Sultan Al Jaber: 57% increase in the industrial sector’s contribution to the country’s gross domestic product
ABU DHABI, 31st December / WAM / The UAE has continued to achieve qualitative achievements in the industrial and advanced technology sector, which has witnessed exceptional growth during the past four years under the umbrella of the National Strategy for Industry and Advanced Technology, “Project 300 Billion”, and has achieved qualitative achievements at the level of empowerment and motivation, investment attractiveness, Growth and competitiveness.
His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, stressed that the UAE, thanks to the vision and support of the leadership, has established a distinguished position for the industrial sector, as the “300 Billion Project” has achieved a qualitative leap in enhancing national content and industrial production to enhance the sustainability of supply chains and achieve self-sufficiency, in particular At the level of its strategic initiatives, such as the “Make in the UAE” initiative that supports sustainable growth, which is the first platform of its kind to attract investments and enable import substitution.
His Excellency said that the achievements of the industrial and advanced technology sector for the year 2024 reflect the Ministry’s firm commitment to promoting sustainable development, achieving national supply chains, and achieving self-sufficiency, as the industrial sector’s contribution to the gross domestic product increased by 57% and is expected to reach more than 210 billion dirhams. UAE industrial exports witnessed an increase of 63% and are expected to reach more than 190 billion dirhams, compared to 2020 at the time of the establishment of the Ministry of Industry and Advanced Technology.
He added that the “Make in the Emirates Forum” is an initiative that supports the growth of a sustainable economy and is the first platform for attracting investments and enabling import substitution. During the past three editions, 2,000 products for local manufacturing were presented, with a value of 143 billion dirhams, achieving a purchase value exceeding 7 billion dirhams, and attracting new industrial investments worth 20 billion dirhams, and the largest and most comprehensive edition of the forum is scheduled to be held on May 19-22, 2025 at the ADNEC Center in Abu Dhabi.
His Excellency stressed that the “National Content Program”, one of the 50 projects for the UAE and affiliated with the Ministry, has achieved significant growth in recycling spending in the national economy with a value reaching more than 300 billion dirhams, with an increase of 181% in the total spending of companies and entities that are members of the program, and has succeeded in achieving Providing 19,000 jobs for Emiratis in the private sector in companies that have obtained the National Content Program certificate, in addition to providing 2,500 jobs for Emiratis in advanced and service industries within just one year. Through the “Manufacturers” initiative of the same program.
His Excellency added that the Ministry of Industry and Advanced Technology has a pioneering vision in the field of advanced technology and the Fourth Industrial Revolution, and a qualitative transformation in the future of industry through the Industrial Technological Transformation Index, and through the “Technological Transformation Programme” and the Industrial Technological Transformation Index Initiative. More than 500 factories were evaluated across… index and qualified more than 50 local residents and 35 residents from 12 countries around the world. His Excellency pointed out that the industrial sector in the UAE provides a competitive and enabling industrial environment in which the UAE leads the region in industrial competitiveness and quality infrastructure, and witnesses the provision of many capabilities and incentives to investors, such as financing solutions that exceeded 19 billion dirhams, of which 3.2 billion dirhams are for advanced technology projects. And 28 thousand standards contribute to enhancing the competitiveness of national products and their ease of access to global markets.
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