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Arabian Business
19-05-2025
- Business
- Arabian Business
Make it in the Emirates 2025: UAE industrial exports pass $53bn as sector creates jobs and boosts economy
The UAE industrial sector is witnessing remarkable growth with billions of dollars of investments and thousands of new jobs bring created. Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority, attended the opening of the fourth edition of 'Make it in the Emirates', taking place until May 22 at the Abu Dhabi National Exhibition Centre under the theme 'Advanced Industries. Accelerated.' The fourth edition of Make it in the Emirates is drawing broad local and international participation, bringing together top decision-makers from both the public and private sectors, as well as entrepreneurs, investors, industrialists, experts, innovators, and financial institutions. UAE investments More than 700 companies are showcasing their innovative products at Make it in the Emirates 2025 as it is expected to welcome more than 30,000 visitors. The event plays a pivotal role in empowering the industrial sector, accelerating technological transformation, and reinforcing the UAE's position as a global hub for industry and investment. It also contributes to the UAE's comprehensive economic development in line with the goals of National Strategy for Industry and Advanced Technology. Make it in the Emirates serves as a platform to facilitate knowledge and expertise exchange, foster partnerships, enhance self-sufficiency, localise supply chains, and strengthen industrial resilience. It empowers Emirati talent in the industrial sector by introducing them to key opportunities in industry and advanced technology, while also supporting startups and driving the growth and competitiveness of the UAE industries, particularly through advanced technology, Industry 4.0 solutions, and AI applications. In his opening address at the event, Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, said: 'The UAE has laid firm foundations for a robust industrial sector that contributes to economic diversification. This nation has proven its resilience and ability to adapt to change. 'Industry plays a vital role in creating added economic value, improving productivity, generating employment opportunities, building advanced and resilient infrastructure, developing an export-oriented production base, and boosting the GDP. 'Countries with a strong industrial foundation enjoy sustainable economic growth, ensure a prosperous and bright future, and contribute meaningfully to the advancement of societies. 'Investing in manufacturing is investing in an advanced economy. Every investment in this sector creates a multiplier effect by stimulating the growth of related sectors. 'Amid the shift toward advanced industries that rely heavily on cutting-edge technologies in production processes such as artificial intelligence, robotics, and advanced materials, the world is now witnessing the dawn of a new industrial era — one led by ideas, accelerated by technology, and shaped by agility and adaptability to evolving changes. 'Guided by the vision of our leadership, innovation, determination, and perseverance form the foundation of our progress, while flexibility, agility and productivity define our approach. 'We launched the National Strategy for Industry and Advanced Technology to increase the sector's contribution to GDP, support national products, enhance supply chains, and accelerate the adoption of Fourth Industrial Revolution technologies, and artificial intelligence. 'In the UAE, we don't see AI as merely a tool or a new technology — we recognise it as a fully-fledged economic sector. 'Globally, AI revenues are expected to exceed $1.5tn by 2040. As witnessed during US President Donald Trump's visit to the UAE last week, the first phase of the UAE-US AI data center was launched in Abu Dhabi and it is set to become the largest AI campus outside the United States. 'I take this opportunity to congratulate our leadership, H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security Advisor, and to all those involved in such strategic projects that strengthens the UAE's position in AI and the new economy. 'To support this direction toward adopting advanced technology and AI, the MoIAT launched the Technology Transformation Program and the Industrial Technology Transformation Index, which have supported over 500 factories with financing facilities worth AED4.6bn ($1.25bn). 'We also focus on enabling future industries — including renewable energy technologies, Small Modular Reactors (SMRs), space, semiconductors, smart chips, AI data center components, energy storage batteries, autonomous equipment, and advanced construction materials. 'The UAE's industrial sector has witnessed significant growth. In 2024, industrial exports reached AED197bn ($53.6bn) — a 68 per cent increase compared to 2021. 'We commend our colleagues across all ministries, particularly the Ministry of Economy, for expanding strategic trade through Comprehensive Economic Partnership Agreements (CEPAs), raising total foreign trade to over AED5tn ($1.4tn). 'Through the National In-Country Value (ICV) Programme, which supports the industrial sector by redirecting procurement to local products and services — local spending has reached a cumulative AED347bn ($94.5bn), and over 22,000 job opportunities have been created for Emiratis. 