MoIAT and Emirates Growth Fund sign strategic MoU to accelerate UAE's industrial growth
The agreement aims to align growth capital with national industrial priorities by supporting promising growth-stage SMEs in UAE priority economic development sectors, including manufacturing, food security, healthcare, and advanced technology. The partnership aligns the objectives of Operation 300bn, MoIAT's national strategy to raise the industrial sector's contribution to AED 300 billion by 2031, with the potential impact for UAE-based SME represented byEGF, the nation's flagship AED 1 billion growth equity platform backed by Emirates Development Bank (EDB).
The MoU establishes a framework for strategic collaboration across key areas, including joint development of a pipeline of SMEs seeking growth equity, coordinating on marketing and public communication initiatives to identify opportunities to build national champions, as well as aligning on key policy initiatives that can enable SMEs to have better access to private capital markets.
The MoU was signed at Make it in the Emirates 2025 by H.E. Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, and H.E. Najla Al Midfa, Vice Chair & Managing Director of the Emirates Growth Fund, and was witnessed by H.E. Dr. Ahmad Belhoul Al Falasi, Minister of Sports and Chairman of the Emirates Growth Fund .
H.E. Omar Al Suwaidi said:
'This MoU lays the foundation for deeper collaboration to unlock value across priority sectors and support the UAE's economic transformation. EGF is a key partner in realizing our national industrialization vision.'
H.E. Najla Al Midfa said:
'This partnership reflects a national ambition to build a stronger industrial future led by homegrown champions. EGF exists to back these businesses with more than capital: we offer partnership, guidance, and long-term belief in their potential.'
EGF was launched at Make it in the Emirates 2025 where fund leaders will also announce its first investment in the healthcare sector. EGF aims to help bridge a AED7 billion funding gap for UAE-based SMEs that have moved beyond early-stage funding but require long-term, flexible capital to scale. EGF supports national champions in priority sectors and works in line with the objectives of Operation 300bn.
-Ends-
About the Ministry of Industry and Advanced Technology (MoIAT)
About the Ministry of Industry and Advanced Technology (MoIAT):
The UAE Ministry of Industry and Advanced Technology (MoIAT) was established in July 2020 to drive the country's industrial development and promote the adoption of advanced technologies across priority sectors. MoIAT leads the implementation of Operation 300bn, the UAE's national industrial strategy, which aims to increase the industrial sector's contribution to GDP to AED 300 billion by 2031. Through enabling policies, strategic partnerships, and innovation-led programs, the Ministry plays a central role in supporting economic diversification, enhancing national resilience, and fostering sustainable industrial growth.
About Emirates Growth Fund
Emirates Growth Fund (EGF) is a dedicated AED 1 billion growth equity fund established to accelerate the scale and impact of UAE-based small and medium enterprises (SMEs) operating in critical sectors. Backed by Emirates Development Bank (EDB), EGF provides flexible, patient capital and active strategic support to help high-potential businesses grow sustainably, innovate with purpose, and contribute to the UAE's long-term economic resilience and diversification. EGF focuses exclusively on UAE-headquartered SMEs in priority sectors, including manufacturing, food security, healthcare, and advanced technology.
For more details, visit [www.egf.gov.ae]
For more information, please contact:
Hind Ahli / Meera Alrahma
Emirates Development Bank
hind.ahli@edb.gov.ae / meera.alrahma@edb.gov.ae
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