Egypt has joined forces with the UAE’s Industrial Transition Accelerator to promote sustainable industrial initiatives, focusing on advancing green energy and reducing carbon emissions in the MENA region.
The Industrial Transition Accelerator (ITA) has announced a partnership with Egypt’s Industrial Modernization Center (IMC), which operates under the Ministry of Industry, aiming to enhance vital clean industrial initiatives in the area.
The agreement was formalized in a signing ceremony attended by notable figures, including His Excellency Dr. Sultan Al Jaber, the UAE’s Minister of Industry and Advanced Technology and ITA Co-Chair, along with His Excellency Lieutenant General Engineer Kamel Al-Wazir, Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, and His Excellency Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade. The agreement was signed by His Excellency Omar Suwaina Al Suwaidi, the UAE Undersecretary of the Ministry of Industry and Advanced Technology, representing the ITA, alongside Duaa Salima, the Executive Director of the IMC for Egypt.
The MENA region is poised to take on a leading role in sustainable industries, supported by a fast-growing industrial sector and plentiful human and natural resources. This new partnership with Egypt represents the start of a promising era, enabling us to enhance regional cooperation focused on industrial sustainability and carbon reduction. Furthermore, it allows us to leverage advanced technologies to create innovative solutions for sustainable goals while improving industrial competitiveness.
The ITA is essential for fostering a resilient industrial ecosystem that resonates with future global trends. It promotes the adoption of practices and technologies that minimize environmental impacts while enhancing productivity. The Ministry of Industry and Advanced Technology of the UAE is dedicated to fast-tracking innovative solutions for industrial decarbonization, ensuring the region is prepared for a sustainable industrial future.
– His Excellency Omar Suwaina Al Suwaidi, Undersecretary, Ministry of Industry and Advanced Technology, UAE
The ITA’s mission is to unite leaders from various sectors, including industry, finance, and government, to push forward the decarbonization agenda in key high-emission industries on regional and international fronts, focusing on aluminum, cement, chemicals, steel, aviation, and shipping. This partnership will serve to further expand and support essential green industrial projects across the MENA region, representing a significant advancement in reducing the industrial sector’s carbon footprint. Egypt’s involvement marks a notable achievement, making it the third nation to join the ITA’s MENA Programme, following the UAE and Bahrain.
As a crucial industrial center in the MENA region, Egypt is instrumental in the global transition toward sustainable industry due to its strategic location and access to both conventional and renewable energy sources. The industrial sector significantly contributes to Egypt’s economy, and its national strategy aims to boost GDP contribution from 14% to 20% by 2030 while increasing the green economy’s share to 5%. With the aid from the ITA’s MENA Programme, Egypt is well-positioned to serve as a key supplier of low-carbon commodities in the MENA region, addressing Europe’s needs.
Duaa Salima, Executive Director of the IMC, expressed enthusiasm for the Memorandum of Understanding (MoU) that strengthens the new partnership. This agreement is designed to facilitate cooperation in reducing emissions from high-impact industries and transportation, which are the focal points of the ITA’s initiatives, while also promoting the sharing of technical knowledge and expertise.
Ms. Salima highlighted that the MoU aims to offer comprehensive support for various carbon emissions reduction projects within the heavy-emission industries and transportation sectors, accelerating the process toward final investment decisions. She stressed the importance of government backing in enhancing collaboration, streamlining procedures, and ensuring alignment with national emissions reduction objectives.
In tandem with the UAE’s Ministry of Industry and Advanced Technology, the ITA will identify and expedite significant industrial projects, aiming to finalize investment decisions within the next two years to kick off operations ahead of 2030. These initiatives align with climate goals outlined in the Paris Agreement.
This agreement with Egypt is a continuation of the ITA’s expanding MENA Programme. With its robust energy infrastructure, increasing renewable energy capacity, and strong trade relations with the EU, Egypt is in an advantageous position to lead in providing low-carbon industrial products.
– Faustine Delasalle, Executive Director, ITA
The ITA has developed an effective country partnership model, collaborating with governments, project developers, and regional organizations to deliver targeted support aimed at advancing a portfolio of green industrial initiatives in high-emission sectors. In 2024, the ITA plans to launch support programs in collaboration with the Brazilian government, as well as with the governments of the UAE and Bahrain in the MENA region. To date, these programs have identified a pipeline of over 45 projects, representing investment potential exceeding USD 100 billion.
The ITA will provide tailored support to ensure successful project implementation, accelerating decarbonization efforts throughout the MENA region. This initiative will also collaborate closely with project developers to identify and address key challenges, promoting demand for green products through regulatory and policy coherence, developing low-emission value chains to support sustainable production, and establishing risk mitigation strategies to attract investment in regional industrial decarbonization projects.