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UAE unveils 10-year plan to more than double size of industrial sector

BY Staff Writer

23 Mar 2021

News

Salaam Gateway

The United Arab Emirates on Monday (March 22) unveiled a new strategy to expand the contribution of its industrial sector from 133 billion dirhams to 300 billion dirhams ($81.7 bln) by 2031.

The Ministry of Industry and Advanced Technology will lead the national strategy with programmes to support 13,500 industrial small and medium enterprises.

The strategy focuses on linking industrial development to advanced technologies and economic trends, state news agency WAM reported citing the Minister of Economy Abdulla bin Touq Al Marri.

The strategy includes increasing government expenditure on research and development in the industrial sector from 21 billion dirhams to 57 billion dirhams, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said in a tweet.

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— HH Sheikh Mohammed (@HHShkMohd) March 22, 2021

The government also revealed the “Make it in the Emirates” campaign to support locally-manufactured products.

WAM reported the economy minister as saying that manufacturing alone grew at a CAGR of 4% to 135 billion dirhams in 2019.

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Government