The Emirates Development Bank, the main financial driver of the economic diversification and industrial transformation agenda in the United Arab Emirates, concluded a successful participation in the Annual Investment Forum, which was held from May 8 to 10 at the Abu Dhabi National Exhibition Centre.
One of the most prominent activities in which the Emirates Development Bank participated during the two-day event was the participation of the CEO of the bank, Ahmed Mohammed Al Naqbi, in a discussion session on the industrial sector in the country. In addition to the bank’s review of its flexible and customized financing solutions, within its own pavilion at the Abu Dhabi National Exhibition Centre, and communicated with experts, investors and various large, medium and small companies.
Ahmed Mohamed Al Naqbi, CEO of the Emirates Development Bank, said: “Hosting the twelfth annual investment forum confirms the role of the UAE and its active contribution to global efforts to advance the business sector and promote economic development and competitiveness. The forum formed a strategic platform for exchanging knowledge and experiences, and exploring the best ways to enhance value and benefit for investors. It also provided an ideal platform to review the financial and non-financial solutions offered by the Emirates Development Bank to support large, medium and small companies, and highlight our contribution to the “Make in the UAE” campaign and the “Make in the UAE” strategy. 300 billion project to further enhance the industrial capabilities of the UAE.
During the forum, Al-Naqbi participated in a panel discussion entitled “Make in the UAE: Emerging Opportunities and Industrial Growth,” along with a number of prominent speakers, including Eng. Osama Amir Fadl, Assistant Undersecretary for the Industrial Accelerators Sector at the Ministry of Industry and Advanced Technology; Eng. Arafat Al Yafei, Executive Director of the Industrial Development Office of the Abu Dhabi Department of Economic Development; Ramy Jallad, CEO of RAKEZ Group; and Ayman Ismail, Vice President of Business Development, Governmental Affairs and Strategy at Schneider Electric.
During the session, the participants highlighted the UAE’s strengths in facing global challenges, consolidating its position as a preferred investment destination, and Al Naqbi discussed the UAE’s efforts to advance the national industry and enhance its industrial capabilities, establishing its position as a regional center for industry.
-In April 2021, the Emirates Development Bank launched its five-year strategy, which focused on five priority sectors in line with the country’s national development goals; They are industry, advanced technology, renewable energy, health care, and food security. The bank provides financial and non-financial solutions to support companies operating in these sectors, and aims to provide financial financing, at a value of 30 billion dirhams, to support 13,500 companies by 2026.
-The bank provides flexible financing solutions for industrial companies and projects with a significant developmental impact. These solutions include financing capital expenditures, advanced technology, renewable energy and energy efficiency projects, digitization, and project financing. These products fill the financing gap in the market, and enable companies to expand their operations and develop capabilities. new and job creation.
The annual investment forum witnessed discussion of important topics, including the options before companies, especially small and medium-sized companies, to finance their projects in light of the tightening global credit environment and the decline in investment capital. allocated to small and medium-sized companies. During its participation, the bank highlighted the direct and indirect financing options it offers with the aim of enhancing banking viability and financial inclusion for small and medium-sized companies. It also reviewed the benefits of the financing guarantee program, which provides partial guarantee to lending banks, and supports small and medium-sized companies to overcome financial challenges. These comprehensive offerings confirm Emirates Development Bank’s commitment to supporting the growth and development of small and medium enterprises in the UAE.
The bank’s participation in the “Make in the UAE” campaign and the “300 billion project” strategy reflects its support for the added national value program, by providing financing for companies and development projects in the five priority sectors, as the bank provides direct and indirect financing to support companies’ efforts to expand, modernize, and expand. And diversification, and the adoption of advanced technology, and the transition to renewable energy sources.
The Annual Investment Forum 2023 constituted an important platform for reviewing the huge investment opportunities across various industrial sectors, and the discussions that took place during the events emphasized the pivotal role of financing in providing expansion opportunities for companies of all sizes, and accelerating the path of economic growth.
