The 3rd "Make It in the Emirates Forum" in Abu Dhabi, the UAE. /CMG
The third "Make It in the Emirates Forum" concluded on Tuesday in Abu Dhabi, the United Arab Emirates (UAE), aiming at providing a valuable cooperation network and knowledge exchange platform for both local and global industrial sectors in the Middle East country.
Themed "Invest. Innovate. Grow," the two-day forum was organized by the Ministry of Industry and Advanced Technology (MoIAT) in collaboration with the Abu Dhabi Department of Economic Development (ADDED) and ADNOC Group.
Inside the venue of "Make It in the Emirates Forum" in Abu Dhabi, the UAE. /CMG
Visions for industrial sector
Dr. Sultan bin Ahmed Al Jaber, minister of MoIAT and managing director and group CEO of the Abu Dhabi National Oil Company (ADNOC), highlighted that the UAE has become one of the preferred destinations for industrial investment, featuring competitive advantages internationally in diversification, credibility, security and strategic geographical location.
UAE's goal is to develop an industrial ecosystem, promote industrial development, enhance economic resilience by creating more investment opportunities, he added.
Dr. Sultan bin Ahmed Al Jaber delivered a keynote speech at the opening ceremony, Abu Dhabi, the UAE, May 27, 2024. /CMG
Non-oil development
To gradually reduce its reliance on oil, industrial development and the adoption of advanced technology are among the core components of the UAE's economic diversification strategy.
Noting the forum as a crucial platform for growth of the industrial sector, Fadhel Khalil Al Mansoori, director general of the Abu Dhabi Exports Office, told CGTN that the office has closed trade worth of 3.5 billion dirhams ($950 million) since 2019 to support exports from the UAE to the global market.
During the two-day forum, the exhibition area was set up to display resources from different regions throughout the UAE, aiding participants in identifying investment opportunities, with a particular focus on sustainable development.
Fadhel Khalil Al Mansoori in an interview with CMG. /CMG
Cooperation with China
Broaden Energy Hydrogen, a hydrogen energy equipment manufacturer in the UAE, on Tuesday signed a memorandum of cooperation with the Abu Dhabi Department of Economic Development, planning to establish the first hydrogen energy equipment factory in Abu Dhabi.
As one of the exhibitors of the forum, China's Guofu Hydrogen Energy Company has invested in Broaden Energy Hydrogen and conducted joint projects to promote the development of the local hydrogen energy industry.
"Hydrogen energy is the ultimate energy source and has been formulated as a strategy around the world, especially in the Middle East," Wu Pinfang, Chairman of Guofu Hydrogen Energy Company, told CGTN.
Broaden Energy Hydrogen participated in the forum in Abu Dhabi, the UAE. /CMG
Having been attracted by the favorable policy in the UAE, Wu said his company decided to establish a joint venture, with the first phase in hydrogen production equipment and the second phase to commence in 2025.
"By 2027, we will be ready to build this subsidiary into the largest hydrogen energy manufacturing company in the Middle East," Wu said.
The "Make it in the Emirates Forum" launched in 2022 and has quickly become one of the region's most prominent industrial platforms. The inaugural event resulted in procurement opportunities worth 110 billion UAE dirham (around $29.95 billion), comprising 300 products across 11 sectors.