For the next 50 years, the aim will be to continue driving economic development and unleashing opportunity, particularly through promoting small and medium-sized businesses and instilling an entrepreneurial culture across the country.

His Excellency Dr. Sultan bin Ahmed Al Jaber, the UAE’s Minister of Industry and Advanced Technology, said: “UNIDO’s report reaffirms the UAE’s global reputation for developing an innovative industrial ecosystem underpinned by advanced technologies and Fourth Industrial Revolution solutions. Our rapid advances as a global industrial pioneer is a great testament to the foundations laid by our leadership.”

The agreement between two entities aim to provide products and facilities to support key industrial sectors with a focus on the priority areas of Operation 300bn – MoIAT’s National Strategy for Industry and Advanced Technology. They will also form a permanent taskforce to implement initiatives that contribute to driving the growth of the industrial and advanced technology sectors in the UAE.

Standard Carpets’ new factory will be one of the world’s largest all-under-one-roof carpet factories. It will harness the latest advances in carpet-making equipment and technology with in-house yarn extrusion, twisting-cabling and heat-set facilities. It will generate enough renewable energy with a massive solar rooftop, divert waste away from landfill and minimal water usage with sustainable management solution.

The report makes it clear that partnership between business leaders, public sector leaders and NGOs can take effective action to address this issue and significantly impact. Every player in these sectors, no matter how big or small, can make a difference. Encourages stakeholders to read the report and more importantly join the Giga initiative to help realize this important goal.