Emirates Defense Companies Council (EDCC), an initiative of Tawazun Economic Council (Tawazun), hosted its seventh annual meeting on Wednesday, highlighting EDCC’s numerous achievements during the year and future facilitations to support UAE defense companies.
The meeting was attended by Matar Ali Al Romaithi, Chairman of the EDCC and 80 attendees from the Ministry of Defense (MOD), Department of Economic Development (DED), Ministry of Energy and Industry (MOEI), Abu Dhabi Chamber of Commerce and Industry (ADCI) and EDCC members, stakeholders and partners.
The meeting involved a workshop hosted by Tawazun Strategic Development Fund as well as presentations by Ministry of Defense (MOD), Department of Economic Development (DED) and Marakeb Technologies to showcase the continuous efforts of the government and the Fund in supporting national defense companies. The meeting also provided EDCC members opportunities to interact with EDCC’s board and highlighted the benefits and services provided to its members.
During the meeting, Sultan Abdulla Al Samahi, Acting General Manager of EDCC, showcased the Council’s latest achievements and future plans. “EDCC has witnessed a 24% increase in members. This increase is a testament to the strong and firm partnerships between EDCC and its members, which include the Ministry of Defense, UAE Armed Force GHQ and Tawazun Economic Council.”
“We continue to further enhance our partnerships and accelerate our efforts to fulfill our mandate as a national company who strongly believes in the importance of the defense sector, and the significant role it plays towards achieving sustainable economic and social development in line with the UAE’s vision,” he added.
Within the framework of the meeting, the MOD shared an update on the Ministry’s strategy and outlined sector inputs which provided members a guideline on key focuses and future needs of the industry. Another presentation by Khalid Bani Zama, Manager of local Content at DED showcased the Department’s latest project and initiatives.
During the meeting, the Tawazun Strategic Development Fund – the investment arm of Tawazun - launched the ‘Venture Debt Program’, which will provide local SMEs in the defense and security sector of the UAE with financial facilitations that will support expansion of their operations and development of their capabilities.
Emirates Defense Companies Council is an initiative of the Tawazun Economic Council (Tawazun). It was established in support of the Ministry of Defense, the UAE Armed Forces, and the Tawazun Economic Council. The initiative aims to empower companies in the defense and security sector and provide them with the suitable environment to develop their products and capabilities according to best international standards. The Emirates Defense Companies Council ultimately aims to support and develop the country’s economy and contribute towards economic diversification.