Dubai is one of the most prosperous and dynamic cities in the world and is a center of business and commerce in the Middle East. Multiple economic sectors contribute to this growth and the manufacturing industry stands out. Which contributes significant added value to the economy and development of the country. The manufacturing companies in Dubai offer high-quality and competitive products, which are from different important sectors. For instance, food, beverages, electronics, and machinery.
In this article, we will analyze how manufacturing companies in Dubai drive growth in the United Arab Emirates. In addition, we will show you which are the main sectors of the manufacturing industries in the UAE and how they contribute to economic growth. We will also show you some examples of the advantages that these companies offer to Dubai and what their impact has been. Another important point to discuss will be the evolution of this type of industry in the country and the government’s initiatives to continue promoting them.
Exploring Dubai’s Manufacturing Sector
Currently, the manufacturing companies in Dubai make a huge contribution to the overall GDP of the UAE. This is the third largest sector in nominal GDP share, after mining and retail and wholesale trade. Furthermore, manufacturing in 2022 was just under 10% of the UAE’s nominal GDP. The participation of manufacturing in nominal GDP is indeed lower in Abu Dhabi and Dubai (approximately 6% and 8.7% respectively).
However, surely the UAE’s figure presents a boost thanks to other Emirates. For example, RAK and Sharjah, with important industrial bases. Furthermore, the real growth of the UAE manufacturing sector shows growth compared to previous trends. The real GDP growth of the UAE in the manufacturing sector is 8.75% in 2022. That is, well above the average rate of 2.8% between 2017-2019.
In the Emirates, the growth of the manufacturing companies in Dubai is constantly changing. Currently, the manufacturing GDP in Dubai has a growth of only 0.26% year-on-year in 2022. However, the annual growth of the sector in Dubai shows a decrease after 2013. That is, it presents an average drop of 1.2% between 2014 and 2022, from an average of 5.8% between 2010 and 2013.
But, stronger manufacturing GDP growth can be seen in Abu Dhabi. Specifically, 9.7% year-on-year for the year 2022. However, it is important to highlight that there is significantly greater volatility in the growth of this sector in Abu Dhabi. One of the reasons may be due to the variation in the price of oil with repercussions for petrochemical production.
Finally, of the priority subsectors that are in Operation 300 billion, heavy industries are the most important. The reason is that they make the largest contribution to manufacturing value added in the UAE.
Overview of the Industrial Sector in Dubai
Currently, Dubai is in constant efforts to transform itself into a global industrial and manufacturing hub. Thus, significant investments can be attracted to key sectors of the economy. For example, pharmaceutical, aerospace, electronic equipment, and others. All this is thanks to Dubai’s industrial strategy. This aims to project an additional growth of 5 billion dollars in its industrial sector by 2030.
In recent years, the contribution of Dubai’s industrial sector to its GDP is significant. Specifically, it is between 11% and 14%. As a result, this is the third largest sector after trade and logistics. It continues to demonstrate solid growth, even in times of global crisis. All this is thanks to a series of strategic government initiatives and programs. For example, the Dubai Industrial Strategy, to boost the global competitiveness of the sector.
Many global companies have manufacturing companies in Dubai and research and development centers in the area. Which is a type of measure that is in line with the Emirate’s industrial strategy to boost production. Specifically, in key sectors such as pharmaceutical and medical products. Most of them are attracted to Dubai Industrial City. That is a free trade zone of the emirate.
As a result, many of the world’s largest companies choose Dubai. The reason is to expand its impact and reach with manufacturing companies in Dubai. Thanks to this, the emirate can obtain the enormous opportunities in the region that the emirate offers access to.
Finally, it is worth highlighting the Dubai Industrial Strategy 2030. It aims to turn the Emirates into a global platform for companies. Especially those with specialization in sustainable knowledge and focused on innovation. Furthermore, thanks to this strategy there are 75 initiatives to transform Dubai into an industrial center.
