H.E. Mohammed Ali Al Shorafa highlighted the importance of the partnership between ADDED, the owner of the Abu Dhabi Local Content Program initiative, and ADQ, one of the largest holding companies in the region focused on developing vital sectors of strategic importance to the UAE in general and Abu Dhabi in particular. H.E. Al Shorafa commended the close cooperation that will be established between ADDED and ADQ, which reflects their aligned efforts to empower the private sector and strengthen the role of small and medium-size enterprises (SMEs) in helping to achieve Abu Dhabi's sustainable economic development.
H.E. Al Shorafa reiterated that ADDED continues to fulfil its key role in driving sustainable economic development in the emirate by organising activities for the business sector, as well as issuing various types of commercial licences to enable investors and businessmen to conduct business activities in the emirate.
H.E. Mohamed Hassan Alsuwaidi, CEO of ADQ, praised the cooperation agreement with ADDED regarding the Abu Dhabi Local Content Program, highlighting that ADQ is keen to work with the Department in its efforts to promote the growth of diversified GDP as well as enhance private companies' contribution to the emirate's local economy.
H.E. Alsuwaidi reaffirmed ADQ’s commitment to driving value creation for the benefit of Abu Dhabi through its diverse portfolio of the emirate's leading entities. ADQ is also delivering initiatives to help nurture Abu Dhabi's startup ecosystem and SMEs.
H.E. Al Balooshi cited that during the second quarter of this year, the ADDED's ADLC Program has resulted in 23 government and semi-government entities acquiring ADLC certificates in their purchases, reaching a total of 1,438 certificates with a combined value of AED 25 billion. He added that that there were 78 tenders representing the number of government purchases awarded with an ADLC certificate by the end of Q2 2020, with a total value of AED 1.7 billion. Furthermore, government and semi-government entities are planning to open calls for more than 900 tenders which will require ICV certificates, with an estimated value of more than AED 19 billion.