ADNOC to Introduce In-Country Value Strategy Aimed at Strengthening the UAE’s Private Sector
The In-Country Value strategy aims to nurture new partnerships and opportunities, catalyse socio-economic growth, improve knowledge transfer, and create private sector jobs for UAE nationals to drive emiratization.
The strategy will also encourage international companies to collaborate more closely with local SMEs to increase their in-country value contribution. In parallel, the strategy will also help improve the competitiveness of local companies by driving their performance, efficiency and quality of services.
H.E. Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO said: “As per the leadership’s vision to strengthen engagement with the private sector and help enhance their competitiveness, we are introducing an in-country value strategy that will help support their continued sustainable growth.
“Over the years, ADNOC and the private sector have worked in partnership to support the development of the UAE’s socio-economic development and it is important that we enhance our collaboration as ADNOC embarks on its ambitious smart growth strategy. Importantly, the ‘In-Country Value’ strategy will help ensure local suppliers and businesses are well positioned to contribute to upcoming projects. The success of the private sector is essential to our success.
“Our ‘In-Country Value’ strategy aims to deliver greater opportunity for the UAE’s private sector by encouraging closer collaboration from international firms. This will help enhance their competitiveness by driving improved efficiency and enhanced performance. In addition, the strategy will help drive greater job creation for young Emirati talent across the private sector and support their training and development,” H.E. Dr Al Jaber added
The launch of the In-Country Value strategy is an extension of ADNOC’s 2030 smart growth strategy. With ADNOC’s ambitious growth plans, the new In-Country Value strategy will help ensure that domestic businesses are well positioned to capitalize on upcoming large-scale projects that form the foundation of ADNOC’s growth plans and targets. The new strategy also further reinforces ADNOC’s commitment to support the private sector and their role in driving economic diversification as well as GDP growth.