National Marine Dredging Group and Abu Dhabi Chamber sign MoU to engage Abu Dhabi-based suppliers in key strategic projects

• As a result of the MoU, the two parties will launch the ‘Let’s Grow Together’ initiative which aims to enhance supplier awareness of market needs and open new procurement avenues

Abu Dhabi, UAE; 06 March 2023: As part of their efforts to support and increase in-country value, National Marine Dredging Group (NMDC Group) and the Abu Dhabi Chamber of Commerce and Industry (ADCCI) signed a Memorandum of Understanding (MoU) to launch an initiative to maximize procurement opportunities and act as a catalyst for the development and growth of currently qualified and willing to qualify Abu Dhabi based businesses through their participation across NMDC Group’s wide portfolio of national and international projects.

The MoU was signed by Eng. Yasser Zaghloul, Group CEO of NMDC and H.E. Mohamed Helal Al Mheiri, Director General of the Abu Dhabi Chamber.

As part of the MoU, the two parties will exchange information, data and experiences related to strategies, policies, and plans to ensure clarity of the requirements for the Abu Dhabi supply chain, which will lead to increased opportunities and growth across the private sector of Abu Dhabi.

The MoU comes in line with the Abu Dhabi Chamber’s strategy launched in February, which centres on empowering the private sector in the Emirate and enhancing its competitiveness, to make Abu Dhabi the first choice in the MENA region for doing business by 2025. Through its role as a Networker, the Chamber supports the ‘Let’s Grow Together’ initiative by facilitating connections between businesses, suppliers, and other relevant entities, paving the way for strategic partnerships that contribute to the Emirate’s growth and prosperity.

The MoU has the following key mutual objectives:

• To communicate the requirements for qualification to participate in NMDC Group’s projects
• To identify development and growth opportunities in the private sector
• To enable the maximization of potential across the supply chain

As a result of the MoU, NMDC Group and ADDCI are launching the ‘Let’s Grow Together’ initiative with the slogan “Accelerate the growth and qualifications of Abu Dhabi local industries.” The initiative aims to enhance supplier awareness of market needs, increase their understanding of qualification criteria, open new procurement avenues and enable them to better meet clients’ expectations and capitalize on emerging trends.

His Excellency Abdulla Mohamed Al Mazrui, Chairman of the Abu Dhabi Chamber, said: “The Abu Dhabi Chamber is a major contributor to driving the economic growth of the Emirate of Abu Dhabi and developing a diverse and knowledge-based economy, in line with our wise leadership’s vision. As such, the Chamber is committed to fostering strategic networking opportunities for its members, enabling them to explore new avenues for operational success and contribute to the country's economic growth. Our ultimate goal is to establish Abu Dhabi as a leading global destination for business, and we will continue to work tirelessly to achieve this.”

H.E. Mohammed Thani Murshid Ghannam Al-Rumaithi, Chairman, NMDC Group, said, “NMDC Group has always sought high-impact initiatives that can benefit the business, the Abu Dhabi economy and very importantly our shareholders. Through this MoU with the Abu Dhabi Chamber, the Group will be poised to enhance its supply chain ecosystem, support the broader diversification of Abu Dhabi’s private sector and ultimately maximize shareholder value.”

Eng. Yasser Zaghloul, CEO, NMDC Group, said, “This MoU is the formalizing of NMDC Group and ADCCI’s shared vision to ensure the growth and development of Abu Dhabi’s private sector. Through this initiative we aim to highlight the growth opportunities that small and medium-sized businesses in Abu Dhabi can capture as part of our ongoing AED 54 billion projects as well as capitalize on additional awards expected over the next five years and equip these SMEs with the toolkit needed to join NMDC Group on its ambitious growth journey. It also exemplifies our efforts to support sustainable development, drive economic growth in the UAE, and create a strong and self-sufficient supply chain ecosystem.”

He added: “This collaboration with the Abu Dhabi Chamber of Commerce and Industry is a great opportunity to work hand in hand with our current and future suppliers, grow together and achieve greater results to ensure the continued prosperity of the nation and the communities we serve.”

H.E. Mohamed Helal Al Mheiri, Director General of the Abu Dhabi Chamber said, “We are pleased to sign this MoU with NMDC Group, which opens new prospects for growth and collaboration that will mutually benefit our organizations. This comes in line with our strategic vision to strengthen partnerships, both locally and internationally. The initiative paves the way for the Chamber’s members to strengthen their commercial ties, contribute to advancing the country's supply and construction sectors, and promote expansion plans in line with the objectives of Abu Dhabi Economic Vision 2030.”

“As the Voice of the Private Sector, the Abu Dhabi Chamber is always keen on supporting initiatives that drive the growth of private businesses. We are keen to drive engagement in the ‘Let’s Grow Together’ initiative, which provides companies with an unparalleled opportunity to grow their business, while contributing to the national economic development,” H.E. added.

On the launch day of the ‘Let’s Grow Together’ initiative set for March 16 and lasting for three days, NMDC Group and ADCCI will highlight supply chain needs and qualification criteria for future projects, and host roundtable discussions to encourage dialogue between suppliers, whereas days two and three will include on-site vendor registration. Representatives from the Chamber and NMDC Group will be available throughout the three-day initiative to clarify any questions attendees may have.