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Abu Dhabi Private Sector Growth

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Abu Dhabi Private Sector Growth

During the year 2021 more than three hundred tenders were given to resident companies by the government due to the Abu Dhabi economic stimulus initiative. These tenders were worth over AED 1 billion.

According to the latest figures, by the third quarter end, three hundred and twenty-two government bids were given to organizations holding ICV certificates of the ADLC program.

Industrial Development Bureau issued a report in which it was reported that a total of 583 government bids were given amounting to AED 2.4b which shows 41.5% of the total were tenders with the local content value, thus AED 415m was used to support the local services and products and to increase SME contribution in the total GDP.

The ADLC program was started in view of the economic stimulus initiatives to help out the private industry. This program was launched through the accelerator program Ghadan 21, which was widely participated by various government entities.

By the end of the third quarter 2021, 26 government entities gave out bids to the companies holding ICV certificates as compared to 17 in the year 2020.

The ICV contract grants were made in consultancy and audit firms (2 %), information and technology (9%), services (21%), construction (19%), supplies (10%), and environment (39%).

The ADLC program plans to promote the adoption and usage of advanced technology and knowledge-based economy. It also aims to spur growth in Emiratization in the private industries and to boost the emirate’s GDP.

It was stated by the undersecretary ADDED, Rashed Abdulkarim Al Bloosi, that the positive indicator of the ADLC program shows the awareness it has created among the government entities about the major role this program can play in the UAE’s economy. Moreover, he said, this program can be very important for the variation, an increase in government spending, and sustainable growth in knowledge-based industries. It can also play a vital role in providing and increasing job opportunities for UAE locals in the private industry and fostering relationships between the UAE’s private-public sectors. This will in turn help the UAE to achieve its development objectives.

He also added that we are determined to increase our efforts and handwork to accomplish ADLC’s objectives by adding more organizations in the agenda, and persuading more entities to become ICV certified.

He also said that we are making essential enhancements to increase participation from SMEs to the GDP and to make the ADLC program a success. He further said that we will work on making ADLC simpler by automating bidding, tools, and other processes. We are trying our best to go ahead with our efforts to create more awareness about this program and to get the best of benefits from this opportunity. 

 

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