Hamdan bin Mohammed: Dubai Supports Nation’s Industry and Global Trade
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai, stated that Dubai's industrial sector is a driving force for economic diversification and Dubai’s integration with global markets.
The emirate’s efforts to create a world-leading infrastructure have seen it emerging 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, His Highness said.
The Dubai Industrial Strategy 2030, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, 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.
Meanwhile, 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 AED133 billion to AED300 billion by 2031.
Named ‘Operation 300bn’ the strategy envisions the industrial sector as the driving force of a sustainable national economy.
HH Sheikh Hamdan said Dubai Industries & Exports, the agency of Dubai Economy mandated to develop industrial and export activity in the emirate, will play a pivotal role in transforming Dubai into a hub for future industries and attracting domestic and foreign investment.
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 emirate.
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 & retail trade, transport & storage, and financial & insurance services.
The manufacturing sector was also the third largest sector in 2019 in terms of manpower employment in the emirate.
The most prominent industrial activities in Dubai include manufacture of metal structures for buildings, blacksmith and welding workshops and furniture manufacturing.
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