Understanding Manufacturing Industries in Dubai
The first thing you have to know is the definition of the manufacturing industry. In short, it is the purpose of transforming semi-processed goods or raw materials directly into final consumer goods. The final product is ready for immediate marketing through distributors and other mechanisms. Thus, they can reach the hands of consumers.
Currently, the manufacturing companies in Dubai are booming like never before. As a result, there are licenses available in a variety of sectors, including manufacturing. In addition to others such as import/export, cleaning, and even independent work. This prosperous country contributes significantly to the country’s GDP. Importantly, it exports products worth AED 167 billion annually.
Dubai is the ideal place to establish a manufacturing company for multiple reasons. Among the main ones, it is essential to comment on the following:
- The strategic location of the emirate Dubai.
- It has easy access to international markets.
- There are government policies to support them.
- Favorable and attractive environment for business.
- Competent workforce and first-class infrastructure.
Key Segments and Specializations
Currently, the key segments or priority subsectors are as follows, according to the Dubai Industrial Strategy.
Aerospace: Dubai is the world center for aviation, so it can manufacture aircraft parts and provide aeronautical services with ease. One of the leading a airlines in the world is Emirates Airlines. As a result, the strategy aims to support this airline by localizing manufacturing capabilities.
Medical equipment and pharmaceutical industry: Medical equipment and pharmaceutical products are a vital sector for any economy. Currently, there are lucrative opportunities to develop this sector. In addition, many international companies show interest in moving plants and research centers abroad to exploit new markets. Dubai is one of the main centers to host these international companies.
Aluminum and Fabricated Metals: Dubai is currently one of the world’s largest producers of fabricated metals. Especially aluminum. The United Arab Emirates stands out as one of the main producers of aluminum.
Food and drinks: You have to know that the countries of the Gulf Cooperation Council import 70% of their food needs. As a result, they have an annual growth of more than 3% and Dubai can play a very important role. Especially, to become an important center of food products in the region.
Machinery and equipment: The machinery and equipment sector accounts for 25% of Dubai’s overall industrial sector. As a result, it is one of the largest industrial sub-sectors in the emirate. Furthermore, the idea is that efforts to develop this sector continue to add a significant amount to the value of GDP.
Contribution to Dubai’s Economy
In the UAE you can find some of the most dynamic and vibrant industries in the MENA region. Each of these sectors plays a vital role in the country’s economy. That is, from oil and gas to construction, real estate, tourism, logistics, and transportation. In addition, financial services, health care, health insurance, and retail trade.
All of them create a prosperous business environment that attracts investors from all over the world. Thanks to that, Dubai’s economy shows constant growth. Currently, the United Arab Emirates is one of the most aspiring places in the world for entrepreneurs. Specifically, those who want to open their own business or expand their presence in the Middle East. That is, it offers some of the most attractive investment opportunities in the world.
Production Companies in UAE: Role and Impact
The first thing you have to know is that a production company uses components, raw materials, or parts to manufacture a ready-made good. These products can be sold directly to consumers. The other option is to sell it to other manufacturing companies that use it to make a different product.
In other words, the main activity of production organizations is the transformation of materials. Especially, from obtaining the raw materials to turning them into objects to fulfill a function.
The impact of a production company lies in the following characteristics:
- Production of goods
- Distribution of goods in the market.
- Conservation of the final product respecting the stages of the production process.
- Comply with a strategically defined business production process based on global objectives.
Significance of Production Companies in the UAE
Production is one of the essential elements for the existence of a product in the target market. One of the places with the greatest capacity for establishing companies is the United Arab Emirates. According to business investors, this is an excellent region to invest in regardless of the size of the company.
The government in the UAE is working tirelessly to develop the area as one of the booming manufacturing production destinations. Specifically, for the recognition of the nature of the manufacturing industry and the benefits that come with it.
