The UAE is set to bolster industrial investments at the third Make it in the Emirates forum, highlighting the sector's pivotal role in the nation's economic and diversification strategies.
Scheduled for May 27 and 28 in Abu Dhabi, the forum aims to build upon the success of past events, which resulted in Dh120 billion ($32.7 billion) worth of local procurement agreements through over 100 signed deals.
This year's forum will emphasize investment opportunities across key industries such as energy, telecommunications, aerospace, healthcare, and food and beverage.
Distinguished speakers include Dr Sultan Al Jaber, Minister of Industry and Advanced Technology; Sarah Al Amiri, Minister of State for Public Education and Advanced Technology; Badr Al Olama, Director General of the Abu Dhabi Investment Office; and Faisal Al Bannai, Secretary General of Abu Dhabi's Advanced Technology Research Council.
Topics to be discussed during the two-day event include the growth of the UAE's Operation 300bn industrial initiative, the integration of artificial intelligence in industries, the nation's space aspirations, and the empowerment of youth in the industry.
Hosted by the Ministry of Industry and Advanced Technology in collaboration with the Abu Dhabi Department of Economic Development, the forum will bring together executives from global corporations, government officials, representatives from the private sector, small and medium enterprises, and start-ups.
Previous editions of Make it in the Emirates have facilitated Dh6 billion in financial solutions, supported 30 industrial projects totaling over Dh6 billion, and generated approximately 5,000 job opportunities for Emiratis in the industrial sector.
Dr Sultan Al Jaber highlighted the UAE's attractiveness for industrial investments, citing factors such as credibility, transparent laws, governance, competitive financing, and a high quality of life within a diverse and safe society.
The UAE's economic diversification strategy, focused on growing industries and embracing advanced technology, has led to significant achievements. The country's GDP expanded by 3.6% to Dh1.68 trillion last year, driven by robust growth in the non-oil sector.
Industrial productivity has risen by 18% compared to 2020, and the UAE ranked first regionally and 29th globally in a UN agency's competitive industrial performance index last year.
Initiatives such as the National In-Country Value program have redirected over Dh237 billion into the national economy, with 16,000 Emiratis employed across ICV-certified companies.
Operation 300bn, launched in 2021, aims to elevate the industrial sector's contribution to GDP to Dh300 billion by 2031, supported by initiatives to facilitate financing and mitigate risks for industrial companies. Last year alone, Dh5.3 billion in financing solutions were provided for the industrial sector in collaboration with partners including Emirates Development Bank, First Abu Dhabi Bank, and Mashreq Bank.
Comments
Post a Comment