Jun 04, 2024

Emirates Development Bank, MoIAT and du and to empower 100 industrial companies to become Industry 4.0 adopters


Dubai, UAE, 27 May 2024 – In line with the objectives of the National Strategy for Industry and Advanced Technology, and under the umbrella of Technology Transformation Program (TTP), the Ministry of Industry and Advanced Technology (MoIAT), Emirates Development Bank , and du signed a Memorandum of Understanding (MoU) to initiate the Transform 4.0 Program. The program will empower companies to adopt 4IR solutions, aiming to revolutionize the UAE's industrial sector by selecting 100 high-potential manufacturers and supporting them to join the digital age. The aim is to establish Industry 4.0 lighthouses within three-to-five-years. This initiative underlines a shared commitment to bolstering the nation's competitive edge through significant digital advancements.

This pivotal agreement was formalized at the Make it in the Emirates (MIITE) Forum, supporting the initiative’s objective to enhance the UAE’s manufacturing landscape.

His Excellency Tariq Al Hashmi, Acting Assistant Undersecretary for the Advanced Technology Sector at MoIAT, said: "In line with the objectives of the National Strategy of Industry and Advanced Technology, in particular in the area of 4IR adoption, the Transform 4.0 Program is a testament to the UAE's proactive and forward-thinking approach to embracing the potential of Industry 4.0. It underscores our dedication to enhancing the capabilities of our manufacturing sector, ensuring that it remains at the forefront of technological innovation and efficiency.”

HE added: “This initiative, launched in line with the Technology Transformation Program, highlights our commitment to creating an ecosystem that supports and accelerates the digital transformation of our industries, contributing to the nation's economic diversification. Through this program, we will leverage du’s approach and its tailored digital transformation solutions that are capable of elevating national industrial competitiveness."

At the core of this visionary program is the intent to leverage du’s unique in-house consult-to-operate approach, offering tailored digital transformation solutions that promise to elevate the national manufacturing sector’s competitiveness and competency.

Jasim Al Awadi, Chief ICT Officer at du, said: "Today’s agreement marks the beginning of a transformational journey for the UAE's industrial sector. With the Transform 4.0 Program, du is committed to leveraging our in-house expertise and pioneering digital solutions to empower manufacturers, fostering innovation and excellence. Together, with our esteemed partners, we are setting the stage for a new era of industry 4.0 in the UAE, leading the way towards a future where digital transformation drives sustainable growth and competitive advantage."

The partnership will provide a robust support system for eligible manufacturers, encompassing advisory and implementation services, competitive financing rates in partnership with Emirates Development Bank, and comprehensive program governance – all at no cost to the participants. This integrated approach ensures that manufacturers are not only selected but also fully equipped and supported through their transformation journey.

Shaker Zainal, Chief Business Officer of Emirates Development Bank, commented: "At Emirates Development Bank, we recognize the importance of strategic partnerships as a catalyst for economic growth and industrial innovation. We are proud to spearhead this transformative initiative, providing the essential financial foundation to propel our manufacturers into the future. Through Transform 4.0, we are not only equipping our manufacturers with cutting-edge innovations and robust financial support but also consolidating the UAE's position as a global leader in industrial excellence. Manufacturing is one of Emirates Development Bank 's top five priority sectors, and this initiative underscores our commitment to technological advancements and sustainable growth within the industry.”

With a meticulously structured framework, the Transform 4.0 Program promises to offer significant qualitative and quantitative value to participants, paving the way for a new era of manufacturing excellence in the UAE. Through this initiative, the program's stakeholders aim to bolster the UAE's position as a global hub for innovation and industrial prowess.

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