The UAE launched a strategy to promote the national industrial sector and called it “Operation 300 Billion,” a first-of-its-kind strategy to achieve a qualitative leap in the industrial sector. This move is driven by the ambition to make the sector the main fuel of the national economy on the span of the next 50 years.
This strategy focuses on futuristic industries based on 4.0 technologies. Operation 300 Billion is a national action plan at the state level within a broad vision seeking to promote the industrial sector and maximize its response to a major economic and tools. The plan provides many mechanisms and tools, as well as a package of unprecedented facilities, to attract foreign investments in the industrial sector, creating an industrial environment in the UAE with international standards.
The Operation 300 Billion aims to:
- Create an appropriate and attractive business environment for local and international investors in the industrial sector
- Support the growth and competence of national industries
- Stimulate tech solutions and innovation
- Position the country as a global catalyst of futuristic industries
The most important industrial sectors to be developed:
- Advanced technology
- Medical and pharmaceutical
- Clean and renewable energy
- Machines and equipments
- Rubber and plastics
- Supporting the launch of 13,500 SMEs.
- Increasing contribution to GDP from $36.2 billion, equivalent to 8.7% of GDP, to $81.7 billion by 2031.
- Increasing spending on R&D to develop the industrial sector from $5.7 billion, equivalent to 1.3% of GDP, to $15.5 billion in 2031.
- Ranking 25th on UNIDO’s World Center in the Competitive Industrial Performance Index.
Make It in the Emirates, One of the initiatives of Operation 300 Billion
The ‘Make It in the Emirates’ campaign to create a national identity out of products made in the UAE, as the name the initiative suggests. It is the first campaign of its kind in the UAE and encourages local and international investors to manufacture and export products. ‘Make it in the Emirates’ aims to create a sense of pride in locally made products, so that the ‘Made in UAE’ label on a product motivates people around the world to buy it for its superior quality, hypothetically.
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