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DUBAI / WAM
Dubai’s industrial sector has seen significant progress this year, under a new strategy launched by the Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. The Dubai Industrial Strategy, which entered the implementation phase earlier this year, aims to elevate the emirate into a global platform for knowledge-based, sustainable and innovation-focused businesses, in line with the framework of Dubai Plan 2021.
The Dubai Industrial Strategy focuses on enhancing industrial coherence and integration with other economic sectors – linking the target sectors to education and research institutions, with a view towards stimulating innovation and creativity, as well as creating an attractive investment environment for the targeted industries. The strategy is projected to increase Dubai’s total GDP by AED165bn by 2030.
Already, industrial GDP growth has risen significantly from only 0.6 percent in 2015, to 3.4 percent in 2016. And under the strategy, the industrial sector is expected to grow by an additional AED18 billion by 2030 creating 27,000 jobs with exports forecast to increase by AED 16 billion.