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The UAE capital Abu Dhabi launched its industrial strategy on Thursday.
Through this strategy, the government will invest AED 10 billion (US$ 2.7 billion) in six transformational programs to increase Abu Dhabi’s manufacturing capacity by 2031 by increasing access to financing, improving the ease of doing business and attracting foreign direct investment. The size of the industry more than doubled to AED 172 billion.
According to information obtained, the strategy will also create 13,600 skilled jobs, focus on Emirati talent, and boost Abu Dhabi’s trade with international markets, with the goal of increasing Abu Dhabi’s non-oil exports by 143% to 1,788 by 2031 billion dirhams.
Several initiatives including a new circular economy regulatory framework and new green policies and incentives will help Abu Dhabi continue its transition to a smart circular economy, and smart manufacturing.
Mohammed Ali al-Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said: “Abu Dhabi’s Integrated Industrial Strategy Blueprint is an ambitious vision that will guide the future of manufacturing in the UAE, shaping a resilient and diverse the economy for decades to come.”
In line with the UAE’s industrial strategy, the roadmap will create an ideal environment for businesses to emerge and grow.
He affirmed that the strategy aims to achieve Abu Dhabi’s growing productivity goals, help secure future investor opportunities, protect its human capital and facilitate job creation, and enable it to pre-empt changing market conditions and changing trend.
Continued growth in manufacturing will stimulate growth, competitiveness and innovation through the integration of advanced Industry 4.0 technologies, while strengthening the sustainability of the entire ecosystem in line with the UAE’s Net Zero Emissions by 2050 and National Climate Change Strategy.
Initiatives in the strategy will also drive the emirate to become a global hub for future industries, focusing on seven targeted manufacturing industries, namely chemical, machinery, electricity, electrical equipment, transportation, agri-food and pharmaceuticals.
It includes six transformational programs that will drive growth and innovation, improve skills, strengthen the ecosystem of local manufacturers, simplify access to global markets, and drive the transition to a circular economy.
The circular economy initiative will drive sustainability across the industry by enabling responsible industrial production and consumption.
A robust circular economy regulatory framework for waste, recycling and consumption will be developed and implemented.
Industry 4.0 initiatives will accelerate business growth by stimulating competitiveness and innovation through the widespread adoption of new technologies and processes.
Meanwhile, ecosystem drivers include digital geographic information system (GIS) mapping for industrial land searches and unified inspection procedures for quality control.
Further improving the ease of doing business through a reimbursement incentive scheme for government fees is also a focus.
In addition, the Homegrown Supply Chain Initiative will enhance the resilience of the industrial sector by increasing self-sufficiency and promoting domestic products.
In order to promote local infrastructure construction and achieve end-to-end integration, a supply chain equity investment fund will be established.
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