Abu Dhabi’s Ministry of Economic Development is expanding its electricity tariff incentive program to include small and medium-sized enterprises in the industrial sector, to help them increase their competitiveness and improve their energy efficiency.
The program, which is part of Abu Dhabi’s Ghadan 21 initiative, will help factories increase their value in the local market and enable them to compete in regional and international markets, the agency said on Tuesday.
It will also provide competitive electricity prices for the industrial sector, raise awareness of energy efficiency and increase productivity, said Rashid Al Balooshi, the deputy secretary of the department.
Abu Dhabi’s decision to expand the program comes as the UAE seeks to increase the manufacturing sector’s contribution to the country’s economic output to Dh300bn over the next decade, from Dh133bn currently . The initiative also provides for the creation of 13,500 industrial companies.
ETIP, which is a joint initiative of Abu Dhabi Distribution Company, Al Ain Distribution Company and the Industrial Development Bureau, offers discount on industrial tariffs for sites with active industrial licenses that meet certain criteria. of eligibility.
Companies are assessed on the basis of their contribution to Abu Dhabi’s economy, their productivity and the site’s installed power supply capacity, according to the ADDC website.
The IDB has issued 51 certificates registered for industrial entities in Abu Dhabi under this program, the authorities said.
Meanwhile, ETIP helped increase the rate of return by 25% on investments in these facilities, while manufacturers received 610 million dirhams in benefits and incentives from the government of Abu Dhabi, Added said.
The productivity of factories that have obtained the ETIP certificate has already increased by 14%, the agency said.
âETIP is aligned with the vision and mission of the Abu Dhabi government, which aims to improve the emirate’s competitiveness on a global scale and create new investment opportunities that support the ecosystem of the economy local government in the non-oil sectors, providing it with the highest sustainability standards. and operational efficiency, âsaid Mr. Al Balooshi.
Update: September 28, 2021, 4:31 p.m.