- Abu Dhabi's new AgriFood
Growth & Water Abundance cluster taps into a USD 21.08 trillion industry
- The cluster is projected to attract USD 34.8 billion in investments, create more than
60,000 new jobs, and contribute USD 24.5
billion Abu Dhabi's economy
by 2045
ABU
DHABI, UAE, June 15,
2024 /PRNewswire/ -- Abu
Dhabi is paving the way for international investors to
capitalise on opportunities provided by the recently launched
AgriFood Growth & Water Abundance (AGWA), which is tapping into
a USD 21.08 trillion (AED 77.4
trillion) industry with immense potential for growth and job
creation.
Since the launch of AGWA last week by His Highness Sheikh
Khaled bin Mohamed bin Zayed Al
Nahyan, Crown Prince of Abu
Dhabi and Chairman of the Abu Dhabi Executive Council, the
Abu Dhabi Department of Economic Development (ADDED) and the Abu
Dhabi Investment Office (ADIO) have announced key agreements with
local and federal government entities to streamline regulatory
approvals for the food and water industry, advancing it to play a
leading role in global efforts to tackle food shortages and water
scarcity.
USD 21.08
trillion
Global industry
of AgriFood Growth &
Water
|
|
60,00 new jobs
To be created by Abu
Dhabi
new cluster
|
|
USD 24.5 billion
Contribution of the
new
cluster to Abu Dhabi GDP by
2045
|
|
|
Enabling investors
To benefit from
opportunities provided
by AGWA and soaring
'Falcon Economy'
|
|
Future-proofing
The economy and
enhancing sustainability
|
|
USD 34.8
billion
Investments to be
attracted by AGWA
|
|
|
By leveraging the regulatory environment and efficient licensing
to ensure safe and secure production, AGWA will support attraction
of investors and pioneers to launch new innovations and enable them
to enhance traditional food and water production and supply.
AGWA is projected to attract USD 34.8
billion (AED 128 billion) in investments, create more than
60,000 new jobs, and contribute USD 24.5
billion (AED 90 billion) in incremental GDP to Abu Dhabi's economy by 2045.
His Excellency Ahmed Jasim Al Zaabi, Chairman of the Abu
Dhabi Department of Economic Development (ADDED), said:
"The launch of AgriFood Growth & Water Abundance cluster (AGWA)
is part of our multi-polar strategy to future-proof the economy,
enhance sustainability, and shape a brighter tomorrow for
Abu Dhabi and the world".
"We are developing appropriate frameworks and building synergies
to enable investors to benefit from opportunities provided by AGWA
and our soaring 'Falcon Economy' to grow and expand, supported by a
business-friendly ecosystem, agile policies, robust infrastructure,
access to funding, advanced trade facilitation solutions, and
international markets connectivity to accelerate our transition to
a smart, diversified, and sustainable economy."
Led by the ADDED and ADIO, AGWA is set to become a global hub
for novel food and ingredients, as well as technologies to increase
access to and the utilisation of water resources. The innovative
cluster is designed to support suppliers and exporters alike,
serving as a platform to maximise commercial opportunities. It aims
to help meet increasing global demand, alleviate pressures on
agricultural systems, address shifting dietary patterns, capitalise
on technological advancements, and support global food security to
ensure a reliable and resilient supply chain.
The cluster represents the next phase of Abu Dhabi's economic growth and
diversification strategy to focus investments and resources into
key growth sectors of the future. AGWA follows the 2023 launch of
the Smart and Autonomous Vehicle Industries (SAVI) cluster, which
aims to position Abu Dhabi at the
forefront of future mobility solutions across air, land, and
sea.
About ADDED:
The Abu Dhabi Department of Economic Development (ADDED), the
catalyst for economic growth and diversification, regulates the
business sector in the Emirate and leads economic initiatives to
achieve a knowledge-based, diversified, and sustainable economy.
ADDED adopts best policies and practices based on the latest
research and statistics, devotes its efforts to elevate the
development and renaissance across various sectors, and prepares
strategic programs and plans by adopting the best economic and
administrative practices, applying the latest technology and
drawing on global expertise.
ADDED strives to improve the investment climate in the Emirate
by enhancing prospects for cooperation with strategic partners and
ensure principles of innovation, transparency, and
knowledge-sharing are followed to strengthening the business
ecosystem to enhance Abu Dhabi as
preferred destination for business and investments.
For further info, please visit
www.added.gov.ae
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SOURCE Abu Dhabi Department of Economic Development