Currently, there are several investment opportunities for business investors to invest in the manufacturing sector. The contribution of the production sector to GDP amounts to 14%. In the United Arab Emirates, they have plans to increase it to 25% in the next 15 years. To achieve this, they have significant investments in petrochemicals, fertilizers, and metal processing in particular.
Although the country will continue to depend on the oil sector for several years, its dependence is gradually decreasing. That is, the proportion of oil in the GDP of the UAE is slowly decreasing. Although the oil industry remains an essential sector in terms of its share of GDP, the shared share of non-oil sectors reflects the growing diversity of the UAE economy.
Influence on Industrial Growth in Dubai
Production companies have a great impact on the industrial sector. The production industry is growing significantly, due to a combination of government initiatives and global circumstances. According to the UAE government website, the production company currently contributes $36.2 billion to the GDP. In addition, it intends to reach $81.7 billion in 2031.
On the other hand, production companies in the UAE have access to a solid economic base. In addition, it gives a large market with diverse consumers to boost the industrial sector. Other benefits include its proximity to major global markets. For instance, the Middle East, Asia, Africa, and its modern infrastructure.
The anticipated future growth and current state of production activities in the UAE make it an attractive investment opportunity. Especially, for foreign investors with many different opportunities to establish a business in the country.
Role in Economic Diversification
The manufacturing industry has long been a key component of the country’s economic diversification efforts. Additionally, there are many large government institutions to support the government. For instance, Mubadala and Senaat. Which play an essential role in these efforts, along with private sector entities. For example, Al Ghurair Group of the United Arab Emirates Guardian Industries, or McWane of the United States.
Furthermore, the sectors that are the focus of manufacturing growth in the UAE or that will be in the future are the following:
- Construction materials
- Chemical products
- Pharmaceutical products.
- Food and drinks
- Defense and aerospace equipment.
In conclusion, the prospects for the manufacturing sector are very high in economic diversification. Industries based in the UAE are prepared to capitalize on the country’s strategic location. In addition, it has modern industrial infrastructure and world-class transportation. You will also benefit from relatively low taxes, easy availability of energy, goods, and labor, and business-friendly regulations. These benefits help UAE-based manufacturers address any potential challenges. Especially coming from lower oil prices, growing regional competition, or persistent foreign dumping.
Dubai as a Manufacturing Hub: Factors Driving Growth
The growth of Dubai’s manufacturing economy is aimed at elevating the emirate as a manufacturing hub. This is because the 300 billion operation and the Dubai Economic Agenda D33 are what help strengthen the business-friendly environment. Over the years, this has made Dubai a global hub for investors, talent, and innovation in the manufacturing sector.
Currently, Dubai is one of the manufacturing and logistics ecosystems. Especially for the largest equipped and fully equipped in the region. Additionally, it provides an environment that allows companies to pursue sustainable growth in the region. Many partnerships today that are part of the private and public sectors provide paths forward. Specifically, in the industrial sectors of the United Arab Emirates and Dubai.
The idea is to raise awareness of these opportunities at this year’s Make it in the Emirates forum.
Industrial Growth in Dubai: Trends and Factors
Predictive Manufacturing Analytics: Manufacturers need to take their manufacturing intelligence and use it in ways that drive the future. Thus, before risk events occur and opportunities are wasted, actions and decisions must be taken. It involves integrated analytics, capabilities for rapid response, and supporting predictive technologies.
Production quality control: Thus, producers achieve almost zero waste, zero contamination, and zero accidents. New quality improvements arise from visibility, information analysis, and communication.
Integrated scheduling and operations execution: To completely alter the way production scheduling makes factories and plants more flexible. In addition to making more products and supporting more product designs, new techniques are being created. This is all due to advanced uses of data, including elaborate execution preparation and scheduling.
Manufacturing visualization: Knowledge is worthless without having the opportunity to understand and work. Imagine being able to have a dynamic, holistic, and real-time view of operations. The further you go through a difficult supply chain you can imagine processes, people, property, and inventories. New networks, equipment, and control rooms allow manufacturers to see multiple factories in a single view. In addition, use advanced production panels and optimize your assets throughout the organization.
