UAE industrial exports increase by AED 70 billion over three years
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Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, stated that, since its creation, the Ministry of Industry and Advanced Technology (MoIAT) launched numerous initiatives and strategic programs to enhance the national industrial sector, as well as improve the business environment and industrial competitiveness.
Dr. Al Jaber highlighted MoIAT focus on increasing the internal value of the domestic industrial sector while improving the added value of manufacturing, in an effort to boost supply chain security and economic competitiveness in a way that supports domestic products.
“This has contributed to greater industrial security and national self-reliance, resulting in import substitution projects worth AED 9.3 billion.”
he UAE Minister of Industry and Advanced Technology explained.
He highlighted that the facilitators and incentives launched by the MoIAT were among the most important tools to support sustainable business growth and reduce financial barriers and risks for industrial companies, nothing that
“Funding not only supports innovation and technological transformation, but can also improve business growth and help create more high-tech employment opportunities in the private sector.”
Before the establishment of the Ministry of Industry and Advanced Technology (MoIAT) In 2020, the UAE’s industrial sector faced regulatory disparities that hampered growth. MoIAT initiatives, including the National Strategy for Industry and Advanced Technology, increased the sector’s contribution to GDP by 49%.
He National Country Value Program redirected more than AED 237 billion into the UAE economy, while initiatives in pharmaceuticals and medical supplies improved industrial security and self-reliance. The MoIAT also promoted advanced technologies, leading to an increase in high-tech exports and an improvement in global rankings. Financial support and incentives facilitated technology adoption and attracted investments, with AED 5.3 billion provided in financial solutions.
Dr. Al Jaber highlighted the transformative impact of Federal Decree-Law No. 25 of 2022, which strengthens the UAE’s industrial landscape with simplified regulations, supports self-reliance and fosters an enabling environment for SMEs and innovation.
He Do it in the Emirates Forum, a catalyst for industrial growth, showcased local manufacturing opportunities worth AED 120 billion, with significant uptake. By emphasizing post-COP28 sustainability, the forum aligns with of Sheikh Mohamed bin Zayed Al Nahyan Expanded Year of Sustainability. MoIAT The Technology Transformation Program drives innovation, with 153 roadmaps developed, attracting investments worth AED 600 million and creating 360 high-tech jobs. The incentives promote the adoption of AI and Industry 4.0, boosting national productivity and global competitiveness.
News source: Emirates News Agency
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