Abu Dhabi National Oil Company (ADNOC) has recently announced an increase in its local manufacturing target for critical industrial products, setting a new goal of Dh90 billion by 2030. This surpasses the previous target of Dh70 billion by 2027, which was achieved ahead of schedule. The expanded In-Country Value (ICV) programme aims to inject an additional Dh178 billion into the UAE economy by 2028, with ADNOC already contributing Dh187 billion since 2018 and creating 11,500 job opportunities for Emiratis in the private sector.
Dr. Sultan bin Ahmed Al Jaber, UAE’s Minister of Industry and Advanced Technology and ADNOC’s Managing Director and Group CEO, believes that the increased target will bolster the UAE’s industrial sector, drive economic diversification, attract both local and international investors, and provide highly skilled job opportunities for UAE nationals. This programme includes a dedicated MSME accelerator and incentives to promote sustainability and the adoption of advanced technologies such as Artificial Intelligence (AI) within ADNOC’s supply chain.
Through the ‘Make it in the Emirates’ initiative launched in 2021, ADNOC has significantly increased its direct spend with local manufacturers, awarding contracts worth Dh22.4 billion to Emirati-owned SMEs across 600 companies. ADNOC is now inviting local and international manufacturers to capitalize on its ICV programme and contribute to the UAE’s industrial growth journey. The programme will also introduce incentives focused on sustainability, encouraging investors to implement clean technologies and adhere to best-in-class Environmental, Social, and Governance (ESG) practices.
By actively promoting the adoption of AI in its supply chain, ADNOC is further enhancing the industrial resilience of the UAE. This strategic move aims to stimulate the country’s manufacturing sector, generate more local job opportunities, and attract significant investments. With the ultimate goal of strengthening the UAE’s economic diversification efforts, the ICV programme spearheaded by ADNOC underscores the company’s commitment to sustainability, technological innovation, and supporting local businesses.
The increased focus on local manufacturing by ADNOC highlights the company’s dedication to driving economic growth and job creation within the UAE. By expanding its ICV programme and setting ambitious targets for the future, ADNOC is helping to build a more self-sufficient and robust industrial sector in the country. Through collaborations with local manufacturers and the integration of advanced technologies, ADNOC aims to enhance the competitiveness of the UAE’s industrial landscape and position the country as a hub for innovation and sustainable development in the region.
As ADNOC continues to pave the way for local manufacturing and economic development in the UAE, the company is not only contributing significantly to the country’s GDP but also creating opportunities for Emirati talent to thrive in the private sector. By emphasizing sustainability and technological advancements in its supply chain, ADNOC is setting a strong foundation for the future growth of the UAE’s industrial sector. Through partnerships with local and international stakeholders, ADNOC is driving innovation, job creation, and economic prosperity, positioning the UAE as a global leader in sustainable industrial practices.
