According to the United Nations Industrial Development Organization (UNIDO), the UAE’s industrial exports reached 174 billion dirhams. This “underlines the ability of our national industries to compete on the global stage,” according to Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology (MoIAT). The industrial sector is projected to have contributed over 180 billion dirhams.
Read more: UAE’s industrial surge brings exports to historic highs
MoIAT’s report showcased the progress of the national strategy for industry and advanced technology, Operation 300bn, which was launched in 2021 and aims to transform the UAE into a global manufacturing hub. Through joining forces with local and federal entities under the umbrella of the Industry Development Council, the National Committee for the In-Country Value (ICV) Program, the Steering Committee for Standardization and Metrology, and the private sector, MoIAT has worked to enhance the UAE’s economic resilience, as well as empower national industries and enhance the competitiveness of their products.
Al Jaber added: “Launching several programs and strategies in 2022, MoIAT has made impressive achievements that support the UAE’s industrial growth. The industrial sector’s enhanced efficiency and competitiveness have increased its investment attractiveness and supported the growth of the national GDP.
“MoIAT issued 263 new industrial production licenses in 2022 – a 20% increase over 2021, while the national In-Country Value (ICV) program succeeded in redirecting 53 billion dirhams into the economy – a 25% increase.”
Al Jaber emphasized MoIAT’s efforts to help Emirati products enter new markets by working alongside other ministries to secure reduced customs tariffs in parallel with comprehensive economic partnership agreements (CEPAs). 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.
He added: “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.”
Transforming industry with technology
For her part, Sarah Al Amiri, UAE Minister of State for Public Education and Advanced Technology said: “MoIAT has helped to accelerate technology adoption in 2022, enhancing efficiency, competitiveness, and investment attractiveness in the industrial sector. MoIAT also facilitated financing for industrial companies to obtain advanced technology solutions with a total of 699 million dirhams.”
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