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  • 04-06-23

    Abu Dhabi Launches Initiatives to Foster Smart Manufacturing, Support SMEs

    (MENAFN) The Abu Dhabi Department of Economic Development has introduced two initiatives aimed at equipping small and medium enterprises (SMEs) to meet the goals outlined in the emirate's industrial strategy. According to the state-run news agency WAM, these initiatives are expected to drive innovation and sustainability in the industrial sector.

    The first initiative is the Smart Manufacturing Competence Center (SMCC), which will serve as a catalyst for fostering collaboration among local and global industry stakeholders. The center aims to establish an ecosystem that promotes innovation and sustainability in manufacturing processes. By bringing together key players in the industry, the SMCC will facilitate knowledge sharing and the development of innovative manufacturing services.

    The second initiative is the Smart Manufacturing Incentive Program, designed to support SMEs in the industrial sector as they undergo the transformation toward smart manufacturing. This program aligns with the six transformational programs of Abu Dhabi's Industrial Strategy, which include Industry 4.0, Circular Economy, Talent Development, Ecosystem Enablement, Homegrown Supply Chain, and Value Chain Development. By implementing these programs, the aim is to enhance the capabilities of SMEs and enable them to thrive in the evolving manufacturing landscape.

    Abu Dhabi has set ambitious targets for its manufacturing sector, with plans to invest 10 billion dirhams (USD2.7 billion) in these initiatives. The goal is to double the size of the manufacturing sector to 172 billion dirhams, create 13,600 jobs, and increase non-oil exports to 178.8 billion dirhams by 2031. These initiatives and investments demonstrate the emirate's commitment to fostering economic diversification and promoting sustainable growth.

    The Smart Manufacturing Competence Center is expected to commence operations in the first quarter of 2024. Through collaboration, consolidation of services, and knowledge sharing, the center will contribute to the advancement of smart manufacturing practices in Abu Dhabi and position the emirate as a hub for innovative industrial solutions.

    MENAFN04062023000045014228ID1106383072

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