In a recent event held in Abu Dhabi, the ‘Make it in the Emirates Forum’ announced more than Dh40 billion worth of incentives, investment opportunities, and initiatives to boost the UAE’s industrial ecosystem. Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, highlighted the significant growth in the industrial sector, with a 49% increase in contribution to the GDP to Dh197 billion by the end of 2023. This surge is attributed to the Operation 300bn initiative launched by the UAE, which has also led to a 60% increase in industrial exports to Dh187 billion and a 109% increase in in-country value investment to Dh67 billion. The collective efforts have resulted in the creation of 16,000 jobs for Emiratis.
The UAE’s industrial strategy is focused on enhancing the self-sufficiency of the economy and supply chains, and creating more investment opportunities to strengthen the country’s economic resilience. Dr Al Jaber emphasized the leadership’s commitment to developing the industrial ecosystem and enabling the industrial community. The UAE aims to achieve sustainable socio-economic impact across its economy through continued efforts and support from the leadership. The minister highlighted the importance of adopting and applying the latest technologies, particularly artificial intelligence (AI), in all industry sectors to drive innovation and efficiency.
As part of the ‘Make it in the Emirates’ initiative, Dr Al Jaber announced several incentives and opportunities, including Dh23 billion in guaranteed offtakes for local manufacturing of over 2,000 products, bringing the total value of captive procurement opportunities to Dh143 billion. Projects worth Dh20 billion were announced along with co-lending financial solutions worth Dh1 billion, comparative electricity tariffs in the northern Emirates, and the launch of an AI innovation program providing Dh370 million to targeted technology startups. Additionally, ADNOC and Pure Health have offered procurement opportunities worth Dh20 billion and Dh3 billion respectively.
AI has emerged as the backbone of next-generation industrial innovation in the UAE, with its ability to streamline production processes, reduce costs, and enhance efficiencies across industries. From predictive maintenance to optimized supply chains, AI is driving smarter, safer, and sustainable industrial operations. By leveraging AI technologies, industries in the UAE are transforming their operations and paving the way for future growth and success. The government’s focus on adopting and implementing AI solutions underscores its commitment to driving the industrial sector forward and staying at the forefront of technological innovation.
