Abu Dhabi Department of Economic Development (ADDED) has signed a Memorandum of Understanding (MoU) with China’s Shandong province in order to enhance cooperation, exchange expertise, and data on the industrial sector.
The signing comes as the two sides work toward further boosting investment opportunities and affirming Abu Dhabi’s unique market attributes.
Mr. Rashed Abdulkarim Al Blooshi, Under-Secretary of ADDED, and Mr. Wang Xiao, Deputy Director-General of the Department of Industry and Information Technology in Shandong Province, virtually signed the MoU.
The agreement intends to establish a mechanism for exchanging information to improve industrial cooperation and facilitate delegation visits and investor meetings. It also seeks to organize entrepreneurship and management consultancy training programs between companies on both sides.
Rashed Abdulkarim Al Blooshi Undersecretary ADDED
“This MoU with Shandong Province is part of our efforts to strengthen relations with Abu Dhabi’s major trade partners; China is one of our largest partners in non-oil trade, particularly in industrial materials. It also reflects our plans to enhance the development of the manufacturing sector and to keep pace with Industry 4.0, which is one of the strategic objectives of Abu Dhabi economy.”
“The Abu Dhabi government is forging ahead with its active diversification roadmap, and as such is actively engaging with countries and cities bearing specialized firms and transfer technology from heavy-weight industrial players, including capital-intensive industries such as petrochemicals, pharmaceuticals and life sciences, technology, logistics or SME manufacturing which towards mutually beneficial and sustainable business outcomes and projects,” commented Mr. Khaled Banizama, Acting Executive Director of Industrial Development Bureau, part of ADDED.
