• | 1:00 pm

UAE boosts industrial investments momentum at the third Make it in the Emirates forum

The forum will focus on opportunities in the energy, telecoms, aerospace, and healthcare sectors

UAE boosts industrial investments momentum at the third Make it in the Emirates forum
[Source photo: Krishna Prasad/Fast Company Middle East]

The UAE’s non-oil trade reached a record high of $952.93 billion in 2023, reflecting its initiatives to reduce its reliance on oil.

The Gulf state’s industrial sector has shown immense promise and growth, recording a 49% increase in its contribution to the GDP, reaching $53.6 billion since the creation of the ministry. Industrial productivity has also increased by 18% compared to 2020.

Now, at the third edition of the Make it in the Emirates forum, the UAE aims to boost the momentum of industrial investments. The forum, which kicked off today in Abu Dhabi, looks at strengthening the $32.7 billion worth of local procurement agreements forged via more than 100 deals signed at the last two events.

The event similarly focuses on investment potential across several industries, including energy, telecommunication, aerospace, health care, and food and beverage.

Topics include the growth of UAE’s Operation 300 billion initiative, which aims to raise the industrial sector’s contribution to the GDP from $36.2 billion to $81.6 billion by 2031. 

The forum will also discuss the use of artificial intelligence, the country’s plans for space exploration and missions, and boosting the youth’s role in the industry.

Hosted by the ministry and in cooperation with the Abu Dhabi Department of Economic Development, Make it in the Emirates has enabled $1.6 billion in financial solutions, 30 industrial projects, and about 5,000 job opportunities for Emiratis in the industrial sector, according to data from the Ministry of Industry and Advanced Technology.

More Top Stories: