Economic Development Program Overview
The Tawazun Economic Council (Tawazun) is mandated to be a prime enabler for the Defense and Security industry sector in the UAE with a strong focus on economic development. Tawazun is tasked with formulation and implementation of the Tawazun Economic Program (TEP) and Policy Guidelines. The TEP ensures that defense related procurement by the Government results in industrial participation by DCs. The principal drivers of such industrial participation are to generate high value economic, social and strategic benefits to the UAE.
Since 1992, Tawazun Economic Development Program has worked actively to diversify the UAE economy by creating new ventures in sectors of national importance. The council has partnered with international contractors, brought investments and latest technologies into UAE, generated knowledge based jobs for UAE nationals and created business opportunities for UAE companies.
The council has seven key objectives:
- Enabling the growth and development of the defense and security industry in the UAE by providing targeted inputs, attracting local and foreign capital and promoting long term partnerships. Additionally, there is a focus on creating opportunities in identified UAE strategic sectors.
- Supporting the establishment of Projects which provide sustainable economic benefit to the economy of the UAE in the form of business models that are financially independent, sustainable and long term in nature.
- Targeting new capability development, technology transfer and accelerated adoption of new technologies in both the defense and security sector and in the broader industrial sector, thereby contributing to economic diversification.
- Supporting innovation and R&D in the UAE, enabling companies in the UAE to move up the value chain and benefit from potential commercialization opportunities.
- Encouraging SMEs (Small and Medium Enterprises) participation as suppliers or local partners on major procurement contracts.
- Increasing competitiveness, productivity and export market access for UAE-based suppliers through supply chain integration into major global systems suppliers.
- Generating knowledge-based employment opportunities and capability development for UAE nationals.