BETA This is a beta service - your feedback will help us improve it.

news

Dubai strengthens industrial ambitions

Scope of Dubai Industries and Exports widened to achieve targets

START READING

The scope of Dubai Industries and Exports, the agency of Dubai Economy mandated to develop industrial and export activity in the city, has been widened to enable it to play a pivotal role in transforming Dubai into a hub for future industries and attracting domestic and foreign investment into the industrial sector, in line with the goals of the Dubai Industrial Strategy 2030 and ‘Operation 300bn’.

Formerly known as ‘Dubai Exports,’ the agency has been supervising the implementation of the Dubai Industrial Strategy 2030, which has been instrumental in raising the manufacturing and export capabilities of the city. The scope of the agency has now been expanded in view of the increasing emphasis on industrialization in Dubai and the UAE and the need to coordinate with various authorities on policies, initiatives, and services for industrial development and export promotion.

The industrial sector in Dubai has become a driving force for economic diversification, productivity, and sustainable growth as well as the city's integration with global markets. The city's efforts to create a world-leading infrastructure and investment-friendly environment have seen it emerge as a regional hub for diverse industries, especially light to medium industrial units involved in manufacturing and exporting mechanical equipment, chemicals, food and beverages, machinery, and metals.

The Dubai Industrial Strategy 2030 aims to make Dubai a global base for knowledge-based, innovation-driven, and sustainable industries. The strategy comprises 67 initiatives that are expected to lay the foundation for future industry in Dubai and add AED 160 billion to the city's gross domestic product (GDP) through 2030.

A 10-year, comprehensive, national industrial strategy seeks to empower and expand the UAE’s industrial sector and increase its GDP contribution from the current AED 133 billion to AED 300 billion by 2031. Named ‘Operation 300bn’, the strategy envisions the industrial sector as the driving force of a sustainable national economy.

The new mandate of Dubai Industries and Exports is also aligned with the city's strategy to support national industries and promote non-oil trade by pursuing opportunities in overseas markets for diversifying exports. As demonstrated during the pandemic, Dubai, with the help of its competitive and connected environment, is committed to helping businesses successfully navigate challenges and crises. Dubai Industries and Exports will be instrumental in supporting investors and manufacturers globally to build on this opportunity in Dubai.

Dubai Industries and Exports will continue to facilitate industrial activity and exports and work collaboratively with all stakeholders to create a future-oriented regulatory framework for promoting an innovative and capable industry.

The ambitious industrialization targets set for Dubai and the UAE mean unprecedented opportunities for high-tech industries as well as small and medium enterprises (SMEs) to develop and enhance competencies in emerging disciplines, such as research and development, clean energy, healthcare, biotech, and space.

Dubai's industrial sector has shown remarkable stability in recent years and, according to Dubai Statistics Center data, the average GDP contribution of the sector in the 2015-2019 period (at constant prices) was 9.3%. Industrial exports from Dubai saw an average growth of 7% in this period. The total value of Dubai's industrial exports in 2020 was AED 167 billion, a growth of 8% from the previous year, according to Dubai Customs.

Dubai’s growing industrial capabilities are also underlined by its manufacturing sector, which was the fourth largest in terms of GDP contribution in 2019, after wholesale and retail trade, transport and storage, and financial and insurance services. The manufacturing sector was also the third-largest in 2019 in terms of manpower employment.

Dubai Industries and Exports will intensify coordination with partners and authorities locally and internationally to formulate services and initiatives that meet the needs of the industrial sector, especially in the post-COVID phase, in addition to launching the second phase of the Dubai Industrial Strategy 2030 in line with the focus of ‘Operation 300bn’ on advanced technologies, sustainable economic development, and the Fourth Industrial Revolution.

Also read:

Dubai Industrial Strategy 2030

Operation 300bn