UAE gets Dh25 billion boost in procurement, to add 1,200 jobs in local manufacturing
The UAE increased the value of procurement from local manufacturers from Dh143 billion to Dh168 billion over the next 10 years, an increase of Dh25 billion from last year's figures, said Dr Sultan Al Jaber, the UAE's minister of industry and advanced technology.
Speaking on Monday during the welcome keynote at the ' Make it in Emirates ', he said this initiative has been taken to localise the manufacturing of over 4,800 products and further support the industrial sector in the country. This initiative will significantly boost local manufacturing across various sectors and create jobs.
He added that the UAE will provide Dh40 billion in competitive financing and create 1,200 jobs for the citizens in the manufacturing sector over the next five years.
He elaborated that in addition to the Emirates Development Bank, other commercial banks operating across the country will be part of this financing package.
'There are rapid economic shifts which are creating unprecedented opportunities across all industries. The UAE has succeeded in laying a strong foundation for building a strong industrial sector that supports economic diversification,' he said during the speech at the fourth edition of Make it in the Emirates, taking place from May 19 to 22 at Adnec Centre in Abu Dhabi.
AI is beyond a tool, it's an economic sector
'Countries with strong industrial foundations enjoy sustainable economic growth and secure a bright future, and every investment in the industrial sector has multiple effects. As we move toward advanced industries like artificial intelligence (AI), and robotics, the world is witnessing a new industrial era driven by ideas and accelerated by technologies. We launched the UAE's industrial strategy to grow the sector's contribution to GDP, support local products, power supply chain and accelerate the adoption of Fourth Industrial Revolution technologies,' he said, adding that 'We don't see AI just a new tool and technology but as a complete economic sector,' he said.
Dr Sultan credited UAE's Comprehensive Economic Partnership Agreements (CEPAs) for enhanced market access for Emirati products and raised the country's foreign trade to over Dh5 trillion.
The first phase of the US-UAE AI Campus was launched during US President Donald Trump's Gulf visit last week. It will be the largest AI hub outside the US and will boost UAE's standing in the global economy.
'This is how the UAE leads industries of the future to advance our journey toward technology and AI adoption. The ministry launched a technology transfer programme, supporting over 500 factories with financial facilities totalling Dh4.6 billion. We are focusing on renewable energy technology, space, semiconductors, smart chip components for AI data centres, energy storage batteries and autonomous vehicles, among others.'
The minister pointed out that through the National In-Country Value (ICV) Programme, which redirects as much spending as possible toward national products and services, local spending reached Dh347 billion and created over 22,000 jobs for Emiratis.
Dr Sultan Al Jaber invited local and international investors to explore opportunities offered through the Make It in the Emirates platform and build a high-quality, long-term industrial partnership.
'We encourage young Emiratis through the Make it in the Emirates platform to join the industrial sector through jobs or entrepreneurship. Step up as the UAE gives everything they need to succeed and lead in the future. The 'made in the UAE' mark will be a symbol of quality excellence,' he concluded.
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