He stressed that the "300 billion project" is a qualitative transformation in the state's industrial sector
Al-Jaber: The wise leadership's forward-thinking vision charted the way for the future
Following the approval of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the Emirates Development Bank strategy, and after the launch of the National Strategy for Industry and Advanced Technology, the Minister of Industry and Advanced Technology, Dr. Sultan bin Ahmed Al Jaber, held a press briefing, in which he presented The most prominent aspects of the national strategy for industry and advanced technology launched under the slogan "Project 300 billion", and its pivotal importance in making the future of the UAE economy, in line with the pivotal role that the Emirates Development Bank will play as an engine and catalyst for the national economy.
Al-Jaber reviewed the role assigned to the strategy, which extends over 10 years, as a comprehensive national program that supports the UAE's continuous pursuit of sustainable economic development by doubling the contribution of the industrial sector to the gross domestic product from 133 billion dirhams today to 300 billion dirhams by 2031.
The "300 billion project" relies on the solid industrial foundation of the UAE and the country's unique advantages as a regional center for logistics, energy and manufacturing services, to enhance the country's competitiveness at the regional and global levels.
The briefing, which was organized by the UAE government media office, along with media leaders and a number of media professionals and journalists, was attended by the Minister of State for Advanced Technology, Sarah bint Yousef Al Amiri, the Undersecretary of the Ministry of Industry and Advanced Technology, Omar Ahmed Suwaina Al Suwaidi, and the CEO of the Dubai Future Foundation, a member of the Board of Directors of Bank Emirates Development, Khalfan Juma Belhoul.
Al-Jaber valued at the beginning of the session the forward-looking vision of the wise leadership represented by His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the State, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince The era of Abu Dhabi is the Deputy Supreme Commander of the Armed Forces, which is keen on developing the industrial and advanced technology sector due to its critical importance in the national economy and its pivotal role in sustainable development.
Dr. Sultan Al-Jaber stressed that the approval of His Highness Sheikh Mohammed bin Rashid Al Maktoum, today, of the Emirates Development Bank strategy constitutes a qualitative support for economic development at the state level, pointing to the great achievements made by the UAE and the solid industrial base on which it is based.
He also stressed the integration between the ministry and the bank as an enabler and facilitator for investment in the industrial sector to reach an advanced sector, pointing out that the launch of the Ministry of Industry and Advanced Technology strategy defined the goals of the national industry in accordance with the vision of the wise leadership for an industrial future based on knowledge and innovation and attracting direct strategic investment.
Al-Jaber pointed to the importance of coordination, unification of efforts and complementarity of roles between federal and local government agencies, and to benefit from modernizing the industry law, providing energy at competitive prices, and concessional financing, as well as supporting entrepreneurs through the Emirates Development Bank.
He stressed that the UAE has proven, especially during the pandemic, that it has everything that qualifies it to be a regional center for logistics services.
Of the reputation, credibility and reliability, and a flexible system of legislation that guarantees the rights of investors and protects their investments, in addition to a very advanced digital structure, and artificial intelligence solutions that the state was proactive in supporting its applications in the health and educational sectors and the energy sector, indicating that everyone views the state as an ideal destination for living, work and investment. .
Al-Jaber stressed the cooperation between the Emirates Development Bank and all parties to redouble efforts, take advantage of all capabilities, advantages, capabilities, and unlimited support from the wise leadership to achieve the ambitious goals of the sector.
He pointed to the great achievements made by the UAE and the solid manufacturing base on which the state relies, as the number of industrial companies operating in the country in 2018 reached more than 33 thousand companies, 94% of which were small and medium companies, while the number of workers in the industrial sector in the state reached 737. A thousand employees in the year 2018, and the country ranked 35th in the world in the Industrial Competitiveness Index.
Al-Jaber said: “Since the establishment of the Union, the industrial sector has been a major partner in economic development. It started based on the natural advantages that the state possesses, from a geographical location, natural resources, and then developed in parallel with the steady development of the business environment, legal frameworks and state infrastructures, so we saw the activity. "He is a major player in the energy, petrochemical, food, apparel, heavy and defense industries, and other active sectors."
He added that “(the 300 billion project) will represent a qualitative transformation in the state’s industrial sector. In addition to raising the industrial sector’s contribution to GDP to 300 billion dirhams, the project will increase productivity and create more job opportunities for citizens, and launch new sectors in the field of future industries.” Such as space technology, medical technology, sustainable products, and applications of the Fourth Industrial Revolution. "
Al-Jaber explained that the strategy notes the implementation of the national added value program at the state level to contribute to redirecting expenditures to the local economy and creating more opportunities for Emirati companies that will receive support at several levels, foremost of which is direct and indirect financial support through the Emirates Development Bank, in addition to On advisory, training, and enabling support, customs exemptions, and the potential for quality and competitiveness, locally and abroad.
