Operation 300bn, the National In-Country Value (ICV) scheme and the first Make It In The Emirates campaign were among some of the major achievements of the UAE’s Ministry of Industry and Advanced Technology (MoIAT) last year, according to a new report.
The initiatives helped to develop the UAE's industrial sector, increase its contribution to gross domestic product, create an attractive business environment for local and foreign industrial investments, and stimulate innovation and the adoption of advanced technology, the ministry said in the report on Wednesday.
“The industrial sector’s enhanced efficiency and competitiveness have increased its investment attractiveness and support the growth of national GDP,” Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, said.
“According to the United Nations Industrial Development Organisation, the UAE’s industrial exports reached Dh174 billion [$47.4 billion]. The industrial sector is projected to have contributed over Dh180 billion.
“MoIAT issued 263 new industrial production licences in 2022, a 20 per cent increase over 2021, while the National In-Country Value programme succeeded in redirecting Dh53 billion into the economy, a 25 per cent increase.”
The UAE launched its industrial strategy, Operation 300bn, in 2021 to position the country as an industrial centre by 2031. The 10-year strategy focuses on increasing the industrial sector’s contribution to GDP to Dh300bn by 2031, from Dh133 billion in 2021.
The ministry is leading Operation 300bn. The ministry was created in 2020 to increase the competitiveness of products made in the UAE and the industrial sector's contribution to the economy.
The Make It In The Emirates campaign encourages local and international investors to manufacture and export products from the UAE.
The Arab world’s second-largest economy also launched the ICV programme that aims to boost the private sector’s participation in the economy, diversify output and localise critical parts of the supply chain.
In 2022, six new businesses joined the ICV programme, bringing the total number to 20, according to the ministry.
Highlighting international industrial partnerships, Dr Al Jaber stressed the ministry’s efforts to help Emirati products enter new markets by working with other ministries to secure reduced customs tariffs in tandem with comprehensive economic partnership agreements.
The ministry is also providing financial incentives through seven local and international financial institutions, and has reduced 14 service fees to cut the cost of doing business.
“The MoIAT is set to announce more initiatives, plans, incentives and enablers in the coming months as we look to achieve a quantum leap in the industrial sector in support of the UAE's vision for national development over the next 50 years,” Dr Al Jaber said.
At the first Make It In The Emirates forum last June, it was announced that more than 300 products can be manufactured locally by investing in excess of Dh110 billion as part of companies’ procurement requirements for the next decade across 11 growth sectors, according to the ministry.
So far, industrial companies have signed 19 letters of intent to invest Dh3.1 billion in products targeted for local manufacturing.
New financing solutions worth Dh3.14 billion from Emirates Development Bank and Dh1.3 billion from Etihad Credit Insurance to empower industrial companies were also introduced last year.
The ministry is accelerating the adoption of Fourth Industrial Revolution technologies in the industrial sector under the UAE Industry 4.0 programme.
In 2022, it supported 175 factories in developing a road map for their technological transformations, bringing the total number to 275 factories.
The ministry also unveiled the technology transformation programme last year to support the adoption of advanced technologies in the industrial sector.
It aims to unveil more than 1,000 technological projects by 2031, raise advanced technology exports to Dh15 billion and increase the GDP of advanced technology to Dh110 billion.
The ministry also signed an integrated industrial partnership with Egypt, Jordan and Bahrain. As part of the partnership, the first wave of industrial projects worth more than $1 billion was unveiled last year.
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Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
Scoreline
Ireland 16 (Tries: Stockdale Cons: Sexton Pens: Sexton 3)
New Zealand 9 (Pens: Barrett 2 Drop Goal: Barrett)
Abu Dhabi GP weekend schedule
Friday
First practice, 1pm
Second practice, 5pm
Saturday
Final practice, 2pm
Qualifying, 5pm
Sunday
Etihad Airways Abu Dhabi Grand Prix (55 laps), 5.10pm
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Abu Dhabi GP starting grid
1 Lewis Hamilton (Mercedes)
2 Valtteri Bottas (Mercedes)
3 Sebastian Vettel (Ferrari)
4 Kimi Raikkonen (Ferrari)
5 Daniel Ricciardo (Red Bull)
6 Max Verstappen (Red Bull)
7 Romain Grosjean (Haas)
8 Charles Leclerc (Sauber)
9 Esteban Ocon (Force India)
10 Nico Hulkenberg (Renault)
11 Carlos Sainz (Renault)
12 Marcus Ericsson (Sauber)
13 Kevin Magnussen (Haas)
14 Sergio Perez (Force India)
15 Fernando Alonso (McLaren)
16 Brendon Hartley (Toro Rosso)
17 Pierre Gasly (Toro Rosso)
18 Stoffe Vandoorne (McLaren)
19 Sergey Sirotkin (Williams)
20 Lance Stroll (Williams)
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Most sought after workplace benefits in the UAE
- Flexible work arrangements
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The specs: 2019 Cadillac XT4
Price, base: Dh145,000
Engine: 2.0-litre turbocharged in-line four-cylinder engine
Transmission: Nine-speed automatic
Power: 237hp @ 5,000rpm
Torque: 350Nm @ 1,500rpm
Fuel economy, combined: 8.7L / 100km
The currency conundrum
Russ Mould, investment director at online trading platform AJ Bell, says almost every major currency has challenges right now. “The US has a huge budget deficit, the euro faces political friction and poor growth, sterling is bogged down by Brexit, China’s renminbi is hit by debt fears while slowing Chinese growth is hurting commodity exporters like Australia and Canada.”
Most countries now actively want a weak currency to make their exports more competitive. “China seems happy to let the renminbi drift lower, the Swiss are still running quantitative easing at full tilt and central bankers everywhere are actively talking down their currencies or offering only limited support," says Mr Mould.
This is a race to the bottom, and everybody wants to be a winner.
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
Education reform in Abu Dhabi
The emirate’s public education system has been in a constant state of change since the New School Model was launched in 2010 by the Abu Dhabi Education Council. The NSM, which is also known as the Abu Dhabi School Model, transformed the public school curriculum by introducing bilingual education starting with students from grades one to five. Under this new curriculum, the children spend half the day learning in Arabic and half in English – being taught maths, science and English language by mostly Western educated, native English speakers. The NSM curriculum also moved away from rote learning and required teachers to develop a “child-centered learning environment” that promoted critical thinking and independent learning. The NSM expanded by one grade each year and by the 2017-2018 academic year, it will have reached the high school level. Major reforms to the high school curriculum were announced in 2015. The two-stream curriculum, which allowed pupils to elect to follow a science or humanities course of study, was eliminated. In its place was a singular curriculum in which stem -- science, technology, engineering and maths – accounted for at least 50 per cent of all subjects. In 2016, Adec announced additional changes, including the introduction of two levels of maths and physics – advanced or general – to pupils in Grade 10, and a new core subject, career guidance, for grades 10 to 12; and a digital technology and innovation course for Grade 9. Next year, the focus will be on launching a new moral education subject to teach pupils from grades 1 to 9 character and morality, civic studies, cultural studies and the individual and the community.
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Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
