Friday , February 3 2023

By the end of 2018, ADNOC charges up to 18 billion local content



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Abu Dhabi: The bay

The national oil company of Abu Dhabi (ADNOC) announced yesterday that its local content will make up 18 billion dirhams for domestic products by the end of 2018. ADNOC and its contractors will spend more on local content with recent contracts.
Adnok thanked the private sector for its support for the implementation of its new local implementation program, as its integrated Smart Growth Strategy 2030.
Local Value Added Enhancement is an important part of the ADNOC 2019-2023 business plan and will soon increase the volume of capital investments to the $ 486 billion AED approved by the High Oil Council. The program will create additional jobs for highly qualified and local content products and tools , installation, maintenance and infrastructure, as well as contribute to the economic development and prosperity of the UAE.
"According to ADNOC's leadership's vision and leadership, it always strives to strengthen the driving role of the UAE and the role of economic development and quality in the UAE," said State Secretary and Chief Executive Officer of ADNOC, Sultan Ahmed Al Jaber.
"The Abu Dhabi Accelerated Development Program (ADDP) (2021), adopted by his son Sheikh Mohammed bin Zayed Al Nahyan, has identified four main axes aimed at increasing the competitiveness and leadership of Abu Dhabi in the future. The ADNOC program promotes the economic goals of this large-scale program by expanding commercial and investment opportunities for the private sector through expansion of products, goods, services and local content, job creation for individuals in the private sector, and the development of education.
By assessing the ADNOC seller and adding local value to competitive criteria, this value will grow over the years to come. I am convinced that ABNOC and its suppliers will provide economic growth and prosperity to improve UAE's welfare. And in the future Abu Dhabi. "

Minister of Energy and Industry

In the course of the meeting, Minister of Energy and Industry Suhayl Mohammed Farahi Faris al-Mazoui had an additional value-added program of ADNOS, stating the importance of such programs in the UAE.
He expressed confidence that ADNOC's local value-added techniques can be used in other sectors and sectors of the UAE and will be discussed in the coming months.

Central Bank governor

The Governor of Central Bank Mubarak Al Mansouri said: "ADNOC has been supporting ADNOC's local value added program with ADNOC, which aims to increase the use of local products and services, create new jobs for people, and boost exports. Last year ADNOC worked hard. .
He said that these activities are intended to support the economic growth wheel in the UAE. "The Central Bank worked closely with ADNOC last year to support this important program aimed at increasing the use of local products and services, opening new jobs for citizens, and encouraging export growth. All these events are in the interest of supporting the UAE's economic growth. "

Department of Economic Development

Saif Mohammed Al Hajri, Chairman of the Department of Economic Development of Abu Dhabi, said: "The Local Content Program is aimed at developing the domestic GDP of Abu Dhabi Emirate for the development of domestic production of the Emirate of Emirate and strengthening local value among economically-registered enterprises in the country. Local assets. ADNOC Strategy and Local Content Support program work together with local and foreign private sector companies to enhance their value and strengthen collaboration to increase the use of content and local products. "

Abu Dhabi Chamber

ADCCOC Chairman Mohammad Thani Al-Rumai said: "We will strive to encourage and encourage ADNOC suppliers to work closely with local SMEs because these companies are the engine for economic development and prosperity of any country. .

1500 suppliers

During the meeting, about 1,500 local suppliers were awarded with certificates of local significance (CBE) accreditation. The local value methodology takes into account the size of the third-party costs in the UAE, local investment and the United Nations report, as well as the contribution of local staff to the local economy, including local production goods. The assessment also takes into account suppliers' plans to increase local value in the future, as well as operating costs and any export performance.

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