The Offset Program Bureau

The Offset Program Bureau (OPB) was established in 1992 to oversee the offset program in the UAE. It is mandated to set up joint ventures, as well as to invest in commercial, industrial, financial, and educational projects and to create investment funds in the UAE and abroad. OPB also acts as a conduit between international contractors and local pr... ivate sector for creation of commercially viable, profitable and sustainable joint ventures. In 2007, OPB created a fully-owned subsidiary; Tawazun Holding to contribute substantially in diversifying UAEs oil-dominated economy by focusing on the development and expansion of selected emerging companies across a wide range of industrial and commercial disciplines. Since its inception, Tawazun Holdings major subsidiaries are Caracal International - the first national arms manufacturer in the United Arab Emirates and Merkel, the German maker of hunting rifles and shotguns which has production lines in Germany, as well as a distribution network in all over Europe and North America. Other Tawazun subsidiaries include Burkan Munitions, Remaya, Emirates Precision Industries, Abu Dhabi Autonomous Systems Investments, Caracal Shooting Club, Al Ain Shooting Club. Tawazun adopts an aggressive and upbeat investment strategy which will certainly help in driving change within the marketplace and inspire emerging companies by providing the right ingredients for success.Read More