'In line with the leadership's directives to strengthen bridges of cooperation, we also launched the Industrial Partnership for Sustainable Economic Development with Jordan, Bahrain, Egypt, Morocco, Qatar, and Türkiye. 'This collaboration has advanced regional supply chain integration through joint projects worth $5bn ($1.4bn) in sectors of mutual importance. 'In implementation of the directives of His Highness Sheikh Mansour bin Zayed Al Nahyan, Make it in the Emirates has been enhanced to support national industrial growth further. 'This year's edition features several strategic initiatives, most notably, increasing the value of offtake opportunities from AED143bn ($39bn) to over AED168bn ($45.7bn) over the next ten years, an increase of AED25bn ($6.8bn) compared to last year, to localise over 4,800 products within the country. The event will also witness the launch of the Emirates Growth Fund under Emirates Development Bank as an AED1bn ($272m) investment platform. The fund aims to empower SME projects in strategic sectors including manufacturing, healthcare, food security, and advanced technology by providing long-term capital and the strategic support necessary for sustainable growth and effective expansion; offering competitive financing solutions exceeding AED40bn ($10.9bn) over five years from national banks, including: Emirates Development Bank First Abu Dhabi Bank Mashreq Bank Emirates NBD Abu Dhabi Commercial Bank Abu Dhabi Islamic Bank Wio Bank The event also offers more than 1,200 job opportunities for Emiratis through the Industrialist Career Fair, in collaboration with the Nafis program and several national companies. Furthermore, a special pavilion has been dedicated to Emirati crafts and heritage industries to support our industrial heritage and national culture in line with the 'Year of Community', featuring 216 artisans. In addition, several major announcements are set to be made in the coming days. Al Jaber said: 'The UAE offers world-class infrastructure, a strategic location connecting East and West, flexible legislation, advanced cybersecurity, competitive energy costs, a high quality of life, skilled global talent, specialized industrial cities and top-ranked ports, airports, and logistics networks that enable our products and exports to reach more than three billion people. 'Most importantly, the UAE is known for its solid reputation for trust and credibility. We must harness these advantages and expand globally. 'We invite local and international investors to capitalise on UAE's status as a preferred investment destination as well as the opportunities at Make it in the Emirates to form long-term, high-value partnerships. 'We also call on public and private sector entities to support local industry through the National ICV Programme – boosting competitiveness, improving productivity, and ensuring supply chain resilience. 'In line with our leadership's directives to empower future generations, we encourage our youth to join the industrial sector through employment or entrepreneurship. 'The UAE offers everything you need to succeed and pioneer the industries of tomorrow. Every factory we build and every machine we operate is a new hope and a step forward in our nation's journey, ensuring that the Made in the Emirates mark continues to stand as a symbol of quality, excellence and a shared source of national pride'.
The Guardian
16-05-2025
- Business
- The Guardian
UAE delegation visited No 10 before law change that paves way for stake in Telegraph
A delegation from the United Arab Emirates met Downing Street officials weeks before ministers announced a law change that allows the state to take a 15% stake in the Telegraph titles, the Guardian understands. Ministers disclosed the cap this week as part of a long-awaited clarification on the rules around state ownership of British newspapers. It is higher than the 5-10% ceiling envisaged by the previous Conservative government. It has now emerged that a few weeks earlier in March, a senior Emirati delegation held a meeting in No 10 with officials including Varun Chandra, the business adviser to Keir Starmer. While details of the meeting are unknown, it is understood the delegation sought clarity on the state ownership law. Downing Street and IMI declined to comment. The UAE government has been approached for comment. The move effectively paves the way for the United Arab Emirates to take a 15% stake in the Telegraph, most likely through the IMI investment vehicle backed by Abu Dhabi. The law change ends a lengthy consultation involving intensive lobbying by newspaper owners. It is also a sign of Downing Street's desperate search for economic growth and determination to make the UK an attractive place for overseas investment. However, the decision has come under attack from MPs and industry figures for opening up the British media to more state ownership. Fraser Nelson, a former editor of the Spectator and current Times columnist, described the decision as an 'indefensible sellout, in defiance of parliament's vote to protect press freedom'. Andrew Neil, a former Sunday Times editor, said Lisa Nandy should lose her job over the decision. The Liberal Democrats are also opposing the new law and will launch an attempt to block it in the House of Lords with a so-called 'fatal motion'. The tactic is likely to split the Conservative party. Max Wilkinson, the Lib Dem culture spokesperson, said the plan put editorial independence 'at risk'. 