OPB steals limelight at Malaysia Offset Conference

The conference was organized by the Malaysian Ministry of Defense, in collaboration with the Defense Manufacturers Association of Great Britain (DMA).

Delivering a keynote address at the conference, Al Hajeri gave an overview of the UAE Offset Program, initially established in 1992. He also cited some of the most successful projects implemented under the program.

Other delegation members were Abdullah Ahmed Al Qubaisi and Aysha Aydarous, both Project Managers at the OVU.

"The conference represented an important platform for us to inform the international offset & countertrade community about the role Offset plays in the UAE's ongoing comprehensive development drive. We also had the opportunity to exchange views and to discuss issues related to the offset industry with key officials, defense contractors, and investors from over 30 countries," said Al Hajeri.

"Participation in that important gathering enabled us to understand better the current and future trends in the offset industry. It was also an opportunity to shed light on the robust economic growth in the UAE and the investor-friendly business environment offered here."

Participants were also briefed on the OPB's objectives, including diversifying the industrial base, enhancing technology transfer & training, and providing job opportunities to the UAE citizens.

The delegation members highlighted the most successful projects set up in the UAE under the Offset Program umbrella in the fields of financial services, aircraft & ship leasing, commercial aviation maintenance, agriculture & green houses, shipbuilding, training & business centers, medical waste management, fish farming, and real estate.

Other issues highlighted during the conference included UAE offset guidelines, offset transaction flow, and the requirements for direct and indirect offset.

"The conference participants were impressed with the tremendous progress achieved by the OPB and by its ability to adapt to the rapid changes in global economy and technology," added Al Hajeri.

High on the conference agenda were topics related to new concepts in procurement, outsourcing, e-business, supply chain, and non-defense offset.