ABU DHABI: The Abu Dhabi Department of Economic Development (Added) and China’s Shandong province signed an initial pact to boost co-operation and exchange expertise and data in the industrial sector, in a move to further increase bilateral investment opportunities.
The National UAE reported that the agreement aims to establish ways for exchanging information to improve industrial co-operation and facilitate delegation visits and investor meetings, Added said in a statement on Friday. In addition, the pact seeks to organise training programmes on entrepreneurship and management consultancy between companies on both sides.
The agreement “is part of our efforts to strengthen relations with Abu Dhabi’s major trade partners; China is one of our largest partners in non-oil trade, particularly in industrial materials,” Rashed Abdulkarim Al Blooshi, undersecretary of Added, said.
“It also reflects our plans to enhance the development of the manufacturing sector and to keep pace with Industry 4.0, which is one of the strategic objectives of Abu Dhabi economy.”
During 2021, Abu Dhabi’s industrial sector recorded growth, thanks to the government policies and incentives aimed at attracting more investments. The number of new industrial sector licenses issued increased by 17 per cent compared to 2020, while the establishment of new factories rose 15 per cent, according to Added data.
Abu Dhabi has built solid infrastructure to support sustained and innovative investing, despite the Covid-19 pandemic. Besides reducing business set-up and renewal requirements and fees, it also eased doing business in the emirate, reflecting a strong partnership between the government and global private sectors players.
