Business / News / Asia
EGA Joins National Partnership Aimed At Doubling Its Impact On The Domestic Economy By 2040
Nov. 25, 2021 by Staff
Source: EGA
Emirates Global Aluminium PJSC (EGA) announced this week that it will participate in the United Arab Emirates' Ministry of Industry & Advanced Technology's (MoIAT) in-country value (ICV) program as part of a push to double its impact upon the country's economy by 2040.
Representatives from EGA met with ministers from the UAE's Ministry of Industry & Advanced Technology on Monday to execute a memorandum of understanding over the National In-Country Value (ICV) Program. The MoU is intended to promote cooperation between EGA and the government in channeling public- and private-sector purchases to domestic purchasers of aluminium and related products.
UAE's Undersecretary of the Ministry of Industry and Advanced Technology Omar Suwaina Al Suwaidi said in a company press release that "the National In-Country Value Program will enhance the capabilities of local suppliers holding a National In-Country Value Certificate through increased demand for local goods and services and the redirection of more than 42 percent of government and participating private-sector procurement by 2025. This will create new business opportunities, stimulate industrial growth, and incentivize Advanced Technology adoption."
"The signing of the memorandum of understanding represents a big boost to the program. By joining the program, EGA is making an important contribution to the UAE's industrial strategy, and we look forward to more national champions following suit."
EGA's CEO Abdulnasser Bin Kalban said that the partnership was in line with his firm's goals.
"Together at EGA we innovate aluminium to make modern life possible. One important way we make modern life possible in the UAE and the Republic of Guinea is through our contribution to sustainable economic growth. Our goal now is to double that economic impact over the next two decades."
"One of the most significant opportunities is local procurement," he continued. "Our demand for goods and services can help UAE companies grow and can spur the development of new industrial activities to supply us. We are looking forward to working with the Ministry on this important project."
Abdulnasser Bin Kalban / Emirates Global Aluminium / Emirates Global Aluminium (EGA) / Emirates Global Aluminium PJSC / Ministry of Industry and Advanced Technology / National In-Country Value Program / Omar Suwaina Al Suwaidi