As part of His Highness’ follow-up on the implementation of the Dubai Industrial Strategy launched by Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum to elevate Dubai into a global platform for knowledge-based, sustainable and innovation-focused industries, Crown Prince of Dubai and Chairman of The Executive Council His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has issued directives to intensify efforts to accelerate the implementation of the Dubai Industrial Strategy, as part of achieving Dubai’s unified vision and promoting Dubai’s position as a global economic hub. His Highness also directed all the teams involved in the implementation of the strategy beginning 2017 to join hands to drive the implementation.
Sheikh Hamdan said: “Strengthening creativity and innovation in various industrial areas is one of the key elements of the Dubai Industrial Strategy, which is in line with our quest to consolidate the foundations of a sustainable dynamic economy based on research, knowledge and development. This can help achieve the goal of making Dubai a unique investment destination, especially as we already have the basic drivers and capabilities needed to achieve such a goal, including efficient and reliable infrastructure and legislative frameworks, which are continuously subject to improvement and development. All these elements will take the industrial sector into a new phase that is compatible with the aspirations and vision of our country to maximise the contributions of this vital sector in the post-oil era.”
His Highness the Crown Prince of Dubai stressed the need to intensify and unify the efforts of all government departments and entities involved in the implementation of the Dubai Industrial Strategy, in the light of the clear government operational plan. The plan, set by His Highness Sheikh Mohammed bin Rashid Al Maktoum, aims to strengthen the foundations of teamwork, to stimulate positive energy, and to open the way for innovative ideas and suggestions that will accelerate the achievement of the strategy’s objectives; it will also serve the overall development directives in the state, and assist the continuous development of Dubai’s economic capabilities and the policy of diversifying income sources.
Promoting Dubai’s position as a global economic hub
The General Secretariat of the Executive Council has confirmed that it has immediately begun to implement the directives of His Highness by organising a series of meetings and workshops with the entities executing the objectives of the Dubai Industrial Strategy, which focuses on enhancing industrial coherence and integration with other economic sectors - linking the target sectors to education and research institutions with a view to stimulate innovation and creativity as well as creating an attractive investment environment for targeted strategic industries. The strategy is projected to increase Dubai’s total GDP by AED165 billion by 2030.
In this context, Secretary General of the Executive Council of Dubai His Excellency Abdullah Al Shaibani said: “The Dubai Industrial Strategy is an enabler of Dubai Plan 2021 as it helps Dubai continue its journey towards achieving leadership and enhance its position as a global economic hub and one of the world’s most promising and leading hubs in various sectors. Under the leadership of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum and the close follow-up on the part of Crown Prince of Dubai and Chairman of The Executive Council His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, working on developing the industrial and economic sectors will result in strengthening Dubai's leading position globally to number one.”
He added: “The strategy entered the implementation phase in September 2016; six specialised work teams for all the targeted sub-sectors were formed and each team will follow-up the implementation process of the sector entrusted to it. These teams will work together with the support of a governmental working group and, being the representative of the Government of Dubai, will promote the plan when meeting investors. The teams will also launch a number of initiatives to drive the growth of the industrial sector in the next few months.”
Al Shaibani also pointed out that the members of these distinguished work teams were drawn from all stakeholders of the free and non-free zones both locally and federally, to ensure the involvement of all strategic partners in the industrial sector, especially in the private sector, in order to develop an ambitious strategy with practical and specific objectives and priorities. Everybody will be involved in implementing them and translating them into reality that will raise Dubai’s competitiveness to new levels.
Developing strategic objectives for building the economy of the post-oil era
The Dubai Industrial Strategy is based on five key objectives that will serve as the foundation for Dubai's industrial future to build a sound and sustainable economy based on the diversification of sources of income as well as for preparing for a post-oil future. Strategic objectives aim to increase the total output and value-added of the manufacturing sector, to enhance the depth of knowledge and innovation by improving labour productivity and increasing R&D spending, to make Dubai a preferred manufacturing platform for global businesses by increasing the presence of global manufacturers in Dubai and supporting the global outreach of local companies.
The strategy also aims to promote environmentally-friendly and energy-efficient manufacturing by reducing energy consumption and manufacturing pollutants, and supporting the Green Economy Initiatives. Additionally, it promotes Dubai’s position as the Capital of Islamic Economy by adopting Islamic standards through developing the Islamic products’ manufacturing sector and increasing the number of halal certified manufacturing companies in Dubai.
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