The new target opens significant opportunities for local and international businesses to engage with ADNOC’s procurement pipeline, fostering investment in the UAE’s manufacturing and industrial sectors while creating jobs for Emiratis.
In 2024, ADNOC’s ICV programme reinvested Dhs55bn into the UAE economy, facilitating the creation of 5,500 private-sector jobs for UAE nationals, in collaboration with the Emirati Talent Competitiveness Council (Nafis).
Since 2018, ADNOC’s ICV programme has contributed Dhs242bn in economic value and employed 17,000 Emiratis in the private sector, reflecting its commitment to sustainable economic growth and talent development.
ADNOC continues to support the UAE’s vision for economic diversification. Yaser Saeed Almazrouei, ADNOC’s executive director of People, Commercial and Corporate Support, emphasized ADNOC’s role in driving the nation’s economic diversification through its ICV programme. “ADNOC remains a key driver of the UAE’s economic growth, expanding job opportunities for nationals and providing prospects for the private sector to contribute to industrial growth,” Almazrouei stated.
The ICV programme strengthens the UAE’s industrial sector by promoting local manufacturing and driving diversification. Since 2022, ADNOC has signed Dhs72bn worth of agreements with UAE-based and international companies to manufacture critical industrial products locally. This supports ADNOC’s target of producing Dhs90bn in products in the UAE by 2030.
Additionally, ADNOC is fostering growth in the UAE’s food industry. The company has secured over Dhs540m in agreements with 55 UAE-based sub-suppliers at the Global Food Week in Abu Dhabi. ADNOC’s food initiatives align with the UAE’s National Food Security Strategy, aiming to increase local produce in its supply chain from 25 to 60 per cent by 2024. At ADIPEC, ADNOC’s partners inaugurated eight new manufacturing facilities in the UAE, bringing the total to 16 in 2024.
