Friday 09 December 2022 - 12:00:45 am

Tawazun injects AED2 billion annually in added value, says CEO

ABU DHABI, 21st June, 2022 (WAM) -- Tawazun Economic Council (Tawazun) - the UAE defence and security acquisitions authority for the UAE Armed Forces, Abu Dhabi Police and national security agencies - injects, through its Tawazun Economic Programme, AED2 billion annually as an added value to the national economy, said 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 capitalise 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 defence 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."

"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," he stated.

WAM/أ /Lina ibrahim/Khoder Nashar