Latest news with #SultanbinAhmedAlJaber
Al Etihad
21-05-2025
- Business
- Al Etihad
Borouge, Mubadala Bio sign agreement to strengthen UAE's healthcare, life sciences sectors
21 May 2025 19:14 ABU DHABI (WAM)Borouge, a leading petrochemicals company, that provides innovative and differentiated polyolefins solutions, has signed a strategic cooperation agreement with Mubadala Bio, a life sciences company dedicated to pursuing better health outcomes for the UAE and partnership will explore the supply of polyolefin materials to enable local manufacturing of medical products, reinforcing local manufacturing capabilities while contributing to the future of the UAE's healthcare and life sciences signing ceremony was witnessed by Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, Dr. Bakheet Al Katheeri, Chief Executive Officer, UAE Investments Platform, Mubadala, and Ismail Ali Abdulla, Executive Director of UAE Clusters, Sultan Al Suwaidi, CEO of Borouge, and Hamad Husein Almarzooqi, Deputy CEO of Mubadala Bio, signed the agreement during Make it in the Emirates, a flagship UAE event that unites industry leaders to drive innovation and industrial Al Suwaidi said, "We are delighted to partner with Mubadala Bio to explore the development of essential medical solutions made at our Ruwais facility in the UAE. Aligned with the ambitions of Make it in the Emirates, this collaboration goes beyond the supply of materials, it is about combining the UAE's scientific product innovation with regional insight to bring smarter, safer products for patients and clinicians across the Middle East and beyond."Ismail Abdulla added, "This collaboration agreement with Borouge reflects Mubadala Bio's commitment to enabling a world-class, sustainable life sciences sector anchored in advanced local manufacturing. By collaborating with local partners, we aim to grow the manufacturing of UAE-made products. We are strengthening the life sciences sector, supporting the UAE's vision, and enhancing the delivery of essential health products for communities locally and abroad."Powered by Borealis' Borstar technology, Bormed RG868MO, produced by Borouge in the UAE, marks a key milestone as the initial product offering in Borouge's wider healthcare RG868MO provides transparency and mechanical strength, and meets industry sterilisation standards, making it ideal for pharmaceutical packaging and medical devices like three-part syringes, inhalers, pharmaceutical caps and product is already in production at Borouge's manufacturing plant in Al Ruwais Industrial City, Abu Dhabi, representing the first time it has been made for healthcare applications in the UAE. Borouge is set to launch its second healthcare product by the end of the year, building on the momentum of its current Middle East rollout. Aligned with Borouge's commitment to sustainability and innovation, this healthcare solution enables customers to reduce production cycle times through faster processing, and can provide an estimated carbon footprint reduction of 5 - 10%.
Hi Dubai
21-05-2025
- Business
- Hi Dubai
MoIAT Signs AED40 Billion Financing Agreements to Boost Industrial Growth
The UAE has taken a major step in advancing its industrial sector, with the Ministry of Industry and Advanced Technology (MoIAT) signing five Memoranda of Understanding (MoUs) with leading national banks to unlock over AED40 billion in financing solutions. The agreements, witnessed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, aim to fuel industrial expansion, support SMEs, and drive the adoption of advanced technologies in line with the UAE's sustainable development goals. Partner banks include First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank. Each has pledged competitive, tailored financing to help businesses scale, innovate, and contribute to the country's strategic 'Make it in the Emirates' initiative. Omar Al Suwaidi, Under-Secretary of MoIAT, emphasized the importance of these partnerships in building a resilient, innovation-led industrial ecosystem. 'These innovative financing solutions are designed to enable sustainable industrial growth, aligned with the UAE's vision of a diversified, knowledge-based economy,' he said. Executives from all five banks echoed strong support for the initiative. FAB pledged AED5 billion in renewed funding, while WIO Bank committed up to AED1 billion in working capital support. Others highlighted the alignment of the initiative with national priorities, ethical financing, and long-term economic competitiveness. The agreements reflect growing synergy between the public and private sectors, positioning the UAE as a regional leader in advanced manufacturing and industrial innovation. News Source: Emirates News Agency
Dubai Eye
21-05-2025
- Business
- Dubai Eye
MoIAT secures AED 40 billion in bank partnerships to boost UAE industry
The UAE Ministry of Industry and Advanced Technology has secured over AED 40 billion in financing to boost the country's industrial sector, following the signing of five major agreements with leading national banks. Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, witnessed the signing of Memoranda of Understanding with First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank. The agreements aim to provide competitive financing for industrial companies, particularly small and medium-sized enterprises, and to support investment in advanced technologies across the UAE. Omar Al Suwaidi, Under-Secretary at the Ministry, said the initiative reflects the Ministry's commitment to empowering the industrial sector through strategic partnerships with top financial institutions. He added that the MoUs will help SMEs scale, innovate and contribute to the UAE's goal of building a diversified, knowledge-based economy. The partnerships will foster entrepreneurship, enhance access to flexible financing, and further strengthen collaboration between the government and financial sector in advancing the UAE's economic resilience and sustainability.
ARN News Center
21-05-2025
- Business
- ARN News Center
MoIAT secures AED 40 billion in bank partnerships to boost UAE industry
The UAE Ministry of Industry and Advanced Technology has secured over AED 40 billion in financing to boost the country's industrial sector, following the signing of five major agreements with leading national banks. Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, witnessed the signing of Memoranda of Understanding with First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank. The agreements aim to provide competitive financing for industrial companies, particularly small and medium-sized enterprises, and to support investment in advanced technologies across the UAE. Omar Al Suwaidi, Under-Secretary at the Ministry, said the initiative reflects the Ministry's commitment to empowering the industrial sector through strategic partnerships with top financial institutions. He added that the MoUs will help SMEs scale, innovate and contribute to the UAE's goal of building a diversified, knowledge-based economy. The partnerships will foster entrepreneurship, enhance access to flexible financing, and further strengthen collaboration between the government and financial sector in advancing the UAE's economic resilience and sustainability.
