As the second-largest economy in the Arab world works to achieve its objective of making the UAE a global industrial hub by 2031, it has started a national initiative to quicken the speed of technological transformation in its industrial and manufacturing sectors
The Vice President and Ruler of Dubai, Sheikh Mohammed bin Rashid, posted on Twitter on Wednesday that the goal is to create 1,000 technical initiatives.
The initiative calls for the construction of national centers for industrial empowerment and calls for the yearly export of high-tech Emirati goods valued at Dh15 billion ($4.1 billion).
Sheikh Mohammed stated, "Our aim is a paradigm change for the automation of the industry."
As the UAE plots its route for the next 50 years of development, building up its industrial sector and increasing its manufacturing base are key pillars of the nation's economic diversification strategy.
The UAE introduced Operation 300bn in March 2021, a comprehensive plan to establish the nation as a major industrial hub by the end of this decade.
The 10-year plan aims to boost the industrial sector's contribution to the nation's gross domestic product from Dh133 billion last year to Dh300 billion by 2031.
Key elements of the strategy include innovation and the uptake of cutting-edge technologies in the industrial sector. By revising legislation, including enabling 100 percent foreign ownership of enterprises and making dedicated finance available, the UAE has increased the appeal of its industrial sector to investors.
The plan intends to move the UAE from 35th to 25th place globally on the Competitive Industrial Performance Index. It is centered on 11 industries, including petrochemicals, plastics, metals, food, agriculture, water, health care, space, biotechnology, medi-tech, pharmaceuticals, clean and renewable energy, including hydrogen production, machinery and equipment, rubber and plastic, electronics, and electrical devices.
Over the next ten years, the government intends to help 13,500 small and medium-sized businesses through an in-country value initiative that encourages consumers to buy local goods and services.
The UAE economy recovered well from the pandemic last year, and after picking up steam this year after rising by 8.4% in the first quarter, it is anticipated to develop at the fastest rate in 11 years.
Dr. Sultan Al Jaber, the minister of industry and advanced technology, claimed in June that the nation had recovered from the epidemic stronger thanks to a plan to further strengthen its industrial sector to increase economic resilience in the face of international problems.
Leading UAE firms like Mubadala Investment Company, Abu Dhabi National Oil Company, ADQ, Taqa, and Masdar are providing $30 billion in deals to UAE manufacturers in order to localise their supply chains and increase the nation's industrial production, Dr. Al Jaber said at the two-day Make it in the Emirates forum in Abu Dhabi.
The 11 key areas for local manufacturers offer more than 300 items, and more than $11 billion has already been channeled into the national economy through the national In-Country Value scheme, he claimed at the time.
The emirate creates an ecosystem for innovation and business models that are prepared for the future because of its focus on the future. In addition to a strong network of regulatory sandbox programs for the creation and testing of new tech business models, the city is home to numerous start-up incubators and accelerators. In the fields of artificial intelligence (AI) and robotics, Dubai leads the world in both FDI and technology transfer. A progressive government agenda in the emirate is also developing a live experimental testbed for ideas like Hyperloop technologies and flying manned transport.
Dubai is creating an environment that encourages innovation across industries. With a variety of futuristic long-term strategies spanning AI, blockchain, 3D printing, and the Internet of Things, it has highlighted this aim (IoT).
The goal of Smart Dubai is to make Dubai a smart city that is personalised, intelligent, and responsive in the future. Over 130 initiatives have been implemented by the Smart Dubai Office in collaboration with public and private sector organisations since its start.
Dubai Foundation for the Future:
Through a number of projects, the Dubai Future Foundation intends to aid in the development of the city. The four Dubai Future Labs, which were established in 2019 with the intention of fostering enterprise and innovation in the emirate, serve as more proof that the city is committed to maintaining its position at the cutting edge of science and technology worldwide. In a rotational 9-week programme, Dubai Future Accelerators offers businesspeople from around the world the chance to work with government agencies and major corporations situated in Dubai.
In collaboration with the World Economic Forum, the Foundation is also home to the first Affiliate Centre for the Fourth Industrial Revolution in the region, which focuses on creating policies to support the development of cutting-edge technologies like Precision Medicine, Artificial Intelligence, and Machine Learning.
The goal of the city's 3D printing agenda is to establish Dubai as a technology centre. It focuses on three key industries: construction, healthcare, and consumer goods. The goal of this ambitious effort is to 3D print about 25% of the emirate's buildings by 2030.
Through its pursuit of innovative ideas and promotion of exponential thinking, Dubai also keeps pushing the innovation agenda.
The UAE was placed 36th overall and in the top 3 innovation economies in the region of Northern Africa and Western Asia by the Global Innovation Index (GII).
One of the top 20 most innovative cities in the world is Dubai. Dubai, despite still young in comparison to other cities across the world, came in at an amazing 16th place overall out of 28 cities.
With the introduction of new goods and services as well as technological outputs, the emirate was known for being particularly strong in the area of output and performance. Additionally, it received high marks for fostering an innovative culture and government assistance.
Powered by the Ideas of Tomorrow:
Every area of Dubai's diverse economy displays a culture of creativity and innovation. It enables the city to adopt cutting-edge concepts and technological advancements in support of its plan to create a more advanced and sustainable model for contemporary cities.
It is able to look ahead because to its flexible regulatory structure. These elements work together to maintain an environment that inspires and supports creators and innovators.
Global Centre for Business Expansion:
Dubai is developing intelligent, highly linked infrastructure to support the advancement of innovation and guarantee that the city has steady growth that is resilient to external shocks.
Dubai aims to regularly be rated among the top five global hubs for trade, logistics, tourism, and finance. This goal is supported by dedicated investment in key growth areas and the development of smart cities.
The emirate is now a center for business and the future of the economy, drawing the best minds from around the globe to establish initiatives, research upcoming problems, and turn them into opportunities for sustainable growth. Additionally, our government agencies have developed into world-class hubs for future prediction.
Dubai is acutely conscious of the need for innovation to permeate all aspects of government operations and service delivery in order to empower residents and citizens alike.
The epitome of this ethos is Dubai 10X, which aims to develop "X Labs" in every government agency in order to put Dubai 10 years ahead of other cities across the globe in fields including technology, public services, healthcare, and education.
Underpinned by an aggressive economic diversification strategy, a future-proof innovation agenda, and socio-economic development measures, the Dubai 1000 Tech Plan aims to strengthen the city's status as a major international commercial center.