• HE Hasan Jasem Al Nowais – ‘Partnerships reflect UAE’s approach to translating industrial strategy into action at scale and speed’

Abu Dhabi-UAE: The Ministry of Industry and Advanced Technology (MoIAT) today unlocked AED 18 billion in competitive financing for the industrial sector to help manufacturers scale their production.

The ministry signed Memoranda of Understanding (MoUs) with Mashreq Bank and Dubai Islamic Bank to provide AED 10 billion over five years and AED 2 billion, respectively, while Emirates Development Bank separately allocated AED 6 billion, bringing the total to AED 18 billion as part of its ongoing partnership with MoIAT.

Signed at the fifth and largest edition of Make it in the Emirates (MIITE), the UAE’s flagship industrial platform, the agreements will provide access to competitive and flexible financing solutions to help companies of all sizes increase production and adopt advanced technologies while stimulating investment and strengthening supply chains.

The agreements were signed on behalf of MoIAT by His Excellency Eng. Osama Amir Fadhel, Assistant Undersecretary for the Industrial Accelerators Sector, Saud Al Jassim, Head of Business Banking at Dubai Islamic Bank, and Joel D Van Dusen as its new Head of Corporate and Investment Banking Group, in the presence of Hasan Jasem Al Nowais, Undersecretary of MoIAT, alongside senior officials and representatives from the banking and industrial sectors.

His Excellency Hasan Jasem Al Nowais, Undersecretary of MoIAT, said: “These partnerships reflect our approach to translating industrial strategy into action at scale and speed — strengthening ties with leading national financial institutions to support sustainable industrial growth and enhance supply chain resilience.

“The partnerships mark an important step forward in strengthening companies' ability to grow, adopt advanced technologies, and contribute to the objectives of the National Strategy for Industry and Advanced Technology. National financial institutions play a vital role in enabling the industrial sector, particularly through credit guarantees, and aligning their financial products with industrial and trade policies.”

Mashreq Bank will provide green loans, green bonds, sustainability-linked loans and bonds, supply chain financing programs, as well as trade finance services and financial advisory support. These offerings aim to support the growth of national industrial exports through the bank's international network. The agreement also includes financial awareness and advisory services to help industrial enterprises boost their readiness for global markets.

Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, said: “The AED 6 billion competitive financing underscores EDB’s commitment to strengthening the UAE’s industrial sector by providing businesses with accessible and competitive funding solutions. This initiative will support manufacturers in scaling their operations, enhancing competitiveness, and expanding into new markets, in line with the UAE’s economic diversification and efforts to reinforce its position as a global hub for advanced industry.”

Saud Al Jassim, Head of Business Banking at Dubai Islamic Bank, said: “This agreement reflects the importance of partnerships between the government and banking sectors in enabling the UAE’s industrial sector. Through our collaboration with MoIAT under Make it in the Emirates 2026, Dubai Islamic Bank reaffirms its commitment to supporting national objectives and industrial enterprises with Sharia-compliant banking solutions that help strengthen their ability to grow, improve operational efficiency, and adopt advanced technologies, supporting the competitiveness of the industrial sector and enhancing its contribution to the national economy.”

Ahmed Abdelaal, Group CEO, Mashreq, said: “The UAE's ambition to lift the industrial sector's GDP contribution to AED 300 billion by 2031 is one of the most defining economic transformations of this decade and Mashreq is fully committed to supporting this goal. Through this MoU, we will deploy AED 10 billion of competitive financing over five years, spanning term financing, supply chain finance and trade solutions delivered through our international network to give UAE industrialists the capital, the advisory, and the global reach they need to scale.

“Building on the commitments we have consistently exceeded under previous agreements with the ministry, our dedicated manufacturing division stands ready to be the partner of choice for every company building under Make it in the Emirates. As one of the UAE's oldest banks, Mashreq has been financing the country's industrial backbone for over five decades, and this commitment with MoIAT marks our most ambitious chapter yet.”

Partnerships with national financial institutions are a cornerstone of industrial growth, competitiveness, and localization. They are critical to building a diversified, knowledge-based economy driven by innovation and advanced industry.

For more information about the fifth edition of MIITE, visit: https://www.miite.ae

About Make it in the Emirates (MIITE)  

Make it in the Emirates (MIITE) is the UAE’s national industrial platform, led by the Ministry of Industry and Advanced Technology (MoIAT), driving industrial growth, localization, and global competitiveness. 

Now in its fifth edition, MIITE brings together policymakers, industry leaders, investors, and manufacturers to enable partnerships, unlock procurement opportunities, and accelerate the adoption of advanced manufacturing and AI across priority sectors. 

Through the In‑Country Value (ICV) program, the platform connects demand with domestic manufacturing capability, strengthens local supply chains, and supports the localization of 5,000+ products across priority industries. MIITE also provides companies access to more than AED 168 billion in manufacturing and procurement opportunities. 

Hosted by the Ministry of Industry and Advanced Technology (MoIAT), in collaboration with the Ministry of Culture, the Abu Dhabi Investment Office, the ADNOC Group and L’IMAD Holding Company, and organized by the ADNEC Group, MIITE supports the UAE’s long-term economic diversification ambitions under “We the UAE 2031” and “UAE Centennial 2071”. 

For more information, visit www.moiat.gov.ae 

For media enquiries, please contact: media@moiat.gov.ae 

 About the Ministry of Industry and Advanced Technology (MoIAT) 

The Ministry of Industry and Advanced Technology (MoIAT) of the United Arab Emirates shapes industrial policies, advances technology transformation, enhances the competitiveness of the national industrial sector, and develops the UAE’s quality infrastructure. These efforts support the growth of a sustainable and advanced industrial economy, recognizing industry as a cornerstone of the national economy and security, contributing to stability, continuity, and resilience in a rapidly evolving global landscape. 

