The Make it in the Emirates Forum, organized by the Ministry of Industry and Advanced Technology (MoIAT), recently concluded with government enterprises and private companies in the UAE committing an additional $6.26 billion to local manufacturing. One of the key announcements made during the forum was a $820 million commitment to buy locally produced medical equipment. This adds to the offtakes generated by the previous editions of the forum, bringing the total value to $38.93 billion for 2,000 products for local manufacturing.
The commitments made at the MIITE Forum are part of a series of multi-billion-dollar agreements and initiatives aimed at promoting economic self-sufficiency and attracting investment to the UAE. In total, 82 agreements were signed during the forum in support of Operation 300bn, a strategy to increase manufacturing value added to $81 billion by 2031. Industrial projects and investments worth more than $5.44 billion were announced during the event, including a $12 million investment to launch the UAE’s first microalgae producer.
The Ministry of Industry and Advanced Technology (MoIAT) also launched the AI Innovation Programme to help industrial companies integrate AI in their operations, with $100 million in financing from Emirates Development Bank (EDB). Additionally, EDB partnered with commercial banks to provide $272 million worth of co-lending to support industrial companies. Another initiative, Transform 4.0, was unveiled with the goal of creating 100 Industry 4.0 lighthouses over the next three-to-five years.
Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, highlighted the significant progress made by the UAE’s industrial sector during the Make it in the Emirates Forum. Since the establishment of the ministry three years ago, the industrial sector’s contribution to GDP has grown by 49% to Dh197 billion. The country has become a global hub for industrial investment and innovation, attracting major names and talents from around the world. The announcements made during the forum will enhance national resilience in key sectors such as energy, healthcare, and food, while also creating investment opportunities for companies looking to benefit from Operation 300bn.
The Make it in the Emirates Forum showcased the commitment of government enterprises and private companies in the UAE to support local manufacturing and promote economic self-sufficiency. With multi-billion-dollar investments and initiatives announced during the event, the country is on track to reach its goal of increasing manufacturing value added to $81 billion by 2031. The launch of the AI Innovation Programme and Transform 4.0 initiative further demonstrates the UAE’s dedication to integrating advanced technologies and fostering innovation in the industrial sector. Dr Sultan Ahmed Al Jaber’s remarks underscore the country’s emergence as a global industrial hub and the opportunities available for companies to tap into the new wave of value created by Operation 300bn.
