The UAE’s industry and advanced technology sector is experiencing significant growth, driven by a solid infrastructure, flexible regulations, and a robust system of standards that enhance the competitiveness of Emirati products.
This development has solidified the sector’s role in promoting sustainable economic growth, improving its global competitiveness, and making substantial contributions to the national GDP under the National Strategy for Industry and Advanced Technology, “Operations 300bn.”
Omar Al Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technology, reported that the industrial sector’s contribution to GDP reached 11%, totaling AED205bn ($56bn) by the end of 2023.
This progress has played a crucial role in supporting the UAE’s economic diversification and sustainable development. The UAE’s ranking in global competitiveness has risen from 35th place in 2019 to 27th globally, securing the top position in the Arab world, according to the UNIDO Competitive Industrial Performance Index.
Al Suwaidi also highlighted the success of the National In-Country Value Programme, launched as part of the “Projects of the 50.” By the third quarter of 2024, the initiative had redirected over AED73bn ($19.9bn) in corporate spending into the national economy. The program has driven integration between industrial and service sectors, while creating social impact by providing employment for over 19,000 Emiratis in private sector companies certified by the initiative.
The Industrial Development Council, consisting of federal, local, and industrial zone representatives, has played a vital role in streamlining industrial licensing procedures and implementing a new industrial law that simplifies licensing requirements, particularly for SMEs.
Over the past few years, industrial financing has significantly expanded, with more than AED19bn ($5.2bn) in competitive funding provided by the Emirates Development Bank and other UAE financial institutions. In 2024, AED9.5bn ($2.6bn) was allocated to the industrial sector, including AED1.1bn ($299m) for advanced technology and AED1.8bn ($490m) in credit solutions from Etihad Credit Insurance.
The “Make it in the Emirates” Forum has reached key milestones across its three editions. By the end of 2023, purchase agreements for locally manufactured products over the next decade had reached AED143bn ($39bn), covering 2,000 products. Additionally, manufacturing contracts valued at AED62bn ($16.1bn) were awarded, and more than 300 products were produced and purchased in quantities worth approximately AED7bn ($1.9bn).
The UAE’s industrial sector has achieved remarkable growth, significantly boosting GDP and attracting substantial investments. At One Investments, we are committed to guiding you through every step of the journey. Contact us today to turn your dream of owning a modern, luxurious, and permanent residence in your desired country into a reality.
