UAE - Mubasher: The basic industrial project, implemented by the Abu Dhabi Department of Economic Development (ADDED), has added 22 new industrial licenses, with total investments of AED 286.4 million, during its first year, the Emirates News Agency (WAM) reported.
The Chairman of the Department, Mohamed Ali Al Shorafa, said that the project seeks to enable Abu Dhabi to be self-sufficient in the industrial commodities and strengthen important sectors, including medical, food, and electrical industries, and industries such as steel, aluminum, and cement.
Al Shorafa remarked that the Industrial Development Bureau's (IDB) aims to add 50 new local industrial facilities over the next three years across several industrial fields.
In addition, ADDED has allowed for 100% foreign ownership for 725 industrial activities to attract more foreign direct investments in the industrial fields.
The IDB's report, which evaluated the impact of the basic industries project on achieving self-sufficiency, read that seven licenses in the food industries field were introduced, with a total investment of AED 9.8 million.
Meanwhile, Abu Dhabi recorded six new licenses in medical industries with a total investment of AED 261.8 million and nine industrial licenses in the electrical industries sector with AED 14.8 million investments.
