Strategic Partnership to Accelerate UAE Export Growth and Advanced Technology Development

Strategic Insights -

Abu Dhabi Exports Office (ADEX), part of Abu Dhabi Fund for Development (ADFD), and Emirates Development Bank (EDB) have announced a strategic partnership to deploy AED 1 billion over the coming years to UAE-based exporters and manufacturers. The agreement aims to accelerate export-led growth, contribute to the UAE's economic diversification efforts, and align with the National Strategy for Industry and Advanced Technology.

Key Takeaways:

  • The partnership will enable UAE companies, particularly private-sector manufacturers, to expand into global markets by supporting capital expenditure and accelerating export-led growth.
  • The agreement is directly aligned with the UAE's National Strategy for Industry and Advanced Technology, which aims to increase the industrial sector's contribution to GDP, accelerate the adoption of advanced technologies, and transform the UAE into a regional and global hub for future industries.
  • Emirates Development Bank has already committed over AED 18.7 billion in financing since 2021, supporting AED 64 billion in capital expenditure and over 32,000 industrial jobs.
  • The initiative will be available exclusively to UAE-based private-sector corporates, with funding eligibility contingent on a core set of strategic criteria designed to maximise national impact.
  • Companies must operate within the manufacturing sector and either generate or demonstrate a clear pathway toward export-based income to qualify.
  • The partnership reflects the UAE's growing maturity as an exporting nation where government entities work hand-in-hand to build the foundations of a diversified and resilient economy.

Statistics:

  • AED 1 billion: The amount of funding to be deployed over the coming years to UAE-based exporters and manufacturers.
  • AED 18.7 billion: The amount of financing committed by Emirates Development Bank since 2021.
  • AED 64 billion: The amount of capital expenditure supported by Emirates Development Bank since 2021.
  • 32,000: The number of industrial jobs supported by Emirates Development Bank since 2021.

Sources:

  • "Abu Dhabi Exports Office and Emirates Development Bank sign strategic partnership to boost exports" (mid-east.info, Copyright 2023 SyndiGate Media Inc.)