrical, electronics, and transportation industries.
Abu Dhabi was able to build an investment system to support companies with broad innovation capabilities, by enhancing partnerships, financing and opportunities in non-oil sectors, which provides attractive options for local and international investors.
The Industrial Development Office, the arm of the Department of Economic Development – Abu Dhabi to develop and regulate the industrial sector, launches initiatives and attracts international companies to Abu Dhabi to achieve the goals of the Abu Dhabi Industrial Strategy.
The Abu Dhabi Partners Programme, one of the main initiatives of the Abu Dhabi Industrial Strategy, works to enhance the global competitiveness of the Emirate of Abu Dhabi and attract foreign and local direct investments and specialized talents to increase the industrial sector’s contribution to the emirate’s non-oil gross domestic product.
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