Targeted by "industry and advanced technology" within 5 years

25 thousand new job opportunities with “financing solutions” in 5 sectors in the country

«Industry» presented the report to «NBK» in a plenary session.

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According to a report by the Ministry of Industry and Advanced Technology, the Emirates Development Bank is working to support the industrial sector in the country and stimulate the national economy through three axes, including: accelerating industrial development and adopting advanced technology through special financing programs, and enhancing the role of companies and institutions of all sizes in supporting the national economy by By providing financing solutions, practical services and advice, and stimulating entrepreneurship and innovation for start-ups and small and medium enterprises, as a main driver in the "300 billion project", through which the ministry aims to raise the industrial sector's contribution to the GDP from 133 billion dirhams currently to 300 billion dirhams. billion dirhams by 2031.

The report, which the ministry presented to members of the Federal National Council, during the council’s session held the day before yesterday, to discuss the topic of “the role of the Ministry of Industry and Advanced Technology in developing the national industry,” stated that the ministry’s strategy aims to empower the Emirati industrial sector by developing future industries and enhancing national value. Added to the industrial sector, in an effort to transform the UAE into a regional and global center for future industries, and support the local demand for UAE industries, through the promotion of UAE exports to global markets, leading to the creation of new and qualitative job opportunities in the industrial sector.

The report indicated that to achieve this pivotal role, the Emirates Development Bank allocated a financial portfolio of 30 billion dirhams, over five years, to support several industrial sectors, contribute to the financing and support of more than 13,500 small, medium and large companies, and create 25,000 jobs “falling under the Financing solutions” provided by the bank in five priority sectors that have great potential to drive economic growth, including “manufacturing (petrochemicals, plastics, heavy industries, machinery, electrical appliances and renewable energy equipment), infrastructure (energy, transportation, communications and digital infrastructure), technology (software and technology services). Information, storage devices, peripherals, renewable energy technology and educational technology), health care (pharmaceuticals, biotechnology, medical equipment and hospital services), and finally food security (agriculture, livestock, marine and water desalination).

The report pointed out that the ministry provided 1,000 job opportunities for national cadres during the past year, at rates that were studied with the Ministry of Human Resources and Emiratisation, explaining that these jobs came under the umbrella of projects of a national governmental character, and there are large and excellent numbers that will be announced when talking about the ministry’s indicators, and there Excellent optimism by manufacturers and various companies.

The report emphasized the extent of the ministry’s focus on the issue of Emiratisation and the dependence of national manufacturing on the citizen human cadre, and that competitiveness would increase through the citizen human cadre that manages these factories, noting that the file of Emiratisation and increasing the experience of citizens, especially those who enter the labor market, is a priority for the ministry through programs and initiatives. It aims to transfer expertise to students and companies, as well as through coordination with the Ministry of Education to determine priorities for the specializations needed by the industrial and advanced technology sector, in addition to cooperating with various programs that work to increase citizens' participation in the private sector.

national industries

The report of the Ministry of Industry and Advanced Technology confirmed that Emiratisation is within the competence of various institutions, and legislation is within the competence of the Ministry of Human Resources and Emiratisation, but the Ministry has a supporting role and focuses on Emiratisation, and aims to direct towards national industries through various packages stimulating companies, and coordination with the “Nafis” program. And the topic of entering into priority areas, as well as working on how to communicate the relevant specialized expertise in the industrial sector, in addition to empowering leaders from the technology-based industries.

employment

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