Post by : Bianca
Haleem
ADNOC has officially emerged as the inaugural strategic ally for the recently introduced AED1 billion National Industrial Resilience Fund (NIRF) by the UAE Cabinet. This partnership was unveiled during the ‘Make it in the Emirates 2026’ event.
A trilateral agreement was forged among ADNOC, the Ministry of Industry and Advanced Technology (MoIAT), and Emirates Development Bank (EDB). Over the next five years, EDB will manage the fund.
The core objective of the National Industrial Resilience Fund is to fortify the UAE’s industrial supply chains, bolster local manufacturing, and diminish reliance on imports. The fund will also facilitate connections between the confirmed procurement needs of major firms and financial backing for local producers.
This initiative will concentrate on six key sectors, including food industries, manufacturing, primary metals, mechanical and electrical sectors, chemical industries, pharmaceuticals and medical supplies, and advanced technology and construction.
Through this agreement, ADNOC will synchronize its procurement strategies with the fund’s objectives. The company will share demand data, promote the localization of suppliers, and assure consistent long-term demand via procurement contracts. Additionally, ADNOC will partake in collaborative governance efforts to expedite execution.
MoIAT will identify priority sectors and products, translating procurement opportunities into industrial projects, and recommend suitable projects for financing support via the fund.
On the other hand, the Emirates Development Bank will evaluate projects using feasibility and risk criteria. The bank will also ensure financing through an accelerated approval process and will monitor project performance.
Hasan Jasem Al Nowais, Undersecretary of MoIAT, stated that the National Industrial Resilience Fund integrates the efforts of MoIAT, EDB, and strategic partners like ADNOC to enhance the UAE’s industrial financing framework and nurture local manufacturing growth.
Omar Abdullah Al Nuaimi, Acting Director of Commercial and In-Country Value (ICV) at ADNOC, emphasized that this partnership links ADNOC’s long-term procurement needs to financial support for local manufacturers. He reiterated ADNOC’s ongoing commitment to fostering local manufacturing through its ICV Programme, which has been pivotal in building industrial resilience and generating sustainable economic value since 2018.
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