Abu Dhabi, 21 June 2022 – Tawazun Economic Council (Tawazun) – the UAE defense and security acquisitions authority for the UAE Armed Forces, Abu Dhabi Police and national security agencies – injects, through its Tawazun Economic Program, AED 2 billion annually as an added value to the national economy, said H.E. Tareq Abdulraheem Al Hosani, Chief Executive Officer of Tawazun.
Al Hosani made the remarks while addressing a panel discussion held as part of the Make it in the Emirates Forum that kicked off earlier today in Abu Dhabi.
“As the procurement arm for the UAE Armed Forces, Abu Dhabi Police and National Security agencies, we are one of the biggest buying entities in the country,” Al Hosani said.
“We are also looking at how we capitalize on existing raw materials that are produced in the UAE and how to use them not only for local manufacturing but also for products that will eventually hit the UAE market, to make sure that raw material that is used is also coming from the UAE,” he added.
Al Hosani noted that Tawazun has been championing investments in the defense sector for the last 30 years and “there has been a lot of learning and improvement to our strategies, as to how we do things over that time.”
He continued by saying: “We are focusing our strategy on how to support SMEs in terms of upskilling and certification, allowing them to have better quality products. At the same time we are looking to our larger international partners to have their own landed companies and direct foreign investment to help us upskill our SMEs and integrate them into their own supply chains.”
About Tawazun Economic Council
Tawazun is the UAE defense and security acquisitions authority for the UAE Armed Forces and Abu Dhabi Police; driving economic value through the Tawazun Economic Program and the Strategic Development Fund, facilitating ecosystem growth and human capability development through global and local partnerships, and empowering technology & innovation through the defense and security R&D ecosystem.
Founded in 1992, Tawazun Economic Council (Tawazun) has enabled the creation of more than 111 companies and investment vehicles within 12 sectors, and now serves as the catalyst for both economic growth and the development of the UAE defense and security industry.
Tawazun – towards an agile future
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