Make it in the Emirates: UAE companies allocate Dh110 billion to boost manufacturing

Make it in the Emirates: UAE companies allocate Dh110 billion to boost manufacturing

More than 300 products identified across 11 sectors that can be produced locally

Published: Tue 21 Jun 2022, 4:15 PM

A dozen of the UAE’s largest national companies on Tuesday committed to allocate nearly Dh110 billion in potential purchase agreements for local manufacturers.

At the Make it in the Emirates Forum held in Abu Dhabi, 12 of the country’s leading companies identified more than 300 products across 11 sectors to be manufactured locally.

“This unprecedented move will contribute to creating opportunities for the growth of the national industrial sector, adding at least Dh6 billion annually to GDP,” Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, said in his address.

The minister noted that the UAE’s leadership has been supporting the transformation of the industrial sector into a global manufacturing hub. He emphasised that the vision and directives of Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, constitute the foundation of the national industrial strategy, which is designed to contribute to a diversified and sustainable economy and leverage on the country’s value proposition and competitive advantages to build a strong industrial sector, enhance self-sufficiency and localise supply chains.

“The Covid-19 pandemic and recent geopolitical challenges have disrupted our supply chains and affected