Abu Dhabi-based industrial facilities grow 57% YoY to 66 in 2019
A total of 1,552 industrial licenses were released by end-2019, with more than 139 newly issued licenses in 2019
Abu Dhabi-based industrial facilities increased by more than 57% year-on-year to 66 in 2019, compared to 42 facilities in 2018, hitting a combined investment value of $1.72bn (AED6.29bn), according to the annual Industrial Activity Report issued by the Industrial Development Bureau (IDB) of the Abu Dhabi Department of Economic Development (ADDED).
The undersecretary of the ADDED, Rashed Abdul Karim Al Balooshi, said that the industrial sector has benefitted from the positive impact of the Electricity Tariff Incentive Programme (ETIP), which was launched as part of the Abu Dhabi government’s accelerator programme, Ghadan 21.
A total of 1,552 industrial licenses were released by end-2019. Al Balooshi attributed the growth in Abu Dhabi’s issued industrial licenses to the IDB’s ongoing efforts, noting a 531% growth to reach 139 newly issued licenses in 2019, compared to 22 licenses in 2016.
ADDED now aims to double the number of issued licenses in Abu Dhabi, Al Ain City, and Al Dhafra, according to the state-run news agency, Wam.
Al Balooshi said: “Under the ‘Industrial Pioneers’ category, the 2019 Industrial Activity report recorded an 11.2% growth compared to 2018, which reflects the industrial investors’ interest to seek investment opportunities in Abu Dhabi. The number of industrial facilities with ‘Production’ status also increased in 2019 by 57.14% compared to the figures issued in 2018.”
He added: “These figures give credence to ADDED’s endeavours geared towards boosting Abu Dhabi’s sustainable development and economic diversification efforts, with a special emphasis on the non-oil sectors. ADDED will remain a key contributor to the sustainable development of various non-oil sectors.”