Hamdan bin Mohammed: Dubai supports national industries and promotes their exports in the global markets

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, affirmed that the industrial sector in Dubai is considered one of the key sectors in the approach to economic diversification, and that it is a prosperous sector capable of achieving more growth and expanding sources of income, as well as integration with global markets. With the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the emirate was able to develop the necessary infrastructure and create an attractive environment and a suitable climate for industrial investment across a range of sectors that serve both domestic consumption or export. Dubai today is a center for diversified industries, including light and medium, in the Gulf region, with a focus on mechanical equipment, chemicals, food and beverage products, metal products and machinery.

His Highness the Crown Prince of Dubai indicated that the Dubai Corporation for the Development of Industry and Exports, one of the Dubai economic institutions, will play a pivotal role in transforming the Emirate of Dubai into a center for future industry and attracting local and foreign investment to the industrial sector, in light of the powers approved by Law No. (3) of 2021. Issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, may God protect him, in his capacity as Ruler of the Emirate of Dubai, and in line with the goals set out in the Dubai Industrial Strategy 2030 and the "300 billion project".

The Dubai Industrial Strategy 2030 launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, aims to make Dubai a global platform for business and industries based on knowledge, innovation and sustainability.

The strategy has identified 67 initiatives that will have a positive impact on Dubai's economy, as it is expected to add 160 billion dirhams to the emirate's total output until 2030.

The efforts to develop the industrial sector in Dubai coincide with the objectives of the National Strategy for Industry and Advanced Technology "Project 300 billion" as a ten-year government strategy that seeks to advance the industrial sector in the country and enhance its contribution to the GDP from 133 billion dirhams to 300 billion dirhams by the year 2031, being the driving force of a national economy. Sustainable.

The Dubai Industry and Export Development Corporation, formerly known as the Dubai Export Development Corporation, supervised over the past years the implementation of the Dubai Industrial Strategy 2030 initiatives, which are mainly related to the manufacturing and export capabilities that the emirate gradually acquired.

The expansion of the scope of the Corporation's mandate to include the development of the industrial sector comes within the framework of the increasing focus on industrialization in Dubai and the UAE and the need to coordinate with the various relevant authorities regarding policies, initiatives and services for industrial development and export promotion.

The addition of the new jurisdiction of the Corporation comes within the framework of Dubai's strategy to support national industries and promote its non-oil exports in global markets by pursuing opportunities in foreign markets and diversifying exports, as the competitive environment in Dubai enables companies to overcome challenges, as was clearly demonstrated during the global outbreak For the Covid-19 pandemic, while the Dubai Corporation for Industry and Export Development will focus on supporting investors and manufacturers around the world to take advantage of these investment opportunities provided by Dubai in various sectors.

I aim ambitious

His Excellency Sami Al Qamzi, Director General of Dubai Economy, said: “We sincerely thank our wise leadership for their confidence in the Dubai economy to develop the industrial sector in the emirate. In order to create a future regulatory framework for an innovative and smart industry. "

Al Qamzi pointed out that the ambitious goals set for the industrial sector, whether in the Emirate of Dubai or at the level of the UAE, will provide unprecedented opportunities for high-tech industries, as well as small and medium enterprises to develop and enhance competencies in emerging disciplines, such as research and development, clean energy, health care, and biotechnology. And space, and the global outbreak of the Covid-19 pandemic and its impact on the global industry has demonstrated the competitive advantage that Dubai enjoys in linking trade and people, and the sustainability of business activities.

Global platform

Engineer Saed Al Awadhi, Executive Director of the Dubai Industry and Export Development Corporation, said: “The Foundation focuses on making Dubai a global platform for industries based on knowledge, innovation and sustainability, by promoting sector growth and industrial interdependence, integration with economic and strategic sectors, and providing a more attractive investment environment. It is competitive for the industrial sector, and we believe in the Corporation that the city has become a global platform for business as well as providing great opportunities for companies and industries. "

Al-Awadi explained that the industrial sector in the emirate has shown remarkable stability over the past few years, and according to data from the Dubai Statistics Center, where the average contribution of the sector's GDP during the period 2015-2019 (at constant prices) was 9.3%.

Industrial exports from Dubai witnessed an average growth of 7% during the period 2015-2019, and the total value of industrial exports from Dubai in 2020 reached about 167 billion dirhams, a growth rate of 8% compared to 2019, according to Dubai Customs data.

The growing industrial capabilities in Dubai were emphasized by the manufacturing sector, which ranked fourth in Dubai in terms of GDP contribution during 2019, after wholesale and retail trade, transportation and warehousing, and financial and insurance services.

The manufacturing sector also constituted the emirate's third largest employer of the workforce in 2019.

Al-Awadi added: “Dubai Corporation for the Development of Industry and Exports will work during the coming period to intensify efforts with local and international partners concerned with the industrial sector to create services and initiatives that serve the sector and its needs, especially in the recovery phase, in addition to launching the second phase of the Dubai Industrial Strategy 2030, in line with the directions of The state and the national strategy for industry and advanced technology "Project 300 billion", which depends on advanced technology, sustainable economic development and the solutions of the Fourth Industrial Revolution.

Six core sectors

Dubai Industrial Strategy identified 67 initiatives to achieve its goals, and focused on six basic industrial subsectors, namely: aviation, marine vessels, pharmaceutical and medical equipment, manufactured metals, food and beverage products, and machinery and equipment.

A report issued by the commercial registration and licensing sector in the Dubai economy stated that the entry movement of companies operating in the industrial sector amounted to 6,728 companies from 1963 to the first quarter of 2021, and the number of companies increased from 3,466 to 6,728 companies during the period from 2006 to the first quarter of 2021 with a growth rate of 94.1%.

The number of investors in the industrial sector reached 33,548.

As for the concentration of effective companies operating in the industrial sector, the share of the Al Quoz Industrial Zone 4, followed by the first Dubai Investment Park, then the first Jebel Ali area, as for the distribution of these companies according to the main areas in the Emirate of Dubai, the largest share in Bur Dubai was 72%. , Followed by Deira, at 27.1%, and even by 0.9%.

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