AGP Executive Report

Local Manufacturing: ADNOC unveiled more than Dh60 billion ($16.3 billion) in UAE manufacturing opportunities through 2030, spanning over 200 products and spare parts. Procurement changes aim to cut supplier onboarding times by up to 80% and reduce import reliance. Infrastructure: Dubai Municipality awarded Dh3 billion in contracts for about 100km of stormwater drainage lines across key economic, industrial and tourism areas. Trade: The UAE and Benin signed a CEPA covering about 97% of current trade; officials expect it to lift UAE exports to Benin by more than $1 billion by 2033. Investment: A UAE-Greece partnership package worth €12.75 billion adds to plans for a further €15 billion in UAE investment in Greece.

Coastal Operations: Ras Al Khaimah closed all beaches as authorities assess an offshore oil leak, following closures in Umm Al Quwain and Sharjah. The spill raises environmental and tourism concerns, while the tanker’s identity and the leak’s cause remain unconfirmed. Manufacturing: MAHY Khoory plans to invest more than AED1 billion ($272 million) in a new paper machine at Union Paper Mills’ Al Dhafra plant, adding capacity for premium containerboard and specialist paper. Consumer Business: Dubai’s FIX Dessert won the Dubai-it Award after selling more than 6.5 million pieces in 15 months, helping turn “Dubai Chocolate” into a global product category. Mining: India’s NMDC is exploring mineral assets, including limestone, dolomite, coking coal and tungsten blocks in the UAE, as it seeks to diversify beyond iron ore. Clean Energy: Masdar expanded its Greek solar portfolio with a major acquisition, amid a broader UAE-Greece investment push.

Industrial Technology: Ras Al Khaimah is deepening ties with China, signing an agreement with robotics firm UBTECH to explore humanoid robot research, testing and deployment, while the emirate’s ruler also visited a smart manufacturing facility. Coastal Protection: Ras Al Khaimah has closed all beaches after an offshore oil leak prompted closures in neighbouring emirates; UAE teams are assessing the spill and working to contain it. Energy Markets: Oil prices climbed to their highest levels in nearly six months amid attacks on Saudi Arabia and supply concerns, as the UAE reported the spill. Gas Development: Thailand’s PTT and Italy’s Eni have formed a joint venture to hold their respective 10% interests in ADNOC’s offshore Ghasha concession. Clean Energy and Investment: Masdar agreed to acquire and develop a 550-plus-megawatt solar project in Greece and partner with Khazna Data Centers on green data centres, as the UAE and Greece announced major investment plans.

Energy and Maritime: An oil spill off Umm Al Quwain has closed beaches as crews work to contain it. Brent settled at $116.72 a barrel, with attacks on Saudi energy sites adding to supply concerns. Industrial Growth: MoIAT will present financing and technology incentives for UAE manufacturers at the Make it with ADNOC Forum on October 25. EDGE has also reached full-rate production on its automated ammunition line. Trade and Technology: The UAE plans a further €15 billion investment in Greece, while Abu Dhabi’s G42 and partners signed agreements to explore AI infrastructure and digital services there. Healthcare: Abu Dhabi’s health department and Merck will develop a fertility and IVF centre of excellence and academy to build local clinical expertise.

AI and Digital Infrastructure: Abu Dhabi’s G42 and five portfolio companies signed agreements with Greek partners to explore AI infrastructure, cloud services, smart cities and digital government projects, extending the UAE group’s European reach. Investment: The UAE announced plans for an additional €15 billion investment in Greece over the next five to eight years. Abu Dhabi’s Crown Prince also reviewed UAE-backed renewable-energy and healthcare ventures there, including Masdar-owned TERNA Energy and PureHealth’s stake in Hellenic Healthcare Group. Energy and Environment: Brent crude climbed above $117 a barrel amid regional attacks and supply fears. Separately, an oil spill off Umm Al Quwain prompted beach closures and cleanup efforts; analysts expect UAE petrol prices to rise again in November. Industrial Partnerships: Ras Al Khaimah’s ruler witnessed a cooperation agreement with Chinese robotics firm UBTECH, covering research, field testing and potential deployment of humanoid robots in the emirate.

Oil and Shipping: Murban crude rose nearly 4% to $114.40 a barrel as Gulf attacks heightened supply fears. Separately, an oil spill off Umm Al Quwain prompted a temporary closure of beaches and coastal areas while authorities assess the impact; the tanker has not been identified. Industrial AI: A UAE delegation visiting China explored how advanced AI could support factory scheduling, supply chains and public services while meeting local governance needs. Mobility and Manufacturing: Chery expects more than half its exports to be made overseas by year-end and plans to launch robotaxis in the UAE from 2027. Investment: The UAE plans a further $15 billion investment in Greece over five to eight years, targeting energy, technology, industry, infrastructure and other sectors; bilateral deals announced in Athens were valued at €12.7 billion. Waste and Energy: Tadweer has begun on-site work on an Abu Dhabi material recovery facility designed to process 400,000 tonnes annually.

