Companies in the UAE can now increase their In-Country Value score by up to 5 per cent by participating in the recently launched Industrial Technology Transformation Index, which allows them to exhibit their level of technology adoption and sustainability.
The index, launched at last month’s World Government Summit in Dubai, is a comprehensive framework to measure the digital maturity and sustainability of factories, the Ministry of Industry and Advanced Technology said.
The ministry announced the update on Monday to encourage manufacturing companies in the UAE to adopt advanced technology and Fourth Industrial Revolution (4IR) solutions.
The 5 per cent bonus is added on top of a company's overall ICV score, it said. Half of the total ICV score is determined by manufacturing costs while investment contributes a quarter.
Emiratisation accounts for 15 per cent and expatriate contribution accounts for 10 per cent.
Entities can also be awarded a separate ICV bonus, which can increase their overall score by 5 per cent, the ministry said.
The initiative will “supercharge” industrial sustainability and the adoption of Fourth Industrial Revolution, Sarah Al Amiri, Minister of State for Public Education and Advanced Technology, said.
“By incorporating the index into the National ICV formula, we are incentivising companies in the UAE to assess their capabilities, adopt 4IR solutions, and integrate sustainability best practices,” said Ms Al Amiri.
“This will ultimately help to enhance productivity, increase sustainability, boost competitiveness and raise efficiency in line with national efforts to transform industry and achieve net-zero carbon emissions by 2050.”
The ICV programme aims to boost the private sector’s participation in the economy, diversify output and localise critical parts of the supply chain.
The programme redirected Dh53 billion ($14.43 billion) into the national economy in 2022, which was a 25 per cent increase from the previous year.
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 gross domestic product to Dh300 billion by 2031, from Dh133 billion in 2021.
The Make It In The Emirates campaign encourages local and international investors to manufacture and export products from the UAE.
“It is a particularly pertinent time to update the National ICV formula as the UAE gets ready to host Cop28 this November,” said Ms Al Amiri.
“We are keen on demonstrating to the international community that we are pioneering sustainable industrial development through technological transformation, innovation and supply chain localisation.”
Read more about the coronavirus
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
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
MATCH INFO
Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
MATCH INFO
Southampton 0
Manchester City 1 (Sterling 16')
Man of the match: Kevin de Bruyne (Manchester City)
AGL AWARDS
Golden Ball - best Emirati player: Khalfan Mubarak (Al Jazira)
Golden Ball - best foreign player: Igor Coronado (Sharjah)
Golden Glove - best goalkeeper: Adel Al Hosani (Sharjah)
Best Coach - the leader: Abdulaziz Al Anbari (Sharjah)
Fans' Player of the Year: Driss Fetouhi (Dibba)
Golden Boy - best young player: Ali Saleh (Al Wasl)
Best Fans of the Year: Sharjah
Goal of the Year: Michael Ortega (Baniyas)
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'Operation Mincemeat'
Director: John Madden
Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton
Rating: 4/5
TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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Fixtures (6pm UAE unless stated)
Saturday Bournemouth v Leicester City, Chelsea v Manchester City (8.30pm), Huddersfield v Tottenham Hotspur (3.30pm), Manchester United v Crystal Palace, Stoke City v Southampton, West Bromwich Albion v Watford, West Ham United v Swansea City
Sunday Arsenal v Brighton (3pm), Everton v Burnley (5.15pm), Newcastle United v Liverpool (6.30pm)
Teams in the EHL
White Bears, Al Ain Theebs, Dubai Mighty Camels, Abu Dhabi Storms, Abu Dhabi Scorpions and Vipers