Established in July 2020, the Ministry was created to empower the national industrial sector and accelerate industrial transformation across the UAE. MoIAT builds strategic partnerships and leads national initiatives that support the growth of future industries, strengthen economic resilience, and attract industrial investment. 

The Ministry works to advance the objectives of the National Strategy for Industry and Advanced Technology, strengthen supply chain resilience, support technology transformation and expand access to global markets. It focuses on accelerating the adoption of Fourth Industrial Revolution technologies across priority sectors including food security, healthcare, defense, space, aerospace and digital economy. 

MoIAT also enhances national In-Country Value (ICV), supports entrepreneurship, and empower Emirati talent, contributing to the competitiveness of UAE-manufactured products in both local and international markets. 

Through initiatives such as Make it in the Emirates, the ICV Program, and the Technology Transformation Program (TTP), MoIAT connects manufacturers, investors, startups, and entrepreneurs to offtake opportunities, financing solutions, and strategic partnerships that enable business growth, advance industrial self-sufficiency, and deliver tangible economic and social impact. 

For more information, visit www.moiat.gov.ae 

For media enquiries, please contact:  MEDIA@moiat.gov.ae 

About the Ministry of Culture 

The UAE’s Ministry of Culture is guided by the noble vision of nurturing ‘Culture that Inspires the World’, aligning with the wise leadership’s ambitious aim to build a harmonious society led by patriotism, confidence in its leadership, and a commitment to positioning culture and creativity as instruments of knowledge dissemination and inclusivity. This vision also reflects the Ministry’s goal of nurturing a holistic sense of national identity rooted in Emirati cultural values, which serves as a source of inspiration for all citizens due to its distinct principles.  

To realise this vision, the Ministry strives to enhance national identity, highlighting its key role in positively shaping citizens’ lives. This includes concerted efforts to protect the UAE’s tangible and intangible cultural heritage, while embedding it as an integral facet of social consciousness, through strategic national ventures, documentation and social-awareness programmes. The Ministry is also dedicated to preserving the integrity of the Arabic language through policies and initiatives that ensure its presence and use across diverse sectors.  

Moreover, the Ministry has developed a national strategy for the cultural and creative industries, in partnership with various federal government entities, further underscoring this vital sector’s economic significance. This strategy is based on various key pillars, such as empowering creators, integrating them into the labour market, enhancing their business environment and attracting new talents to support the sector’s ongoing growth and enhance its contribution to the national GDP.  

The Ministry further supervises operations of a range of cultural assets and centres across the country. It also organises community-based cultural initiatives and events at these venues, in addition to implementing creator empowerment and up-skilling programmes, which aim to enhance the local community’s participation in cultural and creative fields. Moreover, the Ministry represents the UAE at both regional and international cultural forums, including UN meetings, while also leading several international initiatives, such as cultural exchange programs and signing of MoUs.   

Abu Dhabi Investment Office (ADIO):   

The Abu Dhabi Investment Office (ADIO) is the government vehicle responsible for accelerating Abu Dhabi’s growth and enabling the emirate’s economic transformation. Through comprehensive support services, ADIO enables both local and foreign investors to shape industries of the future set to transform liveability, technology, resources, and value-added services.   

Initiatives focused on regional tourism and retail development, as well as public-private partnerships, ensure that community well-being is at the centre of Abu Dhabi’s economic transformation. With a robust network of investors, strong collaboration with key stakeholders, and a global presence, ADIO is committed to empowering those who invest with Abu Dhabi to make a lasting global impact. For more information, visit:   

https://www.investinabudhabi.gov.ae   

About ADNOC  

ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification. To find out more, visit: www.adnoc.ae  

For media inquiries, please contact: media@adnoc.ae    

About ADNEC Group:  

ADNEC Group, part of Modon Holding, is renowned for its rich legacy and diverse business operations, stands as a formidable force in global business and leisure tourism. The Group is a leader in managing and developing international strategic assets and contributes to the sustainable growth of Abu Dhabi’s economy.  

ADNEC Group’s diverse business clusters span Venues, Events, F&B, Services, Tourism and Media. The Group operates the ADNEC Centre Abu Dhabi, the largest event venue in the MENA region and ADNEC Centre Al Ain, as well as the Business Design Centre and ExCeL London in the United Kingdom.  

Capital Events, the events management arm of ADNEC Group, is the leading organiser of some of the world’s most iconic events across strategic industry sectors including Defence and Security, Maritime Lifestyle, Media, Food & Beverage and Technology. Through its growing portfolio, Capital Events plays a crucial role in supporting Abu Dhabi to achieve its growth objectives as a global hub for business and leisure tourism.  

ADNEC Group’s Services cluster includes its subsidiary Capital 360 Event Experiences that provides distinguished event experiences to its clients and stakeholders. The Group also launched Capital Protocol in 2023 that provides a specialised VIP protocol service which is operated by its Service cluster.  

ADNEC Group F&B cluster consists of Capital Catering and Royal Catering Services, which caters to numerous sectors including aviation, healthcare, defence, energy, business and industry, and event venues.  

Tourism 365, the Group’s tourism arm, delivers tailored tourism services and operates Capital Holidays, a fast-growing tour operator with a global footprint across the UAE, Saudi Arabia, the UK and Germany.  

Additionally, twofour54, a key player in Abu Dhabi’s sustainable media and film industry, is part of ADNEC Group’s diversified portfolio, further reinforcing its role in advancing the emirate’s creative economy.  

Recognised internationally for its commitment to excellence, innovation, and sustainability, ADNEC Group has garnered numerous awards, solidifying its status as a leader in the industry.