UAE–Greece Investment: The UAE intends to invest an additional €15 billion in Greece. At a strategic forum in Athens, leaders also witnessed 18 agreements and partnerships worth €12.75 billion, spanning energy, technology, industry, logistics and transport. Circular Economy: Tadweer Group has begun construction of Abu Dhabi’s material recovery facility, designed to process 400,000 tonnes of municipal and commercial waste annually when it opens in 2028. Healthcare Innovation: Abu Dhabi’s Future Health Summit highlighted advances in gene therapy and cell treatments, while the Emirates Drug Establishment signed agreements with ADSCC and SEHA to strengthen regulation and local capabilities in advanced therapies. Food Security: Sharjah is distributing 25 tonnes of organic wheat seed to support about 600 farmers and boost local production. Energy and Industry: A UAE-led consortium signed a preliminary pact for the second phase of Ghana’s proposed $28 billion petroleum hub, including a refinery and petrochemical plants.

New Energy Vehicles: Chery’s LEPAS brand plans to enter the UAE and other Gulf markets in November, with its L8 plug-in hybrid launching in stages. Greece Investment: Abu Dhabi Crown Prince Sheikh Khaled’s Athens visit is expected to bring a three-year Mubadala–Hellenic Development Bank of Investments agreement, around 15 MoUs and plans for a Greek-Emirati venture pursuing up to $10 billion in regional construction projects. Digital Utilities: DEWA says it has reached 75% of its targets for 21 services in three months, including 16 powered by AI, and aims to complete them within the next three months. Circular Economy: ENOC and Dubai Municipality will explore collecting used cooking oil from homes and businesses for conversion into biodiesel at ENOC’s Jebel Ali plant. Food Manufacturing: Sharjah’s pavilion at SIAL Paris showcased local producers and investment opportunities, promoting the emirate’s food manufacturing base of more than 3,000 factories to international buyers.

UAE-Singapore Business: Sheikh Mohamed and Singapore Prime Minister Lawrence Wong discussed expanding cooperation in investment, AI, advanced technology and renewable energy, with water management also on the agenda. AI Infrastructure: Abu Dhabi’s Aleria and Hyperfusion are building a 10MW modular data centre designed for NVIDIA’s Vera Rubin platform, targeting service entry in early 2027. Energy Security: Gulf oil flows have climbed above prewar levels, with UAE and Saudi pipelines helping bypass Hormuz; France also secured a deal for 100,000 tonnes of diesel a month from the UAE. Defence Industry: Kuwait has begun construction of three missile-attack vessels under a project with UAE defence group EDGE, strengthening regional naval capabilities. Shipping Compliance: The US sanctioned UAE-based Whales Shipping Line and other shipping entities over alleged links to Iranian oil transport, raising compliance risks for maritime operators.

Capital & Trade: India’s Jio Platforms IPO was fully subscribed in under two hours; Abu Dhabi Investment Authority joined an $853 million allocation to major investors. India-UAE trade has also crossed $100 billion. Energy and Defence: During Macron’s UAE visit, the two countries advanced cooperation in energy, AI and technology and exchanged a strategic defence framework. The UAE and Bahrain pledged France an additional 200,000 tonnes of diesel a month. Energy Infrastructure: Sharjah National Oil Corporation and Equinor signed an MoU to explore downstream opportunities, while the 28th WETEX exhibition opened in Dubai. Pharma: Mubadala Bio and Eli Lilly will develop local medicine packaging and logistics capabilities in KEZAD, Abu Dhabi. Logistics: Iraq’s national shipping line has resumed regular Gulf container services after 50 years, with a shuttle linking Jebel Ali and Umm Qasr. Connectivity: e& UAE, Khalifa University and NYU Abu Dhabi unveiled a new engineering framework for 6G networks.

Nuclear Safety: IAEA experts praised the UAE’s emergency preparedness at Barakah after reviewing safety arrangements and lessons from a May drone strike near the plant. Energy Security: The UAE says it is shipping via Fujairah and Khorfakkan to reduce reliance on Hormuz; France has secured a pledge of about 100,000 tonnes of diesel a month from the UAE. Trade and Investment: UAE, US and Indian officials met in Mumbai to discuss regional energy security and shared economic priorities, while Abu Dhabi’s London forum advanced investment prospects in manufacturing, energy, logistics and technology. Future Networks: e& UAE, Khalifa University and NYU Abu Dhabi unveiled a peer-reviewed framework for designing future 6G networks. Water and Power: WETEX opened in Dubai, showcasing water security and desalination solutions; a new study also finds four-hour battery storage now cheaper than open-cycle gas in all 43 markets assessed. Industry Resilience: UAE-based energy services firm NESR says local staff and sourcing helped it maintain operations and grow despite regional disruption.

