ITA Partners with UAE and Bahrain to Drive Green Industrial Transition in MENA

Bahrain, 12 November, 2024 : The Industrial Transition Accelerator (ITA) has partnered with the UAE and Bahrain to accelerate industrial decarbonization across the Middle East and North Africa (MENA) region, aiming to attract substantial investment by 2026. The partnerships were announced during an event in Abu Dhabi on November 7, as part of the ITA’s MENA Project Support Programme, which collaborates with industry, investors, and local governments to drive green growth.

As initial partners, the UAE’s Ministry of Industry and Advanced Technology and Bahrain’s Ministry of Industry and Commerce will work with the ITA to align green initiatives with national climate objectives. This collaboration builds on the ITA’s earlier program in Brazil and underscores MENA’s potential as a major green commodity producer.

H.E. Dr. Sultan Al Jaber, UAE’s Minister of Industry and Advanced Technology, expressed optimism about the region’s ability to lead industrial decarbonization. H.E. Abdulla Bin Adel Fakhro, Bahrain’s Minister of Industry and Commerce, noted Bahrain’s commitment to sustainable manufacturing, in line with its Industrial Sector Strategy (2022-2026), as part of this partnership.

Faustine Delasalle, ITA’s Executive Director, highlighted the significance of unlocking MENA's green project pipeline, which includes key net-zero industrial projects in the UAE. These projects could account for nearly 30% of the UAE’s 2030 climate targets if they reach Final Investment Decision (FID) by 2026.

Major UAE companies, including EMSteel, Emirates Global Aluminium, and Arabian Gulf Steel Industries, have signed agreements to work with the ITA. Corporate leaders from these firms emphasized the importance of industry collaboration, with projects already underway involving low-carbon products and the use of green hydrogen for green steel production.

The ITA plans to provide tailored support to help overcome investment barriers, stimulate demand for green goods, and address regulatory needs, aiming to make MENA a leader in global green industry transition.

Source : www.moic.gov.bh