On vital industries at the local and international levels, which will therefore be the main focus of the new strategy, Al-Jaber said: “We have identified 11 sectors that will be the focus of our attention, either because of their current importance in the UAE national industry system, or because of their strategic importance for the food and health security of the country, or because of their connection to future industries. We plan to expand it. "
He indicated that the sectors that will focus on are aerospace industries, medical industries, clean and renewable energy (hydrogen production), machinery and equipment, rubber, plastics, chemicals, minerals, advanced technology industries, electronic and electrical devices, pharmaceutical industries, food and beverages.
Technology is an obligatory path for the future
For her part, Sarah Al-Amiri said that advanced technology has played an important role in the social and economic development of the UAE over the past two decades, and its contribution has been major in establishing advanced projects such as Dubai Internet City and renewable energy in Masdar City, and the use of artificial intelligence in the vaccination program against "Covid." -19 "In addition to the success of the UAE project to explore Mars.
Al-Amiri added that attracting advanced technology and developing it in the country enhances the competitiveness, flexibility and growth of the country's economy, stressing that the UAE, with the vision of its leadership, has integrated the industry with the advanced technology file within the framework of the strategic future vision of the country's economy.
She drew attention to the importance of transforming research and development in the industrial sector into practical and commercially feasible applications, so that the country would be a global destination for the development of future industries that adopt technology, considering small and medium enterprises the backbone of the economy, stressing the importance of enabling them with advanced technology applications.
Al Amiri added, "One of the main objectives of the Ministry of Industry and Advanced Technology is to enable the UAE to be a global leader in future industries, with space being one of the most important focus sectors, in addition to the applications of the fourth industrial revolution, biological and medical technology, alternative energy, and information and communication technology."
Empowering youth
In turn, Al Suwaidi stressed the positive impact that the strategy will have on local Emirati talents, especially in terms of providing Emirati youth with the skills required for future industries.
He stressed that the UAE, with the vision of the wise leadership, has achieved qualitative results in the industrial sector and is continuing its ambition to provide the appropriate work environment, enablers and data, and adopt the techniques of the Fourth Industrial Revolution to enhance global competitiveness, enhance the ease of doing business, as well as develop the logistical and digital infrastructure, all of which to increase the contribution of the industrial sector to 300 billion dirhams in GDP by 2030.
Al Suwaidi pointed out that the successes achieved by the UAE in terms of educational outcomes and the significant increase in the number of graduates of scientific specializations are among the main pillars that allow the strategy to advance and succeed.
He concluded by stressing that the ultimate goal and the overall goal is to make the UAE a nucleus for advanced industry in the region and the world.
An engine for the economy
For his part, Belhoul said that the launch of the Emirates Development Bank strategy, which is integrated with the national strategy for industry and advanced technology, supports the strategic transformation of the UAE towards the future, so that the Emirates Development Bank is the catalyst and the first engine of the UAE economy.
He stressed that the Emirates Development Bank is a major enabler for the future of the industrial sector in the country, to accelerate industrial development, adopt advanced technology, and enhance the role of small and medium-sized companies, indicating the role of the Emirates Development Bank in providing various types of financing from regular financing to bold financing.
He also stressed that the success of companies, whether owned by citizens or residents, will result in the success of the national economy, and it creates work teams in the local market, which is what the bank works to provide its financing accordingly, under the guidance of the wise leadership.
Made in the UAE
In addition, the briefing speakers called on all partners in the process of developing the industrial sector in the country to participate in the "Make in the Emirates" campaign, which is an open invitation to investors, innovators and developers from within the country and from around the world to invest in the industrial sector in the UAE and benefit from the advantages, facilities and incentives. Located in the state.
The "300 billion project" is a national strategy
The "300 billion project", as a ten-year industrial strategy, seeks to double the contribution of the industrial sector to the GDP from 133 billion dirhams currently to 300 billion dirhams by 2031.
And because small and medium enterprises are among the most important mechanisms that support the strategic direction to support the productive economic system, and they represent more than 94% of the total number of operating companies, these companies provide job opportunities for more than 86% of the total workforce in the private sector, and contribute more than 60 In percent of the country's GDP.
Through the "300 billion project", the focus will be on promoting the existing industries, building on their gains, and enhancing their contributions to the GDP and in supporting the UAE's export system.
New industrial sectors will also be inaugurated, reflecting a vision that establishes an "avant-garde" future industrial thought, with a focus on technological industries and the fourth industrial revolution projects, within an approach based on stimulating innovation and adopting advanced technology to enhance industrial production as a whole and improve the performance of various economic sectors in the country, and strengthen the trend The state is towards adopting economic diversification and the knowledge economy, which works to build a strong, solid and fortified economy, with the industrial sector as its main pillar, along with other vital sectors such as food security, the energy sector, the financial and business sector, so that the UAE is a major industrial center in the region, topping the indicators Competitiveness, prosperity, stability and sustainable development regionally and globally.
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