Including 33 opportunities worth AED22.08 bn in chemical industries
Ahmed Jasim Al Zaabi, Chairman, Abu Dhabi Department of Economic Development (ADDED), announced that the department intends to offer 100 investment opportunities worth a combined market size of AED123.3 billion ($33.5 billion) by 2027. Al Zaabi’s statement was made during the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023 held in Abu Dhabi.
During his speech at the event, Al Zaabi said that the upcoming wave of the ‘Abu Dhabi Channel Partners’ program will focus on encouraging investment in the flourishing chemical industries. This new batch of opportunities will consist of 33 investment opportunities. The total market size for these opportunities is projected to be AED22.08 billion ($6 billion) by 2027.
The program has identified a range of investment opportunities within the seven manufacturing subsectors prioritized by the Abu Dhabi Industrial Strategy (ADIS).These subsectors comprise food processing, pharmaceuticals, chemicals, electrical, electronics. They also include machinery and equipment, and transportation.
33 chemical opportunities
The comprehensive guide presents 33 investment opportunities within the chemical industries. These opportunities highlight Abu Dhabi’s unique value propositions and the sector’s growth potential. This aligns with the increasing emphasis on developing domestic chemical industries. Additionally, the compound annual growth rate of the identified investment opportunities in the chemical industries is projected. It is expected to range between 2 percent and 14 percent. This projection spans from 2022 to 2027.
Significant growth
Furthermore, non-oil exports in Abu Dhabi experienced a significant 26 percent growth last year, with an average annual growth rate of 6 percent across all sectors from 2016 to 2022, according to Al Zaabi. “With the support of ADIS initiatives, our goal is to elevate non-oil exports to AED178.8 billion by 2031.”