UAE industrial exports value rises Dhs70bn in 3 years: MoIAT

Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, recently highlighted the significant strides made by the Ministry of Industry and Advanced Technology (MoIAT) in boosting the UAE’s industrial sector since its launch.

Dr Al Jaber showcased MoIAT’s focus on increasing in-country value in the national industrial sector and enhancing manufacturing value-add to promote supply chain security and economic competitiveness.

According to the state news agency, WAM, he revealed that these efforts have resulted in import substitution projects worth Dhs9.3bn, contributing to greater industrial security and self-sufficiency.

Moreover, Dr Al Jaber highlighted the role of MoIAT-launched enablers and incentives in supporting sustainable business growth and reducing financial barriers for industrial companies. He emphasised the importance of financing in driving innovation, technological transformation, and job creation in the private sector.

Reflecting on the state of the UAE’s industry and technology sector before and after MoIAT’s establishment, Dr Al Jaber noted a significant shift towards streamlining regulatory processes and enhancing the ease of doing business.

He highlighted the launch of the National Strategy for Industry and Advanced Technology, Operation 300bn, in 2021, aimed at fostering a robust industrial business environment and establishing an integrated system of enablers, incentives, and financing solutions.

MoIAT has made key contributions to the economy

Dr. Al Jaber shared impressive statistics indicating the sector’s growth since MoIAT’s establishment, including a 49 per cent increase in its contribution to the UAE’s economy. He cited notable achievements such as the redirection of over Dhs237bn into the national economy through the National In-Country Value (ICV) Programme, leading to the employment of 16,000 Emiratis across ICV-certified companies.

Furthermore, Dr Al Jaber highlighted MoIAT’s efforts in promoting advanced technologies and Industry 4.0 solutions to boost industrial exports and position the UAE as a regional and international hub for future industries.

He mentioned initiatives such as the Industrial Technology Transformation Index and incentive packages aimed at accelerating technological transformation and enhancing productivity.

Looking ahead, Dr Al Jaber expressed optimism about the upcoming third edition of the Make it in the Emirates Forum, emphasising its role in promoting investments, enhancing cooperation, and discussing future industrial trends. He noted the forum’s focus on sustainable practices and technological solutions to lower carbon emissions, aligning with the UAE’s commitment to national sustainability targets.

“The ministry will continue to expand the scope and impact of the Technology Transformation Programme to enhance productivity and innovation in the industrial sector. While the adoption rate of advanced technology and AI already stands at 32 per cent, the UAE’s leadership recognises the vital importance of applying these advanced technologies across the industrial sector to further enhance the UAE’s global competitiveness,” he said.

At a glance: MoIAT highlights in numbers

• MoIAT was established in 2020.
• In March 2021, the National Strategy for Industry and Advanced Technology, Operation 300bn.
• The UAE’s economy has increased by 49 per cent since MoIAT was established.
• In 2020, before the ministry was created, the sector’s contribution to GDP was Dhs132bn. It has now reached a projected Dhs197bn.
• Industrial exports have risen by 60 per cent with significant progress being made in 2023, amounting to a projected Dhs187bn compared to Dhs117bn in 2020.
• Industrial productivity has increased by 18 per cent since 2020.
• In 2023, the UAE ranked first regionally and 29th globally in UNIDO’s Competitive Industrial Performance Index, climbing seven spots since 2020.
• More than Dhs237bn spent outside the UAE has been redirected into the national economy through the National In-Country Value (ICV) Programme
• 6,000 Emiratis have been employed across ICV-certified companies
• MoIAT has stimulated high-tech industries with financing solutions worth Dhs1.5bn in 2023, resulting in the growth of high-tech exports from Dhs2.9bn in 2020 to Dhs3.5bn in 2023.
• In 2023, the ministry provided Dhs5.3bn in financing solutions for the industrial sector.