On February 22, 2023, The Ministry of Industry and Advanced Technology (MoIAT) and the Emirates Defence Companies Council (EDCC) signed a memorandum of understanding (MoU) on the sidelines of the International Defence Exhibition (IDEX 2023) to bolster local defence industries and promote exports.
The signing ceremony took place and was attended by Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Sarah Al Amiri, Minister of State for Public Education and Advanced Technology, Major General Dr Mubarak Saeed Ghafan Al Jabri, Assistant Undersecretary for Support and Defence Industries at the Ministry of Defence and Deputy Chairman of the Committee for IDEX and NAVDEX, and Tareq Abdulraheem Al Hosani, Secretary General of Tawazun Council.
The MoU aims to empower small and medium enterprises (SMEs) in the defence sector and enhance their performance through a package of incentives and enablers that support and facilitate growth.
It will also help SMEs secure procurement contracts from major national defence companies. In addition, it will provide flexible financing solutions through Emirates Development Bank and encourage companies to engage with the Industrial Technological Transformation Index (ITTI).
Omar Al Suwaidi, Undersecretary of MoIAT, signed the MoU with Mona Al Jaber, Chairwoman of EDCC.
Al Suwaidi said: “The MoU aligns with the objectives of the National Strategy for Industry and Advanced Technology (Operation 300bn), to enhance partnerships and cooperation with public and private sector entities and SMEs by providing incentives and enablers to attract industrial investments under the Make it in the Emirates initiative”.
For her part, Mona Al Jaber said, “The collaboration with MOIAT provides a significant boost to EDCC’s efforts to assist UAE defence companies to build their businesses and capabilities in accordance with worldwide best practices and to promote UAE industries in global forums”.