Technological Advancements in Manufacturing
Dubai shows great intentions to be the smartest city thanks to technological development. Initially, the latest advances and discoveries in the country are in the field of artificial intelligence. All this is to improve the daily lives of people and the industrial sector. The merits of the initiative go to the National Artificial Intelligence Program of the United Arab Emirates.
Currently, artificial intelligence is the next biggest revolution of our time. That is why the country’s objective is to be one of the most up-to-date nations on this matter. The idea is to continue implementing these measures to improve the manufacturing sector in the city.
Strategic Location and Trade Influence
Since 2009, the United Arab Emirates has been the United States’ main export market. Specifically, in the Africa and Middle East region. Additionally, they are a global hub for more than 1,500 foreign companies doing business throughout the Middle East, Europe, Asia, and Africa. The UAE’s main characteristic is being a dynamic economy. In addition, they continue to diversify rapidly in their objective of transforming into a knowledge economy.
The strategic location and openness of the UAE to international business as a gateway to the region. As a result, business opportunities exist and make this country an attractive market for foreign exporters.
Overview of Manufacturing Facilities in UAE
In the UAE, the manufacturing industry covers key sectors. For example, rubber, chemicals, plastics, metals, and food manufacturing. Each of these plays an important role in the country’s GDP.
Currently, the chemicals, plastics, and rubber sector represents a considerable part of the national manufacturing value added. In addition, the United Arab Emirates intends to increase its petrochemical capacity. This way the contribution of this sector can be further strengthened. Dubai alone is home to a significant number of plastic manufacturing plants.
The metal fabrication sector also makes a significant contribution to the manufacturing market. Furthermore, the metal fabrication equipment market in the UAE is expected to have steady growth in the coming years. It is important to highlight that the United Arab Emirates is one of the main aluminum-producing countries in the world.
Finally, the food manufacturing sector also plays an important role in the manufacturing landscape in the UAE. This nation is home to numerous food and beverage manufacturing units, attracting significant investments.
Dubai’s Factories: Types and Operations
Currently, there are many types of manufacturing factories in Dubai with different functions. Below, you will see some of the main and most important ones in the city.
Food: Refers to all companies with operations on processes in the food chain. Among its functions is the concept of processing, transportation, conservation, reception, storage, and food services. All this is to bring food for both human consumption and animal consumption.
Textiles: Companies in this sector make use of different materials. For instance, threads, fibers, and fabrics. Subsequently, the product is for the manufacture of elements and garments of clothing, accessories, footwear, decorative fabric, and other similar products.
Electronic equipment and machinery: These are organizations with the purpose of manufacturing fixed and mobile machinery. Likewise, their function is the manufacturing of electronic products that will be for consumer consumption or other sectors. For example, construction, technology, finance, or services.
Paper: Companies of this type use raw materials such as cellulose plant fiber. This material can be processed to form different products. For example, flexible sheets, recycled paper, packaging paper, sanitary or cigarette paper.
Drugs and chemicals: Both drug and chemical companies focus on the processing of inorganic and organic raw materials to obtain their products. In the case of the pharmaceutical industry, its main function is the manufacturing and marketing of medicines.
Diverse Manufacturing Facilities in Dubai
A wide variety of investment opportunities can be found in Dubai. This is because Dubai is one of the most popular business centers that exists in the world today. In this way, the industrial sector in Dubai is a good investment opportunity, but it is often difficult to make the right choice.
Therefore, it has various facilities so that investors have complete freedom of choice when making their investments. Next, we will introduce you to some of the manufacturing industries in Dubai:
- Food and drinks.
- 3D printing and additive manufacturing.
- Manufacture of renewable energy equipment.
- Manufacturing of medical devices.
