UAE to create 25,000 jobs over next five years

UAE to create 25,000 jobs over next five years

As many as 25,000 jobs are being created to support priority industrial sectors over the next five years.

It comes as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced a Dh30 billion initiative to boost the national economy on Monday.

Launched to support Operation 300bn, the Emirates Development Bank strategy aims to leverage the bank's role as a key driver of the national economy to provide the largest support network for the industrial sector.

Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and Chairman of EDB, presented the bank's strategy pillars and objectives, under which more than 13,500 SMEs will be financed.

He noted that the launch of the strategy is in line with the Industrial Strategy 2021-2031 objectives.

“Operation 300bn is a comprehensive national programme aimed at enhancing the contribution of the industrial sector to the UAE's sustainable economic growth," he said.

The ministry and bank will collaborate closely to extend support to large corporations, SMEs and entrepreneurs across various industries including healthcare, infrastructure, food security and technology, he added.

Sustainable development

Al Jaber noted that EDB will act as a