The Ministry of Industry and Advanced Technology (MoIAT) and Dubai Industrial City (DI) have signed a deal designed to further enhance the UAE’s industrial sector while facilitating decarbonisation efforts.
The Memorandum of Understanding was signed on the first day of the Global Manufacturing and Industrialisation Summit at Expo 2020 Dubai.
It focused on three core elements, including enabling the UAE’s Industry 4.0 program, attracting foreign investors as part of “Make It In The Emirates” campaign, and facilitating decarbonization across the industrial sector. The partnership’s objectives are in line with the UAE’s industrial strategy, which aims to develop the nation’s industrial sector and raise its contribution to the GDP.
Launched in March 2021, the UAE’s industrial strategy outlines six core objectives, including enhancing the global competitiveness of local industries and stimulating innovation by accelerating the adoption of advanced technology across the industrial value chain. The MoU between the MoIAT and DI will focus on stimulating the growth of 11 critical industrial sectors, including food, beverage and agricultural technology, pharmaceuticals and electrical equipment and electronics.
The UAE’s industrial strategy is designed to better equip the nation for the future by localizing production and supply chains. By enabling advanced manufacturing, the strategy will work to increase productivity, boost the economy and create jobs, as well as develop future industries such as hydrogen, medical technology and space technology.
A key objective of the partnership is to enable the adoption of Industry 4.0 in the UAE. Fourth Industrial Revolution technologies and applications will create significant opportunities across the manufacturing and logistics supply chain. Automation, predictive analysis, artificial intelligence and other advanced technologies promise a variety of benefits.
The UAE’s industrial strategy serves to modernize industrial laws, support the adoption of renewable energy and provide flexible financing to make the UAE an increasingly attractive destination for industry.
MoIAT and DI will work to improve infrastructural appeal on par with leading markets and improve the ease of setting up and doing business. International organizations and investors can take advantage of competitive financing opportunities to establish and expand business activity in the greater region.
Continued support for ‘Make it in the Emirates’ ambitions further a need for localized factories and production facilities, providing homegrown manufactured products with a quality mark of approval recognized around the world.
MoIAT and DI will fuel the UAE’s sustainability agenda by facilitating the decarbonization of the UAE’s industrial sector. The partnership will help businesses ensure clean and green operations. Dubai Industrial City has supported several renewable energy projects in its ecosystem, contributing to national efforts to decarbonize the economy and reach net zero carbon emissions by 2050.
Also published on Medium.