Dubai continues with impressive development. From financial companies to manufacturing companies; Dubai factories are growing rapidly. In this way, it became a center full of successful industries, greatly benefiting investors.
Innovation and Infrastructure in Manufacturing
Much of the industrial growth in Dubai is driven by its large and innovative infrastructure. Because industrial companies need specific characteristics to carry out their processes; A good infrastructure is essential for the proper development of the company.
In this way, the government has ensured that companies can have the best facilities in the industry. Therefore, Dubai offers investors an innovative and state-of-the-art infrastructure. Thanks to this, companies can greatly increase their production and the quality of their products or services.
Industrial Development in Dubai: Progress and Prospects
The economic growth in Dubai in the last two decades is impressive. Furthermore, with high prospects in the future thanks to the extensive development projects that are currently established. The government along with legislative institutions was designed to be able to create a business environment that is favorable for all investors.
Thanks to this, it led to much greater development and greater capitalism that led to overall growth in the economy. In summary, it can be said that Dubai’s pace of industrial development is unique. Furthermore, thanks to the UAE labor law, a favorable outlook was presented for employees not only in the country but also for highly capable people from all over the world.
Evolution of Industrial Development in Dubai
The industrial development in Dubai is impressive and this is evident in its great economy. For this reason, it is worth noting that the UAE economy ranks second in the Middle East only behind Saudi Arabia. In this way, in the 80’s the state saw the need to diversify the economy. Therefore, they could not focus solely on oil.
In this sense, the UAE economy was driven towards logistics, maritime transport, and trade. By 2001 the UAE found ways to maintain its economy by finding new methods for energy generation. Additionally, they ventured into small-scale manufacturing.
Thanks to this, a very significant impact could be observed on the economic development of the region. Therefore, governments went further to be able to support business developments such as the automotive industry. In 2014 they had already been able to diversify their economy. In addition, they paid more attention to skilled labor, knowledge, and technology.
However, the UAE has not stopped at this point. Therefore, they have increasingly sought greater innovation, investing in science, research, and technology to continue enriching their economy. Thus, if you want to invest in the industrial sector or simply work in the UAE, you must know all the laws and regulations of the country.
Government Initiatives and Support
Becoming the Dubai manufacturing hub is one of the Government’s main goals. For this reason, the UAE Government has implemented various initiatives to help the growth of this important sector.
For this reason, Dubai Industrial City, a commercial district that is managed by Tecom Group; signed three strategic partnership agreements to support the UAE in its efforts to support the industrial and manufacturing sector.
In this way, it signed agreements with the Emirates Development Bank, the Dubai Department of Economy and Tourism, the Ministry of Climate Change and Environment, and the Ministry of Industry and Advanced Technology. In addition, it unveiled its campaign that would help it position itself as a leading manufacturing center.
Thanks to this and many other government initiatives, the manufacturing industry has greatly benefited. In this way, it has managed to attract large investors from all over the world and get them to establish themselves in the region.
Future Prospects and Sustainability Efforts
In 2015, the Dubai government launched its Dubai Clean Energy strategy. This aims to make the city one of the most sustainable in the world by 2050. In this way, the strategy includes a wide variety of ambitious objectives. Furthermore, it consists of five main pillars.
These pillars are infrastructure, financing, legislation, creation of new capacities, and an energy mix that is respectful of the environment. Focusing on the infrastructure pillar, we find initiatives such as the Mohammed Bin Rashid Al Maktoum Solar Park.
This is the largest solar energy generator in the world from a single location. Furthermore, it is capable of producing 5,000 MW by 2030 and has a total investment of AED 50 billion.
Impact of Manufacturing Businesses in Dubai
Manufacturing companies in Dubai are a fundamental part of the country’s economic growth in recent years. Therefore, thanks to the availability of large quantities of oil and gas in the country; The large income generated by these resources is used to boost other sectors of the country’s economy.
