The UAE government has launched a new wave of support for industrial development. On Tuesday, it signed UAE industrial financing deals worth over Dhs40bn with top banks.
To start, these agreements reflect a major step in strengthening the country’s industrial and technological capabilities. The Ministry of Industry and Advanced Technology (MoIAT) led the effort in collaboration with five leading financial institutions.
The participating banks include First Abu Dhabi Bank, Emirates NBD, ADCB, ADIB, and Wio Bank. Each bank committed to offering competitive financing for industrial enterprises.
Notably, the signing took place in the presence of Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology. His ministry continues to guide national efforts toward innovation and advanced manufacturing.
According to MoIAT Under-Secretary Omar Al Suwaidi, the financing will help industrial firms, especially SMEs, scale their operations and adopt new technologies. These tools will enhance competitiveness and drive sustainable growth.
Moreover, Al Suwaidi highlighted that these UAE industrial financing deals align with the country’s long-term vision. That vision includes building a knowledge-based, diversified economy anchored by innovation.
The agreements are part of the broader “Make it in the Emirates” initiative. This program encourages domestic production, expands industrial capacity, and boosts entrepreneurship.
Additionally, the initiative targets several key sectors, such as manufacturing, clean energy, and advanced technologies. The new funding ensures that SMEs in these sectors can access resources to grow.
Al Suwaidi also emphasized the importance of public-private partnerships. He said the deals show strong cooperation between the government and financial institutions to support national goals.
“These agreements send a clear message,” he said. “The UAE is serious about empowering industry through financial innovation.”
In conclusion, the UAE industrial financing deals will help modernize the country’s industrial sector. They pave the way for economic sustainability, job creation, and technological leadership.
