Modon Holding And Emaar Properties Sign MoUs For National ICV Programme Expansion

The Ministry of Industry and Advanced Technology (MoIAT) has signed four memoranda of understanding (MoUs) with Modon Holding, Emaar Properties, Silal Food & Technology, and Calidus Group. These agreements integrate these companies into the National In-Country Value (ICV) programme. This initiative aims to enhance growth and competitiveness by leveraging key enablers.

The MoUs were formalised during the Make it in the Emirates 2025 event. This economic programme, hosted by MoIAT and organised by Abu Dhabi National Exhibitions Company Group, was held in collaboration with strategic partners like the Ministry of Culture, ADNOC Group, and Abu Dhabi Investment Office. The theme "Advanced Industries. Accelerated" attracted manufacturers, investors, and innovators globally.

The National ICV Programme is a crucial part of the UAE’s Projects of the 50. It aligns with the National Strategy for Industry and Advanced Technology's objectives to redirect procurement spending back into the economy. The programme aims to foster economic benefits by encouraging government entities and national companies to reinvest locally.

The agreements were signed by Omar Al Suwaidi from MoIAT; Abdulla Al Sahi of Modon Holding; Ahmad Al Matrooshi from Emaar Properties; Salmeen Al Ameri of Silal Food & Technology; and Dr Khalifa Murad Alblooshi from Calidus Group. Tareq Al Hosani, Chairman of Calidus Group, witnessed the signing.

Modon Holding operates internationally across sectors like real estate, hospitality, asset management, investments, events, and tourism. Emaar Properties is renowned as a leading real estate developer both locally and globally. Silal Food & Technology focuses on diversifying food sources and boosting agri-food activities. Calidus Group specialises in advanced land and air defence systems.

These partnerships build on the success of the National ICV Programme within the industrial sector. By 2024's end, this initiative generated AED 347 billion in cumulative local expenditure. It supports industrial self-sufficiency while creating jobs and enhancing local economic value.

Impact on Industrial Self-Sufficiency

The efforts under this programme aim to promote self-reliance in essential products while empowering Emirati entrepreneurs through platforms like Make it in the Emirates. The fourth edition of this event saw significant participation from local and international stakeholders including government officials, private sector leaders, entrepreneurs, investors, industrialists, experts, innovators, financial institutions, and over 720 industrial companies showcasing innovative products.

This collaboration between MoIAT and key industry players underscores a commitment to strengthening cooperation for mutual benefit. By integrating these companies into the National ICV Programme framework, they can leverage opportunities that support their growth while contributing positively towards achieving national economic goals.

With inputs from WAM