Al Etihad
20-05-2025
- Business
- Al Etihad
MoIAT secures over Dh40 billion in bank partnerships to drive industrial innovation
20 May 2025 20:13 ABU DHABI (WAM)Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, witnessed the signing of five Memoranda of Understanding (MoUs) between the ministry and a group of leading national banks: First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO agreements provide competitive financing solutions exceeding Dh40 billion to support the development and expansion of the UAE's industrial MoUs are intended to stimulate investments in industry and advanced technology, offer tailored financing for small and medium-sized enterprises (SMEs), and strengthen strategic public-private partnerships. This initiative supports the UAE's broader objectives for industrial growth and sustainable economic Al Suwaidi, Under-Secretary of Ministry of Industry and Advanced Technology (MoIAT), represented the ministry. Signatories from the partner banks included Fahad Al Shaer, CEO of First Abu Dhabi Islamic Finance, Abdullah Al Shamsi, ADCB's Group Chief Business Officer; Ala'a Eraiqat, Group CEO of Abu Dhabi Commercial Bank Group; Mohammed Abdelbary, Group CEO of Abu Dhabi Islamic Bank; Hisham Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group; and Jayesh Patel, CEO of WIO partnerships underscore MoIAT's commitment to enabling financial access and innovation within the industrial sector. The initiative is designed to foster entrepreneurship, encourage the adoption of advanced technologies, and support the expansion of industrial enterprises across the Suwaidi, said, "The MoUs signed with the leading national banks today reaffirm our commitment to empowering the industrial sector through strategic collaboration with top financial institutions. These innovative financing solutions are designed to enable sustainable industrial growth, aligned with the UAE's vision of a diversified, knowledge-based economy driven by innovation."He highlighted the crucial role of the MoUs in supporting SMEs by improving their ability to scale, adopt advanced technologies, and contribute significantly to the National Strategy for Industry and Advanced Technology.'We highly value the crucial role of national banks in enhancing the business environment and enabling industry access to flexible, impactful financial solutions. This reflects a robust synergy between the government and the financial sector in advancing the UAE's economic resilience and sustainability,' AI Suwaidi his part, Mohamed Abdulbari Group Chief Executive Officer at Abu Dhabi Islamic Bank (ADIB), said, 'This MoU reflects our commitment to the growth of the UAE's industrial and SME sectors through ethical, Sharia-compliant financing. We are proud to collaborate with MoIAT to deliver innovative banking solutions that align with national development priorities and help businesses scale up with confidence."Hana Al Rostamani, Group Chief Executive Officer at First Abu Dhabi Bank (FAB), said, 'FAB is proud to strengthen its partnership with the Ministry of Industry and Advanced Technology (MoIAT) as we advance the next chapter of the UAE's industrial development. Through this renewed Dh5 billion commitment, we will extend tailored, competitive financing to support the full spectrum of industrial enterprises from emerging startups to large manufacturers driving growth across the sector. "Surpassing our previous commitment reflects both the strength of the national industrial base and FAB's ability to deploy capital with impact. Together with MoIAT, we are championing an innovation-driven industrial ecosystem that will power the UAE's long-term competitiveness and regional leadership in advanced manufacturing.'Ala'a Eraiqat, ADCB Group Chief Executive Officer, said, 'ADCB is a proud supporter of Make it in the Emirates, an ambitious reflection of the UAE's bold vision for a diversified, innovation-driven economy. As a financial institution deeply rooted in this nation's progress, we view it as both our responsibility and privilege to contribute to shaping a resilient industrial ecosystem that drives long-term value. We remain committed to working collaboratively with our partners to help unlock opportunities that serve both national aspirations and create enduring value for future generations."On his part, Shayne Nelson, Group CEO of Emirates NBD, said, 'Make it in the Emirates initiative is a unique project that will greatly benefit the industrial aspirations of the UAE for many years to come. Emirates NBD is proud to partner with the Ministry of Industry and Advanced Technology on an initiative of such great importance and scope, particularly one that fully aligns with our shared strategic, investment, and development objectives.'He added, 'Our expertise, experience and specialised knowledge of the UAE's economic and industrial landscape means Emirates NBD is well placed to identify, engage, and empower companies, from startups to established firms, that have the product and potential to contribute to the nation's economic vision. Make it in the Emirates is an exciting initiative that will drive growth, welcome investors, and shape the UAE's role as an advanced, dynamic hub for manufacturing, industry and innovation.'Jayesh Patel, CEO of Wio Bank PJSC, said, "The UAE is strengthening its position as a leading destination for advanced industries, with tremendous growth in manufacturing as global businesses expand and invest locally. We are proud to support the drive to Make It in the Emirates through our partnership with MoIAT, combining Wio Bank's digital banking capabilities with the ministry's mission to accelerate industrial innovation and diversification. "Through this initiative, Wio aims to extend up to AED1 billion in working capital to eligible corporates and SMEs, and in doing so, enabling smarter access to financial services and supporting the growth of high-impact technology-driven enterprises that are vital to the UAE's economic transformation.' Make it in the Emirates Continue full coverage
