By Akanimo SampsonTop United Arab Emirate’s (UAE) CEOs are hailing the country’s 10-year strategy which aims to empower the industrial sector to become the driving force of the economyThey are welcoming the launch of Operation 300bn by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, which aims to expand the country’s industrial sector.
The 10-year comprehensive strategy aims to empower the sector to become the driving force of a sustainable national economy, increasing its contribution to the GDP from the current AED133 billion to AED300 billion by 2031.Chairman of Food & Beverage Manufacturing Group, Saleh Abdulla Lootah, said in comments published by state news agency WAM: “The new industrial strategy can be termed as UAE’s industrial revolution that aligns all stakeholders onto one road map, making it more effective for the overall economy.
“This strategy will accelerate progressive adoption of advanced technology in the industrial sector and ensure that our F&B industry is resilient and future proof – helping us achieve our national goals of food security and proudly placing the UAE F&B industry as a global food hub.”
The Ministry of Industry and Advanced Technology is leading the strategy and will roll out programmes and initiatives to support 13,500 industrial SMEs.
Sustainable development is among the strategy’s targets and it will focus mainly on industries that implement advanced technology and the Fourth Industrial Revolution (4IR) solutions and applications.
Dr Behjat AlYousuf, EVP of Outreach and Engagement, Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), said: “The MoIAT strategy is yet another commendable step taken by the UAE’s visionary leadership team to enhance our nation’s knowledge-based economy through the application of advanced technologies.
“The strategy addresses some of the world’s most pressing challenges throughout the value chain in industries like healthcare, infrastructure, and food security. It prioritises the development of local talent, setting aggressive targets, which requires strong collaboration and cohesive efforts from all federal and local entities,” he added.
The strategy aims to increase the in-country value through refining and supporting local products on a global level and building an attractive business environment for local and international investors to boost productivity.CEO of National Petroleum Construction Company, Ahmed Al Dhaheri, says “with clearly mandated goals for the short to long-term, the strategy sets a roadmap to accelerate our local manufacturing competencies, build self-reliance across all key sectors, boost exports of ‘Made in UAE’ products and technology and also supports job creation and SME value chain development. We will draw on the new strategy to accelerate our manufacturing capabilities by leveraging the possibilities of the Fourth Industrial Revolution.”
The plan provides for multiple facilities and incentives aimed at positioning the UAE as a global industrial hub that attracts talent, developers and experts from all over the world.
Faisal Al Bannai, the CEO and managing director, EDGE, also welcomed the strategy saying: “We will be able to upscale for a more sustainable industrial base, better leverage advanced technologies that are fit for the future, and leverage R&D spend and talent attraction for the most impactful outcomes. As we look ahead with confidence to the opportunities that advanced technology offers us, at EDGE we are excited by the role that the new ministry plays in bringing all critical sectors, together.”
Alan Smith, CEO of Agthia, the Abu Dhabi-based food and beverage company, said: “With its focus on advanced technologies, the MoIAT’s new strategy will be a great support to the F&B sector in the UAE as it will help increase local production and increase the sector’s contribution to the UAE’s GDP.
“Advanced technologies play a fundamental role in diversifying economic sectors in the UAE, and being a key focus of the MOIAT’s strategy, this will also contribute towards strengthening the global competitiveness of Emirati products and companies.”
Hazeem Sultan Al Suwaidi, CEO, Borouge, said: “By supporting local businesses and playing our part in producing polymers proudly made in UAE, and collaborating with our value chain partners, we enhance our contribution to the In-Country Value programme, reinforce making it in the Emirates and advance the petrochemicals industry’s development.”
Mohamed Jameel Al Ramahi, CEO of Masdar, added, ”the national strategy unveiled by the Ministry of Industry and Advanced Technology and the Emirates Development Bank sets out a clear roadmap to develop the advanced industries needed to diversify and future-proof the UAE’s economy. At Masdar, we look forward to working with the Ministry and the Bank in implementing this strategy, and ensuring that clean energy and sustainable technologies play an increased role in the UAE’s continued growth.”
Sami Al Qamzi, director-general, Dubai Economy, also hailed the strategy saying: “The UAE is taking a fundamental step towards developing the industrial sector and growing into a global hub for advanced industry.
“We in Dubai have worked to develop an integrated industrial ecosystem and promote future projects outside traditional frameworks to accelerate progress in the sectors emphasised in the Dubai Industrial Strategy, of which innovation and sustainability are the main pillars. We will continue to work with the Ministry of Industry and Advanced Technology to formulate programmes that support emerging trends in the UAE industrial sector.”
Yasir Jamal, VP Supply Chain, Unilever MENA, said: “The new strategy is an inspiring push-forward for the nation’s economic industrial progress. This new strategy marks a new era of renewed commitment to drive growth through powerful partnerships with all relevant parties.”
