Industrial sector contributes $49bln to UAE GDP

  • Date: 08-Feb-2023
  • Source: Zawya
  • Sector:Industrial
  • Country:UAE
  • Who else needs to know?

Industrial sector contributes $49bln to UAE GDP

The UAE’s industrial sector contributed over AED180 billion ($49 billion) to the country’s national GDP, while exports reached AED174 billion ($47.37 billion) in 2022, a top official said while highlighting the achievements of the Ministry of Industry and Advanced Technology (MoIAT).

“Our achievements indicate that the UAE's industrial sector is making remarkable progress in adopting advanced technology and stimulating innovation in industry,” Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology (MoIAT), said commenting on MoIAT annual achievements report issued today (Wednesday).

The report outlines the Ministry’s key outcomes and milestones in 2022, in regard to developing the industrial sector, increasing its contribution to national GDP, creating an attractive business environment for local and foreign industrial investments, and stimulating innovation and the adoption of advanced technology in industrial solutions.

The report showcases the progress of the national strategy for industry and advanced technology, Operation 300bn, which was launched in 2021 and aims to transform the UAE into a global manufacturing hub. Through joining forces with local and federal entities under the umbrella of the Industry Development Council, the National Committee for the In-Country Value (ICV) Program, the Steering Committee for Standardization and Metrology, and the private sector, MoIAT has worked

Follow the conversation