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UAE industrial sector grows by 57%, exceeding $56.7 billion contribution to GDP
The UAE's rigorous commitment to developing advanced technology has supercharged its sprawling industrial sector in 2024.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, announced that the industrial sector’s contribution to the UAE’s GDP has risen by 57%, with projections now exceeding $56.7 billion.
In his press statements, he further highlighted the strong growth in the UAE’s industrial exports, which have increased by 63%. These exports are expected to surpass $51.3 billion since the establishment of the Ministry of Industry and Advanced Technology in 2020.
He emphasized the importance of ‘Operation 300 bn,’ which aims to develop the UAE’s industrial sector and strengthen its role in stimulating the national economy. “It has been a game-changer in enhancing in-country value and industrial production, ensuring sustainable supply chains and self-sufficiency.”
Other key initiatives include the “Make it in the Emirates” campaign, an invitation to both local and international investors, innovators, and developers to join the UAE’s industrial growth journey. The campaign also serves to highlight the UAE’s appealing value proposition.
The minister also highlighted the critical role of the ‘Make it in the Emirates’ Forum in fostering sustainable economic growth. Across its first three editions, the Forum successfully identified over 2,000 products valued at $38.61 billion for local manufacturing. To date, $1.89 billion in purchases have been secured, and the Forum has attracted $5.4 billion in new industrial investments. The forthcoming edition, set to be the largest and most comprehensive yet, will take place from May 19 to 22, 2025, at ADNEC in Abu Dhabi.
The National In-Country Value (ICV) Programme, part of the UAE’s “Projects of the 50,” has significantly redirected expenditure into the national economy, reaching over $81 billion, with an 181% increase in spending by participating companies and entities. The program has also created 19,000 private-sector jobs for Emiratis, including 2,500 jobs in advanced and service industries within one year through the ‘Industrialist Programme.’
Dr. Al Jaber further highlighted the ministry’s leadership in advanced technology and the Fourth Industrial Revolution (4IR). The Industrial Technology Transformation Index (ITTI) has assessed over 500 factories and certified more than 50 local assessors and 35 international assessors from 12 countries.
He added that the UAE’s industrial sector provides a highly competitive and supportive environment, reinforcing its position as the regional leader in industrial competitiveness and quality infrastructure. Investors benefit from a comprehensive ecosystem of enablers and incentives, including access to over $5.13 billion in financing solutions, with $864 million allocated for cutting-edge technology projects. Additionally, the implementation of over 28,000 national standards further enhances the competitiveness of UAE products, facilitating their smooth entry into global markets.
The successes achieved by the industry and advanced technology sector in 2024 reflect the ministry’s commitment to sustainable development, strengthening national supply chains, and achieving self-reliance.
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