Economic Development Program Overview
The Tawazun Economic Development Program, which is overseen by the Tawazun Economic Council, is UAE’s industrial participation program that seeks to derive economic value from the country’s extensive defense procurement program.
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 six key objectives:
- Build critical national defense industry
- Create knowledge based economy
- Diversify UAE’s economy by growing the country’s Industrial base
- Create business opportunities for UAE private sector
- Generate high value exports
- Produce employment opportunities for UAE Nationals in high-tech field.