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Ali & Sons provides solutions in automotive, commercial, oil and gas, retail, construction, property management, hospitality, manufacturing, marine engineering, and information technology industries. It is based in Abu Dhabi, United Arab Emirates.

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Zayed the 2nd Street,

Abu Dhabi,

United Arab Emirates

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The “added value” leads the national economy to promising future prospects

Sep 12, 2021

Syed Al Hajjar (Abu Dhabi) The National Added Value Program, which was recently launched by the UAE government, at the state level, within the “50 projects”, contributes to increasing the demand for products and services of Emirati companies and local suppliers, and attracting more foreign investments to the country. Businessmen and economic officials stressed to the Union the importance of the program in supporting local companies and promoting growth in the national industry, explaining that the success of the local experience of implementing the National Value Added Program in Abu Dhabi enhances the chances of its implementation at the state level. The program was launched locally in the Emirate of Abu Dhabi in 2018, with great success, as the program was able, within 3 years, to redirect about 88 billion dirhams to the local economy, through “ADNOC”, “Aldar” and the Department of Governmental Support in Abu Dhabi, as well as creating more than 2000 job opportunities for citizens in the private sector, for the Ministry of Industry and Advanced Technology to submit a proposal to the Council of Ministers to expand the scope of its application so that after its adoption, it will turn into a national program applied at the state level. The National Added Value Program aims to increase the demand for local content and services by redirecting more than 42% of purchase and contract expenses to the national economy. The Emirates Development Bank will provide capabilities and competitive financing solutions to local suppliers and foreign companies that are members of the program, in a way that will raise the demand for Emirati services and products from 33 billion dirhams currently to 55 billion dirhams by 2025. Shams Al Dhaheri Shams bin Ali Khalfan Al Dhaheri, Board Member of the Abu Dhabi Chamber of Commerce and Industry and Managing Director of the Ali & Sons Group of Companies, said that the National Added Value Program, which was recently launched by the UAE government, at the state level, as part of the “50 projects”, contributes to stimulating the industrial sector. and enhance its competitiveness. He pointed out the importance of the program in supporting the growth of small and medium-sized companies, and enhancing the ability to attract more foreign investments, which contributes to advancing economic growth. Al Dhaheri stated that the success of the local experience of implementing the National Value Added Program in Abu Dhabi, through major companies, led by ADNOC, enhances the chances of its implementation at the state level, pointing to the importance of the program in encouraging companies to increase their investments in the local market, as well as providing more Job opportunities for citizens, by encouraging companies operating in the local market to attract distinguished Emirati cadres. The program, after its application at the federal level, is expected to provide many opportunities for Emirati companies to participate in contracts and purchases of federal government agencies, in a step through which the Ministry of Industry and Advanced Technology aims to enhance the gross domestic product, by directing spending on local materials, products and services, and providing Qualitative job opportunities for citizens in the private sector, in addition to localizing the strategic capabilities of delicate jobs in all stages and aspects of business and promoting national companies, their capabilities and products. Mohammed Al Dhaheri promising prospects In turn, Mohammed bin Shabib Al Dhaheri, CEO of Universal Holding Group, stressed the importance of the UAE’s announcement of 50 national projects in opening broader horizons for the national economy, pointing to the importance of launching the national value-added program, at the state level, within the “50 projects”, in Drive growth and achieve sustainable development. The National Value Added Program is considered one of the main pillars of the National Strategy for Industry and Advanced Technology, which aims to enhance the competitiveness of the industrial sector locally, regionally and globally. The program aims to support the national economy by reducing dependence on imports in priority sectors and products. Al Dhaheri expressed his thanks and appreciation to the wise leadership for their continuous support to the business sector and the launch of giant initiatives and projects that contribute to enhancing the country’s economic position, attracting investments and allowing national companies to benefit from them for expansion and growth. Ahmed Al Masoud attract investment In turn, Ahmed Rahma Al Masoud, Vice President of Al Masaood Oil and Gas Company, pointed out the importance of launching the “national added value” program in stimulating national industries and enhancing the competitiveness of the UAE economy, as well as attracting more foreign investments, which will play a prominent role in accelerating the pace economic recovery. Al-Masoud explained that local companies have directly benefited