They demanded temporary facilities, including exempting imported raw materials from customs ... and reducing the cost of bringing in labor

Men and Entrepreneurs: “Industry Strategy” supports the establishment of small companies and increases exports

  • "Made in the Emirates" stimulates competition between companies and raises the level of quality to a high degree.

    Archives

picture

Emirati men and business leaders confirmed that the National Strategy for Industry and Advanced Technology, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, will finally support the establishment of new small and medium industrial companies, especially those owned by citizens, as well as About opening new production lines in already existing companies, and increasing domestic exports.

They told «Emirates Today» that supporting the implementation of the slogan «Make in the UAE» stimulates competition between companies in the country and raises the level of quality to a high degree, calling for temporary facilities for the Emirati industrial companies, including exempting raw materials imported from customs, support for basic services to factories, and reducing costs. Bringing in employment.

New companies

In detail, the Emirati entrepreneur and CEO of "Tawafiq Metal Industries", Ghanem Khalifa Al Kaabi, said that the comprehensive national strategy for industry and advanced technology will contribute to establishing new small and medium-sized Emirati industrial companies, which leads to an increase in this type of companies that are the backbone of any Economie.

He added that the strategy will also contribute to achieving productive diversification by opening new production lines in already existing companies to meet the requirements stipulated in this ambitious strategy for the industrial sector in the country until 2030.

Transformative Industries

Al-Kaabi stressed that the new strategy supports the manufacturing industries in the country, and aims to open transport lines with new cities for the first time and strongly, which contributes to opening new markets for products, increasing Emirati exports and facilitating their shipment and transportation abroad.

He explained that the strategy is working to attract investors and their families, due to the sophistication and advanced infrastructure the UAE enjoys, as well as the progress in its regulations and legislation, as all of this supports sectors related to the industry such as aviation, tourism, hotels, restaurants, shopping, customs clearance and others.

international companies

For his part, the businessman and head of Al-Shumookh Oil Services Group, Dr. Ali Al-Ameri, said that the new industrial strategy will attract major international companies to work in the UAE, which benefits small and medium-sized companies, especially national ones, who will benefit from the new technologies and expertise provided by international companies. By entering into strong partnerships with local companies.

Al-Amiri added that large industries need hundreds of small and medium-sized companies that provide feeding and complementary industries to their industries, which allows small national companies to provide these feeding industries by establishing new companies or expanding existing companies, and this also contributes to introducing new industries for the first time to the country that were not Pre-existing.

Infrastructure

Al-Amiri stated that raising the percentage of the national industry’s contribution to the state’s GDP from 133 billion dirhams to 300 billion dirhams by 2031 includes support for industry infrastructure and support for water, electricity and gas supplies to factories, which contributes to the injection of new investments that support the economy as a whole and thousands of companies. Small and medium respectively.

He pointed out that supporting the implementation of the slogan "Make in the Emirates" stimulates competition between companies in the country and raises the quality level to a very high level in order for the product to fit in the name of the country known internationally for the quality of its products, in addition to that it supports the control and supervision of the quality of products and raw materials made from them. What the Emirati industry benefits from by supporting its presence on the global industry map, especially in the medium and long term.

An ambitious strategy

In turn, entrepreneur Jassim Al-Bastaki stressed that the new strategy is very ambitious and applicable within the timeframe specified for it.

He explained that this strategy is working to increase the number of small and medium-sized factories in general, especially those owned by Emirati citizens, in addition to increasing Emirati exports abroad and increasing local and foreign investments in the industrial sector, especially in the technological and advanced industries sectors.

He indicated that the new strategy will positively affect other sectors such as tourism, aviation, entertainment, real estate and restaurants.

Temporary facilities

Al-Bastaki added that the slogan "Make in the UAE" aims to attract more local and foreign investments to invest in the industrial sector in the country, which will support competition in the sector and support foreign exchange inflows into the country.

And he indicated that there are some things that help implement this strategy, which is to give temporary facilities to Emirati factories, such as exempting imported raw materials used in the industry from customs, in addition to supporting basic services for factories such as water, electricity and fuel, and reducing the cost of bringing in labor, indicating that all These benefits for manufacturers will be temporary for a period of two or three years at most, until the factory begins production, and then exemptions and subsidies will be gradually lifted over several years.

Electronic platform

The Emirati entrepreneur and CEO of "Tawafiq Metal Industries", Ghanem Khalifa Al Kaabi, called for the provision of a comprehensive electronic platform that contains information about factories, their activities, their locations, and the required administrative services electronically, in order to facilitate and shorten the way for investors, indicating that the platform contributes to defining various countries With Emirati companies and the most important products they manufacture, what supports export and import opportunities and develops and accelerates the UAE's trade with the world.

• The new strategy supports the manufacturing industries and aims to establish transportation lines with new cities.

Follow our latest local and sports news, and the latest political and economic developments via Google news