KHALEEJ TIMES, Monday, Sep 21, 2020 | Safar 04, 1442
Adnoc partners with Mubadala, Enec to drive in-country value for UAE
Emirates:
The Abu Dhabi National Oil Company (Adnoc) has signed two framework
agreements with Mubadala Investment Company and Emirates Nuclear Energy
Corporation (Enec) to partner on Adnoc's In-Country Value (ICV) programme
following the success of the programme which has driven more than Dh44
billion ($12 billion) back into the UAE's economy and created over 1,500
private-sector jobs for Emiratis since it was launched in January 2018.
The partnership brings together three of the UAE's leading companies to
cooperate in further driving ICV for the country. It expands the number of
entities that Adnoc has partnered with to adopt its ICV programme following
similar agreements with the Abu Dhabi Department for Economic Development, Abu
Dhabi Ports, and Aldar Properties.
These framework agreements also reinforce the commitment of Adnoc, Mubadala, and
Enec to enabling the growth and diversification of the UAE's economy.
Under the terms of the agreements, Adnoc, Mubadala, and Enec will explore
potential opportunities for collaboration in creating additional skilled
employment opportunities for Emiratis in the private sector and sourcing goods
and services within the UAE.
In addition, the agreements will see Adnoc and both companies explore the
potential for further localizing strategically critical parts of their value
chain, which they have been driving in recent years and particularly as they
respond to Covid-19.
The agreements were signed by Rashed Saud Al Shamsi, director, Commercial
Directorate at Adnoc; Homaid Al Shimmari, deputy group CEO, chief corporate &
human capital officer at Mubadala; and Ali Al Zaabi, COO at Enec.
Al Shamsi said: "We are very pleased to be partnering with Mubadala and Enec to
standardise the In-Country Value certification process across both companies.
These agreements build on the success of Adnoc's ICV programme which continues
to create opportunities for the private sector, generate jobs for Emiratis, and
catalyze socio-economic development in the country, in line with the wise
directives of the leadership. The agreements will enable Adnoc and both
companies collaborate to further drive the localisation of goods and services
across our value chains and we look forward to swiftly progressing the
agreements as they offer significant potential to maximize value for the UAE."
Adnoc's ICV Programme was launched in January 2018 to encourage private-sector
partnerships and opportunities resulting from the company's 2030 smart growth
strategy, catalyze socio-economic development, improve knowledge-transfer and
generate jobs for UAE nationals.
Commenting on behalf of Enec, Ali Al Zaabi said: "The signing of this agreement
underlines the continued commitment of the Emirates Nuclear Energy Corporation,
through the UAE Peaceful Nuclear Energy Programme and its cornerstone Barakah
Nuclear Energy Plant, to stimulating strategic sectors of the economy,
supporting local companies and providing valuable jobs. This is important both
to the sustainability of the UAE Programme and to the country's efforts to
diversify towards a knowledge and innovation-based economy.
"The UAE Peaceful Nuclear Energy Programme adopts the highest quality and safety
standards for management and technology, and Enec is committed to supporting
local companies in meeting the very demanding requirements of the national
regulator, and wider international nuclear industry. To date, over 2,000 local
companies have been awarded contracts with Enec worth Dh17.5 billion and,
following the recent connection of the first unit of the Barakah plant to the
UAE grid, we look forward to further building in-country value over the coming
six decades of operations ahead."
More than 4,000 suppliers across various sectors such as oil and gas,
construction, food and hospitality are certified in Adnoc's ICV Programmeme,
which serves as the primary enabler of Adnoc's - and suppliers' - contributions
to the UAE's socio-economic growth and development.
Speaking on behalf of Mubadala, Haifa Al Maskari, director of Business Services,
said: "The In-Country Value Programme has been shown to significantly contribute
to the economic development of the UAE, while simultaneously creating jobs for
Emiratis within the private sector. Partnering with Adnoc on this critical
national initiative will ensure that we continue to create sustainable value for
the local economy while supporting its diversification and growth."
In February 2020, Adnoc and the Abu Dhabi Department for Economic Development
signed a framework agreement to integrate and standardise Adnoc's ICV
certification programme across the Abu Dhabi Government's procurement process.
This followed a similar agreement signed between Adnoc, Abu Dhabi Ports, and
Aldar Properties in November 2019 that extended the reach of Adnoc's ICV
Programme to the logistics and construction sectors.
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