Home Industry MOFAIC, MoIAT to enable authentication procedures for UAE factories The procedures will enable digital services, simplify business procedures, and reduce costs for investors and owners of industrial businesses in the UAE. by Gulf Business April 15, 2022 In line with its strategy to promote the UAE’s investment environment to investors and upgrade services provided to customers in the industrial sector, the Ministry of Foreign Affairs and International Cooperation (MOFAIC) and the Ministry of Industry and Advanced Technology (MoIAT) have announced they will cooperate to offer supportive digital services, simplify business procedures, lessen costs for investors and owners of industrial businesses, and boost the investment climate. This collaboration is in line with the goals of the ‘Projects of 50’ to build the best and most active economy in the world. Under this new partnership, MOFAIC will support the provision of authentication services to factories through the digital services platform of the MoIAT. Authentication fees for industrial investors will also be reviewed. Faisal Issa Lutfi, Assistant Undersecretary for Consular Affairs at MOFAIC stressed that the ministry is keen on integration and cooperation with various government agencies to improve performance and level of services provided. MOFAIC, he said, is working to improve customer experience and facilitate business through a package of upgrades that include digital transformation in line with the directions of the UAE government. He added that the next phase will witness ease of digital authentication services for customers in general. This will achieve a strategic benefit to the UAE economy by improving the facilities offered to entrepreneurs in particular. Also, the digital transformation of services will enhance the competitive environment to attract business owners, investors and talents from around the world. Lutfi added that cooperation with MoIAT is in line with the strategic direction of the country, as it boosts the UAE’s high ranking in business facilitation indicators, enhances the nation’s competitive environment, and creates opportunities to access global markets. Dr. Osama Amir Fadhel, Assistant Undersecretary for Industrial Accelerators at MoIAT, stressed this new era of cooperation supports the directives of the ministry’s leadership to enhance the business environment for local and international investors in the industrial sector, and will contribute to accelerating the authentication procedures in line with the new industrial services platform launched by the ministry to support the performance of the industrial sector. Fadhel added that the total number of customs exemption transactions and invoices and certificates of origin from factories that required authentication totalled 175,000 in the past year. He also said simplifying procedures and facilitating invoice authentication services for manufacturers improves ease of doing business and enhances the investment climate in the country. This, in turn, will support the National Strategy for Industry and Advanced Technology. Bilateral cooperation includes the sharing of information on the customs exemption service on imported goods for manufacturers, updates on the flow and continuity of the electronic authentication mechanism, and the provision of training, support and assistance to the main customers of the service. Customs exemptions are granted to encourage the establishment of new industrial projects, and includes the import of industrial products such as machinery, equipment, spare parts, raw and intermediate materials and semi-manufactured goods for production purposes. Tags Industry Ministry of Foreign Affairs and International Cooperation Ministry of Industry and Advanced Technology 0 Comments Share Tweet Share Share You might also like How the Easa Saleh Al Gurg Group is getting future ready UAE’s Ministry of Industry and Advanced Technology, Siemens partner to underpin digital transformation UAE’s Ministry of Industry and Advanced Technology launches Make it in the Emirates Lab Explainer: Has hybrid working taken off in the GCC?