As the United Arab Emirates embarks on a national programme to boost local production and create world-beating light and heavy industries, it will increase manufacturing’s contribution to the country’s economic output to Dh300 billion over the next decade.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, announced the launch of “Operation 300bn” on Monday.
“The UAE’s Industrial Strategy brings together the private and public sectors to re-imagine the future of industries. It is a determination to build our nation’s knowledge and expertise and forge our path towards long-term sustainable growth that benefits people and planet,” said Sheikh Mohamed bin Zayed.
‘Make It In The Emirates’ is the UAE’s “industrial identity to support domestic products and promote the sector globally, aiming to strengthen the country’s industrial competitiveness,” Sheikh Mohammed bin Rashid said.
The Operation Dh300bn and Make it in the Emirates initiatives are part of a shake up of the industrial ecosystem that is expected to include updating legislation and the reduction of red tape.