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The 300 billion plan ... started yesterday
Sami Al Riyami
reyami@emaratalyoum.comsamialreyami
April 06, 2021
The industrial sector in the country has achieved remarkable growth over the past years, and it was a major reason for the development of the national economy, and the UAE’s access to the second largest Arab economy and one of the most important economies in the world. For example, the value of industrial exports during the past years reached 240 billion dirhams, while The number of industrial companies operating in the country has reached 33,000, and the total spending on research and development is approximately 1.3% of the GDP.
However, despite this growth, the ambitions of the UAE and its leaders are much more than that, so the country entered, as of yesterday, a new industrial phase ... a phase commensurate with the fourth industrial revolution, and commensurate with the size of the UAE and its current potential, vision and future ambition, this stage It began with the adoption of the National Strategy for Industry and Advanced Technology, or the 300 billion plan, and the adoption of the Emirates Development Bank strategy, which is one of the most important tributaries and levers of the national economy in the next phase.
The UAE enjoys very high competitive advantages and potentials, which made it an easy center for doing business and attracting investment, with raw materials, energy, infrastructure and logistics, and it occupies a unique and distinctive position in the heart of the world, so it is very natural that our economic ambitions are very high. To aspire to be a global hub for trade flow and logistics services, especially that the UAE ranks 29th in the world in the e-government services maturity index, and has an integrated infrastructure for communications and information technology, and is ranked 16th globally in the ease of doing business index, and it is a reliable provider For raw materials, gas and chemicals are available, and at a competitive cost, it is the sixth largest oil reserve and the seventh largest gas reserves in the world.
The industrial added value is currently amounting to 133 billion dirhams, and the new strategy aims to reach 300 billion dirhams by 2031, by creating an appropriate and attractive business environment for local and international investors in the industrial sector, supporting the growth of national industries, enhancing their competitiveness, stimulating innovation, and adopting technology. Advanced in industrial systems and solutions, and this is not impossible for a country like the Emirates.
The new industrial plan is to complete and build on the current competitive advantages, and work to multiply them, by focusing on the chemical and heavy industries, such as iron and aluminum, defense industries, electrical and equipment industries, and all of this will be through an approach based on advanced technology, focusing on them. It is the keyword for success and excellence in the future.
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