Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, visits the headquarters of Al Dahra Group in Khalifa Industrial City (Kizad), Abu Dhabi. Ministry of Industry and Advanced Technology
Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, visits the headquarters of Al Dahra Group in Khalifa Industrial City (Kizad), Abu Dhabi. Ministry of Industry and Advanced Technology
Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, visits the headquarters of Al Dahra Group in Khalifa Industrial City (Kizad), Abu Dhabi. Ministry of Industry and Advanced Technology
Falah Mohammed Al Ahbabi is a member of Abu Dhabi Executive Council
July 01, 2022
As Abu Dhabi pursues enhanced economic development, Industry 4.0 technologies will provide businesses from all verticals newfound efficiency, effectiveness and empowerment. Their adoption will transform the emirate’s industrial sector and re-affirm its sustainability, vibrancy and success through smart manufacturing integration. In doing so, invaluable economic contributions will follow.
A key economic diversification enabler, Abu Dhabi’s industrial sector has long been nurtured as a catalyst for realising the potential of digital transformation. Over a 15-year period, $13.8 billion has been invested towards establishing robust industrial infrastructure and innovative business facilities, whilst the industrial sector alone contributed 10.7 per cent to Abu Dhabi’s non-oil GDP as recently as 2020.
From our perspective, AD Ports Group has been a witness to the transformative power of smart manufacturing. As one of Abu Dhabi’s key industrial facilitators, offering purpose-built economic hubs in the heart of the capital, AD Ports Group’s Economic Cities & Free Zones have welcomed a wave of new investors looking to deploy Industry 4.0 technologies and reap benefits such as maximised plant efficiency, seamless data exchange and on-time delivery.
Abu Dhabi Industrial Strategy (ADIS) has integrated a smart manufacturing vision that aims to double the size of the Emirate’s manufacturing sector to Dh172bn ($45.5bn) by 2031 and establish it as the region’s most competitive industrial hub.
Sheikh Khaled bin Mohamed, member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office, has launched the Abu Dhabi Industrial Strategy to strengthen the emirate’s position as the region’s most competitive industrial centre. All photos: Abu Dhabi Government Media Office
Abu Dhabi government will invest Dh10 billion to more than double the size of the emirate’s manufacturing sector to Dh172bn by 2031.
Non-oil exports will grow by 148 per cent to Dh178.8bn and 13,600 jobs will be created under the strategy.
Sheikh Khaled was joined at the launch by officials and dignitaries such as Dr Sultan Al Jaber, Minister of Industry and Advanced Technology.
The strategy will increase access to financing, improve the ease of doing business and attract foreign direct investment.
Under the initiative, the home-grown supply chain programme will build industrial sector resilience by increasing self-sufficiency and promoting domestic products.
Alongside the launch of the strategy, several new industry partnerships were signed.
Six programmes will drive growth and innovation, boost skills and advance the transition to a circular economy.
Sheikh Khaled at the launch event. The Industry 4.0 programme will accelerate business growth through the widespread adoption of new technology and processes.
Initiatives included in the strategy will continue Abu Dhabi’s transition towards a smart, circular economy.
The plan will include job placement programmes that offer rewarding career pathways in high-demand areas.
Through ADIS, Abu Dhabi’s industrial sector will continue to play a leading role in driving sustainable development across the economy and wider emirate. It’s a role that requires increased production, manufacturing and tech-based advancement. Crucially, this outcome is realistic and achievable with support from smart manufacturing, which is today as much about ensuring sustainable growth for future generations as it is about using new technologies.
From investors to industrial sector incumbents, citizens to government entities, everyone interested and invested in Abu Dhabi’s future has reason to be optimistic when smart manufacturing’s industrial sector presence expands. Smart manufacturing can streamline processes, bolster productivity, raise competitiveness, enable supply chain management, elevate safety and quality control, build future preparedness and improve business output and profits.
For smart manufacturing policies to move forward, leadership and investment is needed, which ADIS will deliver, thereby enabling new partnerships and ensuring continued industrial sector development. Under the strategy, government-backed funding will come through a smart manufacturing funding programme; Industry 4.0 technology regulations will be adopted through a smart manufacturing assessment index; and competency centres will ensure existing and future talent are equipped with essential skillsets.
At AD Ports Group, we continue to invest in the infrastructure and facilities required by next-generation businesses. Existing and planned development at the port-connected industrial zones of KIZAD is enabling the creation of whole ecosystems for specific sectors, from engineered metals to 3D printing, supported by advanced digital services and world-class customer service.
Smart manufacturing will be key to supply chain success. As manufacturers streamline processes by adopting smart manufacturing processes, the incentive to increase self-sufficiency and promote domestic home-grown products will increase.
Moreover, the strategy will provide influential support, introducing a home-grown supply chain programme to enhance industrial sector resilience. The already extensive Abu Dhabi Golden List, which encourages government procurement of high-demand, locally manufactured products, will also expand; while access to foreign markets will be eased through a comprehensive economic partnership agreement (CEPA), as well as a bilateral trade agreement programme.
With smart manufacturing integration comes new possibilities for Abu Dhabi’s industrial sector and the emirate. As the influence and impact of ADIS unfolds, widespread smart manufacturing adoption will follow, presenting a raft of new economic and business benefits. These are exciting times, and we are proud to be playing our part in achieving our national ambitions.
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
Starring: Jamie Bell, Danielle McDonald, Bill Camp, Vera Farmiga
Rating: 3.5/5 stars
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
Funders: Oman Technology Fund, 500 Startups, Vision Ventures, Seedstars, Mindshift Capital, Delta Partners Ventures, with support from the OQAL Angel Investor Network and UAE Business Angels
RESULT
Copa del Rey, semi-final second leg
Real Madrid 0
Barcelona 3 (Suarez (50', 73' pen), Varane (69' OG)
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
'How To Build A Boat'
Jonathan Gornall, Simon & Schuster
