Mohammed bin Rashid launches Operation 300bn to advance UAE industrial sector

Mohammed bin Rashid launches Operation 300bn to advance UAE industrial sector

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, launched the Industrial Strategy "Operation 300bn". The 10-year comprehensive strategy aims to empower and expand the industrial sector to become the driving force of a sustainable national economy, increasing its contribution to the GDP from the current AED133 billion to AED300 billion by 2031.Operation 300bn will support more than 13,500 SMEs by 2031, as they are major drivers of shaping a productive industrial sector and sustainable economy. More than 33,000 industrial enterprises operate in the UAE, comprising 95 percent of small and medium-sized businesses.Focusing primarily on future industries that implement advanced technology and the Fourth Industrial Revolution (4IR) solutions and applications, the strategy will work towards advancing the national economy and contributing to the sustainable development.It aims to increase the in-country value through improving and promoting local products on a global level and building an attractive business environment for local and international investors to boost productivity. The plan provides a competitive package of facilities and incentives with the aim of positioning the UAE as a global industrial hub that attracts talents, developers and experts from all over the world.His Highness Sheikh