Furthermore, being a country where business is very favorable, large investors from all over the world have chosen Dubai as the ideal economic center for their companies. Furthermore, the UAE government has been able to participate in international trade agreements and unions. In this way, the country was able to reach a better level in its business performance.
Thanks to the great industrial growth of Dubai, money has been available to establish various infrastructures. Furthermore, it is worth highlighting that the manufacturing companies in Dubai are the most modern. Therefore, it has managed to attract many investors.
In this way, it has generated many employment opportunities for nationals and foreigners. Therefore, it can be stated that the country has the lowest level of unemployment among all its citizens. Furthermore, thanks to the UAE employment contracts, it has been possible to maintain high productivity in the companies.
Economic Influence of Manufacturing Businesses
Dubai’s manufacturing sector is considered to be of great economic importance to the country. This is thanks to the wide range of job opportunities they offer, addressing unemployment, facilitating technology transfer, and improving skills. Thanks to the promotion of industrial development by the UAE government, the country’s economy benefited greatly.
The premise was to take advantage of the UAE’s large endowment of natural resources as fuel and raw materials for industries. In this way, companies such as the Abu Dhabi National Oil Company, the Dubai Aluminum Company, and Ruwais Fertilizer were created.
Additionally, different industrial development departments were created in the Emirates. In this way, it seeks to support industrial activity in these. Therefore, the influence of manufacturing businesses in Dubai on the country’s economy is significant. Promoting economic growth in the country and attracting foreign investments to the country.
Employment Opportunities and Labor Dynamics
The manufacturing companies in Dubai are essential for the daily lives of all people. In addition, its activities range from the manufacture of vehicles or computers to the production of food. Therefore, talent is key so that all the sector’s objectives can be completed.
Thanks to this, it offers a wide variety of job opportunities for nationals and foreigners. Therefore, automation can reduce the number of workers needed in a facility. However, this may also require a much higher level of qualification requiring new hires or the hiring of employees already on staff.
For this reason, Dubai factories have strategies to increase employee commitment. In this way, they can improve the work dynamics of companies and increase employee productivity.
Contribution to the National GDP and Export
Thanks to increased support and funding from the government, the UAE manufacturing sector has been among the largest non-oil contributors to Dubai’s GDP since 2009, ranking as the fourth largest contributor with 38,720. million AED or 13.2%.
Furthermore, the manufacturing sector also employs 8% of the total workforce in Dubai. This is proportional to its total contribution to GDP. Therefore, this sector operates at reasonable productivity levels.
On the other hand, based on constant price levels, the manufacturing sector has experienced an average growth of 8% annually. This was between 2007 and 2010, despite a sharp drop between 2008 and 2009. However, in 2010, manufacturing GDP growth managed to register 11% compared to 6.20% in 2009.
Frequently Asked Questions
Does Dubai have manufacturing companies?
Dubai has a wide variety of manufacturing companies. In this way, we can highlight the following:
- Food and drinks.
- 3D printing and additive manufacturing.
- Manufacture of renewable energy equipment.
- Manufacturing of medical devices.
What major manufacturers have plants in UAE?
- Slab House.
- General Electric.
- Streit Group.
- Air Products.
Is Dubai a manufacturing hub?
Despite all the growing global challenges, Dubai is among the fastest-growing economies in the world. In addition, it is in a very good position to become the world center of finance, manufacturing, and trade. All this while pursuing its ambitious goal of doubling the size of its economy in the next decade.
What is the best manufacturing business in Dubai?
In Dubai, there are a wide variety of manufacturing companies of great importance in the country and worldwide. However, the best you can find is the manufacturing of electronic products that has companies like Siemens and Samsung Electronics.
How can I start a manufacturing business in Dubai?
If you want to start a manufacturing company in Dubai you must follow a series of steps. In addition, you must obtain different licenses and permits that will vary according to the activity of your company. Therefore, we recommend you visit ConnectHR to learn more about the process of setting up your company in Dubai.
