Under the government’s strategic initiatives, the industrial sector in the United Arab Emirates (UAE) is on a strong upward trajectory, leading to increased exports and job opportunities.

Sultan Ahmed Al-Jaber, Minister of Industry and Advanced Technology, emphasizes the notable increase in industrial exports over the past three years, pointing to a promising future for the UAE’s industrial sector.

A statement released by Al-Jaber through the Emirates News Agency disclosed a 60% increase in industrial exports, reaching a projected value of $50.9 billion in 2023. This substantial growth underscores the UAE’s continuous efforts to strengthen its industrial sector and improve its global competitiveness.

The Minister emphasized the government’s dedication to enhancing domestic production and supply chains. This strategy, aimed at fostering economic self-sufficiency and competitiveness, has resulted in an 18% increase in industrial productivity since 2020.

“In 2023, the UAE ranked first regionally and 29th globally in UNIDO’s (UN Industrial Development Organization) Competitive Industrial Performance Index, climbing seven spots since 2020,” Al Jaber added.

Al-Jaber attributed this progress, in part, to the Ministry’s initiatives, which have led to a 49% increase in the industrial sector’s contribution to the UAE’s GDP since its establishment in 2020. This translates to a projected increase from $35.9 billion to $53.6 billion, reflecting a 9% growth compared to 2022.

The Minister highlighted import substitution projects worth $2.5 billion as a tangible outcome of these efforts. This initiative aims to replace imported goods with domestically produced alternatives, strengthening national self-sufficiency.

Al-Jaber highlighted the National In-Country Value (ICV) Program as a key driver of industrial growth. This program redirects spending within the national economy, with over $64.5 billion previously spent outside the UAE now circulating domestically.

The ICV program aims to achieve several objectives, including economic diversification, foreign investment, job creation, economic growth, and technological advancement.

The program’s success is evident in the growth of ICV-certified companies, which have collectively employed over 16,000 Emirati citizens.

The UAE’s industrial sector is on a strong upward trajectory. Minister Al-Jaber’s statements underscore the government’s commitment to fostering a competitive and self-sufficient industrial base, positioning the UAE as a major player in the global market.

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