Dr. Sultan bin Ahmed Al Jaber, made that statement during a session of the annual UAE Government meetings, attended by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court…reports Asian Lite News
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said that the future will be focused on achieving comprehensive Emirati industrial action, led by major national development sectors, to create an appropriate economic system and promote public-private partnerships that will boost the UAE’s stature as a global capital of future industries.
He made that statement during a session of the annual UAE Government meetings, attended by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court.
Al Jaber said that the UAE has succeeded in strengthening its stature as a destination for pioneering industries and developing the industrial sector, through the “Make it in the Emirates” initiative, as well as developing its digital infrastructure, promoting the use of technologies of the Fourth Industrial Revolution, and boosting the capacities and competitive advantages that double the contribution of the national industrial sector and advanced technology.
‘’The UAE Government is building a global economic base by developing local supply chains, manufacturing new products, and intensifying the efforts to support national industry and increase the competitiveness of national products.”
The participants at the session discussed the importance of developing national industry and increasing local content, by adopting ambitious policies and initiatives and implementing strategic industrial projects in priority sectors, to increase the contribution of the industrial sector to GDP.
They also discussed the main challenges facing the national industry and the opportunities for the sector from the launch of various incentives and programmes.
They also discussed the key achievements of the National In-Country Value (ICV) Programme, which was launched in 2018 and has increased demand for national products and expenditure on purchases and services in the local economy, valued at AED45 billion by end of 2022 and reaching AED65 billion by 2031. It also aims to increase the number of participating suppliers to 7,300 companies, meaning that the average national added value will total 60 percent.
The session was attended by senior government officials from federal and local authorities, including the Ministry of Industry and Advanced Technology, the Ministry of Finance, the Ministry of Energy and Infrastructure, the Ministry of Economy, and the Ministry of Human Resources and Emiratisation, as well as local authorities concerned with industry.