The UAE is launching a series of initiatives including setting up new industrial units to increase industrial exports and boost the sector’s contribution to the national economy, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, has said.
With the initiatives launched last year, the UAE has already managed to increase the industrial sector’s contribution to national gross domestic product to Dh182 billion ($50 billion), a 38 per cent increase from Dh132 billion in 2020, Dr Al Jaber said in his key note speech at the second Make it in the Emirates forum in Abu Dhabi.
The value of the UAE’s industrial exports rose to Dh175 billion last year, a 49 per cent increase from 2020 on the back of the National Strategy for Industry and Advanced Technology launched by the ministry, he said.
This year, the UAE plans to “increase the value of purchase agreements for local manufacturers and industrial investments by more than Dh10 billion, taking the total value of products targeted for localisation to Dh120 billion”, Dr Al Jaber told delegates on Wednesday.
Last year, national companies including Adnoc announced investment of Dh110 billion over the next decade to purchase 300 products from local manufacturers.
“I am pleased to share with you that in the first year alone, 28 per cent of these offtake agreements have been implemented, representing a total value of Dh31 billion,” Dr Al Jaber said. “This is an outstanding achievement.”
The Arab world’s second-largest economy also plans to launch more than 30 “innovative industrial projects” valued at about Dh6 billion.
“These projects include pioneering initiatives such as setting up the first hydrogen electrolyser plant in the UAE,” he said.
The UAE launched its broader industrial strategy, Operation 300bn, in 2021, which aims to position the country as an industrial centre by 2031. The 10-year strategy focuses on increasing industry’s contribution to GDP to Dh300 billion by 2031, from Dh133 billion in 2021.
The strategy focuses on boosting production in 11 priority areas, supporting the growth of national industry, attracting foreign investment, modernising legislation and ensuring availability of dedicated financing for industrial companies.
The Ministry of Industry and Advanced Technology, which was created in 2020 to increase the competitiveness of products made in the UAE, is leading Operation 300bn.
The Make it in the Emirates campaign encourages local and international investors to manufacture and export products from the UAE.
The UAE has also been expanding its In Country Value (ICV) programme that aims to boost private-sector participation in the economy, diversify output and localise critical parts of the supply chain.
State energy company Adnoc is allocating more than Dh20 billion for the purchase of structures and metal products “exclusively from national factories, an initiative that will provide more opportunities to manufacture of products such as cables and pipes”, Dr Al Jaber said.
Last year, the ICV programme redirected Dh53 billion into the national economy, a 25 per cent rise from a year earlier.
The UAE, which is hosting Cop28 this year, is also adopting “a new standard” within the national ICV programme called “Green ICV, to encourage sustainability practices and motivate companies to reduce emissions”, said Dr Al Jaber, who is also Cop28 President-designate.
The industrial sector in the UAE has grown rapidly over the last few years, despite a global economic slowdown. The government is also accelerating the adoption of Fourth Industrial Revolution technologies in the sector under the UAE Industry 4.0 programme.
In 2022, the ministry supported a further 175 factories in developing a road map for their technological transformations, bringing the total number to 275.
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 has also taken several steps to improve the ease of doing business and ensuring the industrial sector's access to financing.
This year, First Abu Dhabi Bank, the biggest lender in the UAE by assets, will allocate competitive financing solutions for industrial sector companies. Mashreq is also joining the financing initiative with a Dh1 billion funding commitment to the industrial sector, Dr Al Jaber said.
This financing is on top of the funding being provided by Emirates Development Bank, which last year completed financing deals worth Dh3 billion to support and enable the Make it in the Emirates initiative.
The ministry also aims to provide “5,000 sustainable job opportunities for UAE nationals in the industrial sector through the Industrialist Programme”, with the support of Nafis and the Ministry of Human Resources and Emiratisation, he added.
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UAE currency: the story behind the money in your pockets
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Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
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The specs: 2018 Harley-Davidson Fat Boy
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Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
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if you go
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Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
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Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
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Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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MATCH INFO
Wales 1 (Bale 45 3')
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Juliet, Naked
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Starring: Chris O'Dowd, Rose Byrne, Ethan Hawke
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Killing of Qassem Suleimani
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Job: Coder, website designer and chief executive, Trinet solutions
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Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
Gothia Cup 2025
4,872 matches
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116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
