MoIAT, Etihad Airways present new incentives for ICV companies
June 02, 2023 / 8:01 PM
Sharjah24 - WAM: The Ministry of Industry and Advanced Technology (MoIAT) signed a memorandum of understanding (MoU) with Etihad Aviation Group to provide new incentives for companies certified under the National In-Country Value (ICV) Programme.
The incentives include discounts on Etihad’s cargo rates and miles on-board flights.
The MoU was signed during the second edition of the Make it in the Emirates Forum, which was held at the Abu Dhabi Energy Centre from 31st May to 1st June, by Abdullah Al Shamsi, Assistant Under-Secretary for the Industrial Development Sector at MoIAT, and Mohammad Al Bulooki, Chief Operating Officer, Etihad Aviation Group.
The MoU builds on the close ties between the ministry and Etihad, which joined the ICV programme to support the objectives of the National Strategy for Industry and Advanced Technology and promote sustainable industrial growth.
Al Shamsi said, “The National ICV Programme is one of the pillars of our national industrial strategy. It supports certified companies by increasing the demand for local products and services, thus stimulating the growth of the industrial sector and resilience of domestic supply chains. Etihad Aviation Group is one of the ministry's strategic national partners. It joined the National ICV Programme in 2021 and prioritises local suppliers in its procurement strategy, reflecting the commitment of major national companies to supporting the country's sustainable industrial and economic development.”
Al Shamsi added, “This MoU aligns with the ministry’s efforts to help local manufacturers increase exports to regional and international markets. It also supports our work to attract Foreign Direct Investment by enhancing the UAE industrial value proposition and providing advantages and incentives that support the UAE's position as a global hub for industry and advanced technology.”
Since joining the National ICV Programme, Etihad Airways has encouraged international suppliers to establish branches in the UAE, attracting more foreign investments and strengthening supply chains.