UAE Industrial Exports Surge by AED 70 Billion in 3 Years: Minister

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, underlined the significant growth in industrial exports, noting an increase of AED 70 billion over the past three years. He emphasized the Ministry’s relentless efforts in bolstering the national industrial sector and fostering a conducive business environment.

In an interview with the Emirates News Agency (WAM), Dr. Al Jaber emphasized the Ministry’s commitment to elevating in-country value and manufacturing capabilities, thereby fortifying supply chain security and economic competitiveness. He highlighted the success of import substitution projects, totaling AED 9.3 billion, as a testament to these efforts.

Reflecting on the evolution of the UAE’s industry and technology sector, Dr. Al Jaber outlined the establishment of the Ministry of Industry and Advanced Technology in 2020 as a pivotal moment. He underscored the launch of the National Strategy for Industry and Advanced Technology, Operation 300bn, aimed at fostering a robust industrial ecosystem supported by enablers, incentives, and financing solutions.

Dr. Al Jaber elaborated on the remarkable progress achieved since the Ministry’s inception, citing a 49 percent increase in the industry’s contribution to the UAE’s economy. He noted a surge in industrial exports by 60 percent and highlighted the country’s climb to the top regionally and 29th globally in UNIDO’s Competitive Industrial Performance Index.

The Minister attributed this growth to strategic initiatives aimed at enhancing the national industrial sector’s competitiveness. He particularly emphasized the National In-Country Value (ICV) Programme, redirecting over AED 237 billion into the national economy and generating employment opportunities for thousands of Emiratis.

Furthermore, Dr. Al Jaber emphasized the Ministry’s focus on promoting advanced technologies such as robotics, artificial intelligence, and blockchain, which have not only boosted industrial exports but also positioned the UAE as a leading hub for future industries.

Addressing challenges in technology adoption, Dr. Al Jaber stressed the importance of access to capital and enablers. He highlighted the Ministry’s initiatives in providing financing solutions and incentivizing the adoption of advanced technologies, paving the way for enhanced productivity and innovation in the industrial sector.

Looking ahead, Dr. Al Jaber expressed optimism about the forthcoming Make it in the Emirates Forum, highlighting its role in promoting industrial investments and opportunities. He emphasized the forum’s focus on sustainable practices and technological solutions to align with the UAE’s sustainability goals.

In conclusion, Dr. Al Jaber reaffirmed the UAE’s commitment to technological transformation across all sectors, outlining ongoing initiatives to bolster the industrial sector’s competitiveness and innovation capabilities.