'It's a plan we wholeheartedly reject,' he said. 'No 10 must come clean on their meeting with UAE delegates, and clarify whether they were lobbied to roll back on what parliament agreed last year.' Should the law change go through as expected, it marks the beginning of the end for the Telegraph's ownership saga, which has rumbled on for two years. The Telegraph titles were originally bought by RedBird IMI, a UAE-backed venture that was blocked from taking control by the last government. Under the new law, RedBird Capital, a US private equity firm, is expected to buy the Telegraph, with 15% of the money coming from IMI, which is linked to Sheikh Mansour bin Zayed Al Nahyan, the Emirati royal. RedBird is also said to be talking to other possible British investors in the deal. A mooted attempt to buy the Telegraph by the Chelsea FC owner and chair Todd Boehly and the Fleet Street veteran David Montgomery has not materialised. While there has been significant interest in the Telegraph from other groups, the asking price of £500m has proved too high for most. In 2023, Lord Rothermere's Daily Mail and General Trust had been involved in talks with Qatari investors over a potential bid, but subsequently pulled out. However, the peer still has contacts in the region. This week, Rothermere was among the high-profile media figures spotted in Doha meeting president Trump and the Qatari emir, Tamim bin Hamad Al Thani. His group's events business is understood to be prominent in the region. Others in the party included Piers Morgan, who now owns and runs his own YouTube channel, and Patrick Soon-Shiong, the medical investor and Los Angeles Times owner. Industry sources said that the UAE delegation was not the only group to have been seeking clarity on the laws around media ownership by foreign states. Other media groups were also said to have concerns over a ban on state ownership, or a very low ceiling on such ownership. It is a sign of the financial strains the media world is under, as print sales decline and the digital revolution has brought huge change, with previously different kinds of media groups now competing with each other online. The development of AI is also seen as an opportunity as well as a threat by media executives, and the Gulf states have significant money to invest.
Al Jazeera
15-05-2025
- Business
- Al Jazeera
Trump hails growing ties with UAE on last leg of Gulf tour
President Donald Trump has hailed deepening ties between the United States and the United Arab Emirates and said that the latter will invest $1.4 trillion in the former's artificial intelligence sector over the next decade. 'I have absolutely no doubt that the relationship will only get bigger and better,' Trump said on Thursday at a meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan, on the final leg of his three-day tour of the Gulf region that saw him strike a series of lucrative tech, business and military deals that he said amounted to $10 trillion. Sheikh Mohammed said the UAE remained 'committed to working with the United States to advance peace and stability in our region and globally'. The deal with UAE is expected to enable the Gulf country to build data centres vital to developing artificial intelligence models. The countries did not say which AI chips could be included in UAE data centres. Nvidia CEO Jensen Huang had earlier been seen in conversation with Sheikh Mohamed and Trump. The AI agreement 'includes the UAE committing to invest in, build, or finance U.S. data centres that are at least as large and as powerful as those in the UAE,' the White House said. Reporting from Doha in Qatar, Al Jazeera's Hashem Ahelbarra said such a deal had been 'a national security concern' for Washington in the past. 'But then they decided to change their mind under Trump, particularly when the UAE said that it was willing to invest $1.4 trillion,' he said. Ahelbarra said the deal was a 'significant step' for the UAE, positioning it as 'the most important player in artificial intelligence, followed by Saudi Arabia'. Before his departure for the UAE, Trump said in a speech to US troops at the Al Udeid Air Base southwest of Doha in Qatar that defence purchases signed by Qatar on Wednesday were worth $42bn. Other agreements signed during Trump's four-day swing through the Gulf include a deal for Qatar Airways to purchase up to 210 Boeing widebody jets, and a commitment from Saudi Arabia to invest $600bn in the US and to buy $142bn worth of US arms. The tour also brought a flurry of diplomacy, with Trump saying in Qatar on Thursday that the US was getting close to securing a nuclear deal with Iran. On Tuesday, he said the US would remove longstanding sanctions on Syria. Trump said he would probably return to Washington on Friday, although he said it was 'almost destination unknown because they'll be getting calls 'Could you be here? Could you be there?'' Trump had previously hinted that he could stop in Istanbul for talks on the Russia-Ukraine war.
