Post by : Badri Ariffin

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, expressed that the UAE's strength is unwavering, even amidst global challenges. He praised the vision set forth by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and highlighted the unity displayed by Emirati society.

Delivering his remarks at the largest edition of the Make it in the Emirates forum, he announced an influx of AED 180 billion aimed at invigorating the industrial sector. This initiative intends to localize over 5,000 products spanning key industries such as food, healthcare, and the economy.

Dr. Al Jaber noted that recent challenges have been reshaped into opportunities, committing to the establishment of a robust industrial foundation. He emphasized the importance of resilience, economic sovereignty, and sustained industrial development as cornerstone elements of the nation’s future.

He also commended UAE Armed Forces and frontline workers for their steadfastness during difficult periods.

Industrial Sector Witnesses Robust Growth

The minister highlighted that the industrial portion of the UAE's economy has expanded significantly, now contributing AED 200 billion—an increase of 70% since 2021. Industrial exports have surged to AED 262 billion, with AED 92 billion coming from advanced industries.

He stated that these milestones affirm the effectiveness of the UAE's industrial strategy.

The National In-Country Value (ICV) Program has been instrumental in propelling local industries and investments, aiding in this progress.

Expanding Opportunities and Investments

The aspiring value of industrial procurement has risen from AED 168 billion to AED 180 billion, set for discharge over the coming decade.

The forum follows the Make it with ADNOC initiative, which announced over AED 200 billion in projects slated for the next two years. A fresh “Local+” initiative was also introduced to link contractors with 70 Emirati manufacturers.

Enhancing Economic Security in Global Trade

Dr. Al Jaber articulated that economic security should be cultivated domestically, rather than relying on imports. He pointed out that disruptions in global trade can reverberate worldwide.

Addressing concerns regarding the Strait of Hormuz, he affirmed the critical need for unimpeded navigation for global economic stability.

UAE's Shift in Energy Strategy

He elaborated on the UAE's strategic repositioning in the global energy landscape, which includes its withdrawal from OPEC and OPEC+. This move is viewed as a pivotal strategy to bolster national interests and fuel investment and growth.

The UAE will remain a responsible participant in global energy markets while gaining greater flexibility.

A Promising Future with AI in Industry

Dr. Al Jaber projected that artificial intelligence will be central to the future landscape of industrial operations in the UAE, acting as an “industrial brain” to enhance efficiency and decision-making processes.

UAE as a Nexus for Global Investment

He invited international investors and manufacturers to consider the UAE as a premier destination for investment, spotlighting its conducive business climate, state-of-the-art infrastructure, and global connectivity.

Moreover, he urged the private sector to prioritize local investments, underscoring its significance for enduring economic stability.

Vision for Future Economies

Dr. Al Jaber concluded by asserting that future economies will hinge on three foundational pillars: energy, technology, and industry. Nations that successfully integrate these elements stand poised to spearhead global growth.

He ended with a potent call to action:
“Join us in building. Partner with us in investing. Make it in the Emirates.”

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