Tawazun Economic Program Achievements Highlighted At 9th DCC Meeting In London
Tawazun Economic Council showcases program's new feature; Project Bank
Achievements of the new framework of Tawazun Economic Program were highlighted at the 9th Defense Contractors Council (DCC) meeting, held in London earlier this week.
Under the theme “Enabling Innovation and Partnerships", the meeting was attended by key industry leaders alongside DCC members, including representatives from local and international companies.
The DCC meeting, organized by the UAE defense and security industry enabler Tawazun Economic Council, examined the major milestones reached since the new framework was launched in February, ahead of the Defense and Security Equipment International event (DSEI).
In his opening remarks, Matar Ali Al Romaithi, Chief Economic Development Officer at Tawazun, welcomed the DCC members and partners, stressing on the importance of the defense and security industry, which has witnessed tremendous growth in the UAE and the region as a whole.
“The UAE enjoys a rich investment environment at a regional and international level. It is at the forefront in terms of competitiveness and efficiency across the region, which has led to the establishment of a promising knowledge and innovation-based defense and security sector. It has also resulted in the establishment of strong and solid partnerships that will contribute to knowledge transfer and technology further strengthening the UAE’s commitment to economic diversification.”
He discussed Tawazun’s eagerness to provide a detailed framework consisting of procedures and objectives, which are aligned with the UAE leadership’s vision.
“We have examined our processes, structure, and procedures while placing high importance on ease, convenience, efficiency and value at the forefront of our efforts. We look forward to the possibilities and opportunities to come as we work towards building and strengthening the sector,” he added.
Since the launch of the new Tawazun Economic Program framework, seven projects have been executed, while 10 other project concepts are currently underway.
The new program allows for the development of technology-driven solutions that extend beyond the defense and security industry to include, Aerospace; Infrastructure and Transportation; Education Technology; Sustainability; Environment and Climate Change; and Food and Water Security.
Abdulla Saif Al Awani, Executive Director of Economic Partnerships at Tawazun, detailed a proactive feature within the Program’s framework, which is aimed at creating more value to Tawazun’s industry partners.
The new feature, called Project Bank, matches technology with strategic priorities identifying gaps and improvement opportunities in the process. Through this feature, Tawazun identifies and develops a pool of project ideas aligned to key strategic UAE government objectives, allowing contractors to select project concepts from a cart of pre-approved concepts.
“This is a forward-looking feature, poised to add tremendous value to the UAE’s vision for a knowledge and innovation-based economy and technology-driven entrepreneurships” explained Al Awani.
The DCC members applauded the new value-focused program and the Project Bank, which offer greater flexibility to Tawazun’s partners.