from the implementation of the program several years ago through ADNOC, and therefore the expansion of the program’s scope at the state level enhances the benefit of national companies, contributes to improving the activity of local companies and provides more business opportunities in the local market. . Ahmed Al-Khalafi foreign companies For his part, Ahmed Al Khilafi, General Manager of Hewlett Packard Enterprise in the UAE, stressed the importance of the National Added Value Program, which was recently launched by the UAE government at the state level, as part of the “50 projects” in enhancing business opportunities in the local market. He explained that the program will contribute to attracting more foreign investments, especially in light of the program’s role in providing benefits and advantages to foreign companies when they go to establish their business in the UAE to take advantage of the opportunity to register in the program and obtain its competitive advantages in contracts, as well as benefit local suppliers from entering into partnerships. With these major companies, which will reflect positively on them in the field of technology and knowledge transfer. Al-Khalifi explained that the UAE had a successful experience in implementing the program several years ago, through the company “ADNOC”, explaining that the expansion of its application to turn into a national program applied at the state level, will have a tangible positive impact on the national economy during the coming period. The Ministry of Industry and Advanced Technology aspires to achieve a number of goals through the program, the benefits of which reach all stakeholders, and the national economy in general, such as increasing the contribution of the industrial sector to the gross domestic product, by raising the percentage of industrial projects benefiting from government procurement tenders and contracts. Stimulating institutions and companies to develop plans, mechanisms and programs to improve their performance, transfer technological knowledge and global expertise to national cadres, enhance levels of foreign direct investment, research and development in the industrial sector, and support partnerships with regional and international manufacturers, which contributes to developing the capabilities of local industrialists and other objectives. 4 criteria The percentage of the national added value of the participants in the program is calculated based on a set of criteria that will ensure the integration of implementation mechanisms, where the first criterion is concerned with the cost of manufacturing or spending on products and services within the country, and the second criterion is concerned with the volume of investment in fixed assets, and the third criterion focuses on Measuring expenditure on recruitment, qualification and development of human capabilities of national and resident cadres working in the country, while the fourth criterion revolves around investment in advanced technology, research and development. The National Value Added Certificate is issued after ensuring compliance with the standards through the certificate awarding companies that provide independent and impartial evaluation services. Companies with higher results in the national value added will be given preference in procurement and service tenders, in addition to providing a large number of certificate awarding companies at the state level. . Aldar Properties: Priority is given to local contractors and suppliers Mohammed Al Junaibi, Chief Procurement Officer at Aldar, stressed the importance of the “Aldar” program to enhance the local added value in consolidating sustainability practices in all of the group’s business, explaining that the company, through the program, gives priority to local contractors, consultants and suppliers in most contracts. He explained that the success of Abu Dhabi’s experience in implementing the In-Country Value Program enhances the chances of success of the program at the state level, stressing the importance of the program in advancing economic growth, achieving sustainable development, and providing more job opportunities for the country’s citizens in the private sector. Al-Junaibi pointed to the importance of the National Added Value Program, which was recently launched by the UAE government at the state level, as part of the “fifty projects” in promoting investment in the local market and supporting the work of national companies, especially small and medium ones. During the month of October 2020, Aldar Properties recently confirmed, after signing a memorandum of understanding with the Abu Dhabi Development Holding Company “Holding” (ADQ), to manage and implement projects worth 30 billion dirhams, that the “Aldar” program to enhance the in-country value will ensure that priority is given to most of the Contracts for local contractors, consultants and suppliers, including small and medium companies, in a way that ensures the maximum possible reinvestment in the local economy. This year, Aldar Properties launched a number of new projects, stressing that, based on Aldar’s commitment to its In-Country Value (ICV) program, great focus will be placed on securing all construction materials for the project from local sources to reduce carbon emissions. These were the details of the news The “added value” leads the national economy to promising future prospects for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new. It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

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