ADDED reveals AED11 billion investment opportunities in transportation industries
- Investment opportunities include commercial drones, electric vehicle chargers, automotive battery systems, aircraft landing gears, e-scooters, and automotive tyres
- New guide is part of the Abu Dhabi Channel Partners programme, which works to enhance the industrial ecosystem in Abu Dhabi by providing detailed opportunities
Abu Dhabi, 26 April 2024: The Abu Dhabi Department of Economic Development (ADDED) has issued a new guide outlining investment opportunities with high growth potential in Abu Dhabi’s transportation industries. Released as part of the Abu Dhabi Channel Partners programme, the guide allows domestic and international players to invest in a sector projected to reach a combined market size of AED11.04 billion (USD3 billion) by 2027.
His Excellency Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), announced the new guide for investment opportunities in transportation at DRIFTx, the international thought-leadership and exhibition platform in Abu Dhabi that is dedicated to advancing the future of smart and autonomous mobility across air, land, and sea. DRIFTx is supported by the Abu Dhabi Investment Office (ADIO), which launched Smart and Autonomous Vehicle Industry (SAVI) cluster in 2023 to set new standards for global transportation and mobility.
H.E. Al Zaabi said: “These high-growth investment opportunities in the transportation industries will play an important role in strengthening the Emirate’s industrial landscape. ADIS is supporting our transformation into a diversified, smart, and sustainable economy, underscoring our vision of establishing Abu Dhabi as a global technological hub and innovation centre for manufacturing.”
“In 2023, the value of Abu Dhabi’s manufacturing sector rose to AED101 billion, contributing 8.8% to the total GDP and 16.5% to non-oil GDP, which grew by 9.1% to AED610 billion. The transportation sector’s potential for growth will play a crucial role in the realisation of Abu Dhabi’s ambitious targets. We are committed to further diversifying the economy by focusing on new and emerging sectors, with a special emphasis on certain manufacturing sectors, and utilising innovative tools across different sectors. ADIS is providing ample opportunities for partnerships, access to funding, and attractive investment prospects for both local and international investors”.
Industrial Investment opportunities in transportation include the development, manufacturing and commercialisation of commercial drones, electric vehicle chargers, automotive battery systems, aircraft landing gears, e-scooters, and automotive tyres. The compound annual growth rate (CAGR) of these opportunities is projected to range between 5.7% for conventional industries, to 9.4% for high-growth ones, and up to 31.5% for disruptive industries in transportation.
The Abu Dhabi Channel Partners programme was launched in 2023 as an Abu Dhabi Industrial Strategy (ADIS) initiative to enhance the Emirate’s industrial ecosystem by providing detailed guides of investment opportunities that address the needs of key players and investors. The programme presents 100 investment opportunities, with a combined market value of AED123.3 billion (USD33.5 billion) in the 7 manufacturing subsectors targeted by ADIS, namely food processing, pharmaceuticals, chemicals, electrical, electronics, machineries and equipment, and transportation.
Abu Dhabi has built an investment-friendly ecosystem that supports innovation-driven businesses by providing access to partnerships, funding, and opportunities within non-oil sectors, and by presenting attractive investment and partnership prospects for both local and international investors. The Industrial Development Bureau (IDB), ADDED’s arm to develop and regulate the industrial sector, has been active in launching initiatives, and in attracting global players to Abu Dhabi to achieve the objectives of ADIS.
A key initiative of ADIS, the Abu Dhabi Channel Partners programme is enhancing Abu Dhabi’s global competitiveness, attracting foreign and domestic direct investments (DDIs and FDIs) and attracting talent to significantly increase the industrial sector’s contribution to the Emirate’s non-oil GDP.
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-ENDS-
The Abu Dhabi Department of Economic Development (ADDED), the catalyst for economic growth and diversification, regulates the business sector in the Emirate and leads economic initiatives to achieve a knowledge-based, diversified, and sustainable economy. ADDED adopts best policies and practices based on the latest research and statistics, devotes its efforts to elevate the development and renaissance across various sectors, and prepares strategic programs and plans by adopting the best economic and administrative practices, applying the latest technology and drawing on global expertise.
ADDED strives to improve the investment climate in the Emirate by enhancing prospects for cooperation with strategic partners and ensure principles of innovation, transparency, and knowledge-sharing are followed to strengthening the business ecosystem to enhance Abu Dhabi as preferred destination for business and investments.
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