Industrial Partnerships: The UAE’s Ministry of Industry and Advanced Technology concluded its Shanghai visit, pursuing cooperation with China in robotics, automation and smart manufacturing. Investment: Fourteen global financial institutions managing more than $5 trillion plan to establish a presence in Abu Dhabi Global Market. Healthcare Innovation: AstraZeneca and Oracle will use AI and real-world data to support clinical trials; their first project, focused on hypertension, will be conducted in Abu Dhabi with UAE firm M42. Energy Finance: TAQA launched a two-tranche US dollar bond offering, including financing for eligible green projects; final pricing and the amount to be raised are not yet confirmed. Advanced Mobility: Schneider Electric supplied the power and digital systems for Dubai’s first commercial vertiport, designed to handle up to 170,000 passengers a year. UAE-France Ties: Leaders at a business dialogue in Abu Dhabi highlighted cooperation in energy, AI and advanced technology, as well as resilient supply chains.

UAE-France Cooperation: President Sheikh Mohamed and Emmanuel Macron agreed to advance joint projects in energy, advanced technology and AI, with maritime security and energy supplies also on the agenda. China Investment: Ras Al Khaimah pitched opportunities in advanced manufacturing, AI, renewable energy and logistics at a Shenzhen summit attended by nearly 300 officials and business leaders; more than 400 Chinese companies already operate in the emirate. Energy Efficiency: ENOC reports AED478 million in savings from resource-management initiatives since 2014, alongside a 21.7% improvement in energy efficiency. Dubai Growth: Dubai’s economy reached AED473 billion in the first half of 2026, while trade through its integrated economic zones rose 17% to AED246 billion. Financial Services: Fourteen global institutions managing more than $5 trillion in assets plan to establish a presence at ADGM. Clean Energy: The UAE generated 32.4% of its electricity from clean sources in 2025 and is on track to exceed its 35% target for 2031.

Industrial Innovation: Sparc Technologies and Levidian will develop graphene-enhanced protective coatings for GCC infrastructure, marine and industrial use, and assess local UAE production within two years. Investment: Dubai Investments plans to sell a 20% stake in DIP Holding, owner of the 23-million-square-metre Dubai Investments Park, in a proposed November listing. Trade: Dubai’s economic zones recorded AED246 billion in first-half trade, up 17% year on year. Economic Growth: Dubai’s first-half GDP reached AED473 billion, with finance, healthcare, communications and construction among the expanding sectors. Energy Partnerships: A UAE delegation’s China visit explored investment and technology cooperation in clean energy, hydrogen, storage, nuclear power and electric mobility.

Dubai Economy: GDP reached Dh473 billion in the first half of 2026, with financial, health and construction sectors among the growth drivers. Trade and Logistics: Dubai’s economic zones posted record first-half trade of Dh246 billion, up 17% year on year, while attacks on Gulf shipping threaten to raise costs and disrupt supply chains. Urban Development: Dubai Municipality completed more than 107 projects worth Dh1.6 billion this year. Abu Dhabi says its Mina Tunnel has cut travel times by 40% and is expected to add Dh1.66 billion to the emirate’s GDP over time. Global Finance: The UAE signed an agreement to host the 2029 IMF and World Bank annual meetings in Abu Dhabi.

Shipping and Energy: Iran’s Revolutionary Guard says two oil tankers caught fire after hitting mines in the Strait of Hormuz. The claims have not been independently verified, but fresh disruption in the key oil route raises risks for Gulf shipping and energy markets. Dubai Economy: GDP reached AED473 billion in the first half of 2026. Real output fell 2.3% year on year, while finance and insurance grew 8.8%, healthcare 14.3% and construction 2.4%. Business Events: Dubai World Trade Centre aims to lift annual economic output to AED54 billion by 2033, backed by a AED10 billion exhibition-centre expansion. Its events generated AED25 billion in 2025. Manufacturing: Dubai-based SWS Board Technology won the Dubai-it economy award for producing half of the world’s kiteboards and wakeboards, with capacity above 450,000 boards a year. AI Governance: Three in four UAE executives surveyed by IBM said an AI incident reached board or C-suite attention in the past year, as companies expand the use of autonomous AI agents. Space: Abu Dhabi’s Technology Innovation Institute is developing a UAE-made probe and electric propulsion technology for the Emirates Mission to the Asteroid Belt, planned for launch in 2028.