Manufacturing companies in Dubai are a key driver for the UAE’s industrial growth. In addition, they contribute to generating employment, and wealth and diversifying the country’s economy. In this way, these companies face various challenges such as global competition, environmental sustainability, innovation, and many others.
However, they also have great opportunities. In this case with a first-class infrastructure, a competent workforce, a very business-friendly environment, and a great strategic location. Therefore, this sector is essential for Dubai to meet all its future economic objectives.
Furthermore, these companies represent an excellent opportunity for all investors, customers, and workers around the world. In this way, they can be part of a sector that is competitive, dynamic, and innovative.
Summarizing the Manufacturing Landscape in Dubai
The UAE is determined to change all the conventional ideas of the manufacturing process. Furthermore, this is through the use of emerging technologies. In this way, it is expected to achieve much better production and economic progress that is constant. Therefore, if we want to address today’s challenges, a modern approach is necessary.
For the Minister of Industry and Advanced Technology of the UAE, it is necessary to strengthen industrial capacity and strengthen supply. In this way, the proposed solution is simple: take advantage of the technologies that the new era brings and promote cross-border collaboration.
For this reason, the crux of the Fourth Industrial Revolution, which the ministry announced, expands the scope of manufacturing practices. All this through an extensive deployment of innovative ideas and emerging technologies. In this way, greater economic value is added. Furthermore, Dubai is currently the epicenter of all disruptive technologies in the region.
The 4IR is key to the UAE’s Operation 300 billion. This operation aims to increase the contribution of the manufacturing sector to the national GDP; which will increase to AED 25 billion in the next 10 years. In this way, industrial productivity will be improved by 30%.
Role in UAE’s Economic Growth and Global Presence
In 2021, the development of the UAE’s manufacturing base was highlighted. This is due to the announcement of the 300,000 million operation. In this way, the strategy promoted by the MoIAT seeks to expand the sector’s contribution from AED 133 billion to AED 300 billion by the year 2031.
For this reason, it seeks to prioritize the development of many key subsectors. These include food and beverages and pharmaceutical products. Additionally, the UAE adopted a new industrial law that is designed to allow the sector greater flexibility when adopting policies to support manufacturing activity.
The contribution of the manufacturing industry to the overall GDP of the UAE is key. Furthermore, it is the third largest sector when speaking in terms of share in nominal GDP. In 2022, manufacturing will represent a little less than 10% of nominal GDP.
In this way, its contribution to the great economic growth of the UAE is very noticeable. Additionally, this sector has a large number of important companies from all over the world. Establishing the UAE with a large global presence and being one of the countries with the highest GDP in the Middle East.
Future Trajectory and Importance in Dubai’s Industrial
The Dubai Industrial Strategy 2030 initiative catalyzes the transition towards economic growth that is more sustainable. This strategy is one of the most important elements to achieve the objectives of the Dubai Plan 2021. In this way, it seeks to reinforce the position of the UAE as a global center.
Furthermore, to make it the preferred destination for industries and sectors that are under the leadership of HH Sheikh Mohammed bin Rashid Al Maktoum. This is the Vice President of the UAE, Prime Minister, and Ruler of Dubai. In this way, the Dubai Industrial Strategy managed to identify a strategic vision and established 5 key objectives until 2030.
The goal is for Dubai to become a global platform for industries that are sustainable, innovative, and knowledge-based. Additionally, the strategy is focused on six main subsectors:
- Pharmacist and medical equipment.
- Aluminum and fabricated metals.
- Fast moving consumables.
- Machinery and equipment.
On the other hand, the 5 key objectives are:
- Growth engine: Achieve an increase in total GDP and the added value of the manufacturing company.
- Based on innovation: Achieving an improvement in the depth of knowledge and innovation.
- Home of Global Business: To be the preferred manufacturing platform for global businesses.
- Environmentally sustainable: Promote manufacturing that is environmentally friendly and energy efficient.
- Adopt Islamic standards: Be a hub for the global market for Islamic products.
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