{"id":103958,"date":"2025-05-23T00:00:00","date_gmt":"2025-05-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/make-it-in-the-emirates-final-day-delivers-more-financing-for-industrials-ev-healthcare-and-oil-and-gas-partnerships\/"},"modified":"2025-05-23T00:00:00","modified_gmt":"2025-05-23T00:00:00","slug":"make-it-in-the-emirates-final-day-delivers-more-financing-for-industrials-ev-healthcare-and-oil-and-gas-partnerships","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/05\/23\/make-it-in-the-emirates-final-day-delivers-more-financing-for-industrials-ev-healthcare-and-oil-and-gas-partnerships\/","title":{"rendered":"Make it in the Emirates: Final day delivers more financing for industrials + EV, healthcare, and oil and gas partnerships"},"content":{"rendered":"

Make it in the Emirates wrapped yesterday after a four-day run that saw AED <\/strong>11 bn worth of industrial projects<\/strong>, AED bns worth of financing agreements, and plenty of smart manufacturing and tech-focused partnerships. Some AED 7.8 bn offtake agreements were also inked, state news agency Wam<\/a> reports. The highlights from the final day:<\/p>\n

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FINANCING-<\/p>\n

#1- <\/strong>FAB <\/strong>allocates additional AED 5 bn <\/strong>for industrial<\/strong> sector under renewed partnership:<\/strong> First Abu Dhabi Bank has renewed a 2023 agreement with the Industry and Advanced Technology Ministry, pledging an additional AED 5 bn in financing for industrial projects, Wam<\/a> reports. The new funding targets startups, SMEs, and large manufacturers, prioritizing projects focused on advanced technology adoption, sustainability, and innovation.<\/p>\n

The new commitment brings its total committed funds for the sector <\/strong>to AED 10 bn<\/strong>, and comes as part of some AED 40 bn in financing<\/a> for the sector pledged by UAE banks over the next five years. Our friends at Mashreq have also committed a total of AED 2 bn<\/a> to the sector as part of a partnership with the ministry. <\/p>\n

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#2- <\/strong>Adib <\/strong>pledges industrial and tech sector financing:<\/strong> Abu Dhabi Islamic Bank (Adib) also inked an agreement with the Industry and Advanced Technology Ministry to provide shariah-compliant financing for industrial and technology projects, according to a press release<\/a>. The funds will go towards small and medium enterprises to help support business expansion. <\/p>\n

#3-<\/strong> EBD and Rakbank earmark AED 1 bn for mSMEs:<\/strong> Emirates Development Bank (EBD) and the National Bank of Ras Al Khaimah (Rakbank) announced a strategic co-financing partnership to pour some AED 1 bn into micro, small, and medium enterprises (mSMEs) in the UAE, Al Khaleej<\/a> reports. The collaboration will focus primarily on critical growth sectors including manufacturing, food security, renewables, healthcare, and advanced technology.<\/p>\n

This is the latest funding support for SMEs<\/strong>, with Emirates Growth Fund (EFG) recently announcing<\/a> an AED 1 bn equity fund for Emirati SMEs. The equity fund is also focusing on priority sectors like healthcare, tech and manufacturing.<\/p>\n

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EVs-<\/p>\n

ROX <\/strong>Motors, W Motors to localize EV production in Abu Dhabi: <\/strong>Chinese electric vehicle brand ROX Motors has signed an MoU with Dubai-based W Motors, a strategic partner of EV manufacturer NWTN Motors, to produce its ROX 01 model in Abu Dhabi, according to a statement<\/a>. The agreement marks Rox Motors\u2019 first manufacturing base outside China, according to a separate press release<\/a>.<\/p>\n

ALSO- <\/strong>ROX has signed partnerships with renewables outfit Enercap to develop high-performance battery systems, it said on LinkedIn here<\/a>, and with Abu Dhabi-based Borouge on R&D for polyolefin-based automotive materials<\/a>. <\/p>\n

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HEALTHCARE-<\/p>\n

Borouge<\/strong>, Mubadala Bio sign medical manufacturing MoU: <\/strong>Adnoc petrochemicals JV Borouge signed a strategic agreement with Mubadala\u2019s new pharma arm, Mubadala Bio, to explore the supply of polyolefin materials for the local manufacturing of medical products, according to a press release<\/a>. Borouge\u2019s Bormed RG868MO \u2014 used in syringes, inhalers, and pharma packaging \u2014 is already in production at its Ruwais facility, marking the first time the product has been locally manufactured for healthcare use. A second medical-grade product is expected to launch by year-end.<\/p>\n

ICYMI- <\/strong>Mubadala Investment Company launched Mubadala Bio earlier this week<\/a> as a new pharma company to expand the UAE\u2019s drug manufacturing base and improve access to essential medicines and devices. Its portfolio includes 10 production sites across Asia, Africa, and Europe \u2014 including six in the UAE \u2014 with a combined annual output capacity of 2.5 bn tablets and 120 mn injectable units.<\/p>\n

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#2- <\/strong>Dubai <\/strong>Investments subsidiary Globalpharma signed four MoUs with international <\/strong>firms for the local manufacturing of products and exports abroad<\/strong>, according to a press release (pdf)<\/a>. The MoUs include:<\/p>\n