DUBAI, 30th March, 2022 (WAM) — H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, affirmed that the UAE leadership, headed by the President His Highness Sheikh Khalifa bin Zayed Al Nahyan, attaches critical importance to supporting citizens to benefit from the industrial development witnessed by the country as well as from the upcoming ambitious industrial projects.
During a session held at the World Government Summit 2022 entitled “Comprehensive Industrial Ecosystems: Driving National Growth”, His Highness Sheikh Mansour discussed the most important pillars and priorities for the UAE’s strategy to develop national industrial capacity to drive leadership in this vital sector.
His Highness Sheikh Mansour said that this session confirms the importance of the industrial sector, as one of the country’s most important pillars, especially after the global pandemic. The spread of COVID-19 increased the demand for local industrial output and local products, which drove an increased focus and capacity in the nation’s industrial sector and its productivity.
His Highness said, “10 years ago, the share of the industrial sector in the United Arab Emirates’ GDP was approximately 8%… Today this number has increased by just 1% to 9%. This reflects the urgent and vital need to provide more support to the industrial sector and industrial projects. This is driving the UAE’s leadership to a sharp focus on the national industrial sector, its development and ambitious projects.”
His Highness added, “We must benefit from the confidence of the countries we cooperate with, in the UAE. Our commitment in the fields of industrial investment should be built on clear foundations, the most important of which is trust. Politics should not be inserted in partnerships and agreements, but instead, investments should be based on the mutual economic interests shared by our .”
Also, His Highness pointed out that the UAE is concentrating during this stage on developing its strategic partnerships in knowledge exchange and the transfer of early industrial technologies.
Regarding the role of the Emirati people, His Highness Sheikh Mansour called on all citizens of the UAE to contribute to the march of industrial development during the coming decade. His Highness said: “Supporting local industry requires qualifying a productive citizen who is able to work professionally. This requires raising the level of education and enhancing openness toward foreign investment during the next stage.”
His Highness Sheikh Mansour bin Zayed highlighted the UAE’s elements of commercial, economic and investment attractions, stressing that the UAE is working to attract investments from Arab countries, GCC countries and all over the world. Adding that the UAE’s concentration on a series of pivotal industrial sectors, including food, medication and defence, is based on its strategic importance as main pillars of the national economy.
“The UAE has partnerships with important countries in the field of foodstuffs. The construction of factories, the transfer of expertise, knowledge and techniques necessary to operate and manage factories has already begun. In the pharmaceutical industry, many manufacturing facilities have been built, and the best example of this is the manufacture of vaccines in the country and many drugs that meet a great demand. We are focusing on exporting Emirati products to a number of export markets, and investors’ confidence in the Emirates as a destination for their investments is strong and growing.” His Highness stated.
His Highness Sheikh Mansoor concluded, “The UAE offers a transparent and reliable economy ec… As we support the investment environment in all its forms and cooperate with investors, the legal infrastructure, investment climate and opportunity are clear, and we are constantly developing the legislative environment to embrace growth in investment and new market opportunities.”