10-11 September 2019
Intercontinental Festival City, Dubai
United Arab Emirates

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Future Manufacturing & Trade Summit 2019

UAE approves policy for advanced industry

Posted On December 24, 2019

It will be built around six guiding principles and raise profile of industrial sector

Abu Dhabi: The UAE Cabinet has approved the policy for advanced industries to spread the “Fourth Industrial Revolution” across sectors. The policy was approved by the Cabinet chaired by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

The policy is based on six main themes - Balanced development in various areas of the country; flexibility in plans and policies; integration between the seven emirates in industrial and logistical capabilities and services; commitment to improving the quality of life; leadership in innovation to raise efficiency and productivity and reduce cost; and increase dependence on industries with skilled labour.

The policy aims to stimulate the business sector to adopt and develop future-oriented industries, and enhance their capability to compete in global markets. There will also be a simultaneous shift towards sustainable industry and creating job opportunities for Emiratis.

The policy focus will be on technological development, digital manufacturing, and developing a knowledge–based economy with high value addition. On the labour front, the policy will integrate more Emiratis into the industrial workforce and reduce the gender gap within it.

The contribution of the industrial sector to GDP reached 8.9 per cent in 2018, while the exports attained by the sector accounted for 20 per cent. In 2017, the sector provided more than 460,000 jobs in the various emirates, making it the third largest in terms of employment.

 

Source: Gulf News Business

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10-11 September 2019

Intercontinental Festival City, Dubai
United Arab Emirates

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