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Dubai Industries & Exports to play a key role in making the emirate a hub for future industries, attracting foreign investment
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Under ‘Operation 300bn’, UAE industrial sector targets raising GDP contribution from $36 billion to $81.67 billion by 2031.
The industrial sector in Dubai has become a driving force for its economic diversification, productivity and sustainable growth as well as its integration with global markets, said Dubai crown prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.
The emirate’s efforts to create a world-leading infrastructure and investment-friendly environment have seen it emerging as a regional hub for diverse industries, said Al Maktoum who is also the chairman of the Executive Council of Dubai.
These diverse industries especially include medium industrial units involved in manufacturing and exporting mechanical equipment, chemicals, food and beverages, machinery and metals.
The Dubai Industrial Strategy 2030, launched by Sheikh Mohammed bin Rashid Al Maktoum, vice-president, prime minister and ruler of Dubai, aims to make Dubai a global base for knowledge-based, innovation-driven and sustainable industries.
The strategy comprises 67 initiatives that are expected to lay the foundation for future industry in Dubai and add AED160 billion ($43.5 billion) to the emirate’s gross domestic product (GDP) through to 2030.
Meanwhile, a 10-year, comprehensive national industrial strategy seeks to empower and expand the UAE’s industrial sector and increase its GDP contribution from the current AED133 billion ($36 billion) to AED300 billion (81.67 billion) by 2031.
Named ‘Operation 300bn’ the strategy envisions the industrial sector as the driving force of a sustainable national economy.
Sheikh Hamdan said Dubai Industries & Exports, the agency of Dubai Economy mandated to develop industrial and export activity in the emirate, will play a pivotal role in transforming Dubai into a hub for future industries and attracting domestic and foreign investment into the industrial sector, in line with the goals of the Dubai Industrial Strategy 2030 and ‘Operation 300bn.’
Formerly known as ‘Dubai Exports,’ the agency has been supervising the implementation of the Dubai Industrial Strategy 2030, which has been instrumental in raising the manufacturing and export capabilities of the emirate. The scope of the agency has now been expanded in view of the increasing emphasis on industrialization in Dubai and the UAE and the need to coordinate with various authorities on policies, initiatives and services for industrial development and export promotion.
