2023-05-31 11:04:30
Abu Dhabi Crown Prince Sheikh Khalid bin Mohammed bin Zayed Al Nahyan said that UAE industrial exports reached 175 billion dirhams in 2022, or more than $47.6 billion, with a growth rate of 49 percent compared to 2020.
This came during a speech by the Crown Prince of Abu Dhabi at the “Make in the UAE” forum launched by the UAE government to encourage and encourage companies to develop and manufacture products in the UAE.
The Crown Prince of Abu Dhabi attributed this to the launch of the “National Strategy for Industry and Advanced Technology”, which aims to double the size of the manufacturing sector in the Emirate of Abu Dhabi to reach 172 billion dirhams, or approximately $46.8 billion, by 2031, and to empower the country’s economy and support local products.
“This strategy contributed to achieving important achievements in the industrial and technological sectors, especially in 2022,” he said.
He added that the contribution of the industrial sector to the gross domestic product reached 182 billion dirhams (regarding 49.5 billion dollars) in 2022, compared to 132 billion dirhams (regarding 36 billion dollars) in 2020.
The Crown Prince of Abu Dhabi announced an increase in the purchasing power spending of local companies in the national economy to reach 53 billion dirhams (more than $14.4 billion) in 2022, with a growth rate of 25 percent on an annual basis.
He also announced that the UAE, Egypt, Jordan and Bahrain had reached agreements to implement 9 projects with investments exceeding two billion dollars.
In his speech, he referred to the role of the decree issued by the UAE to regulate and develop the industrial sector, which contributed to facilitating the access of local manufacturers to new markets of more than 2.5 billion consumers.
The first session of the forum contributed to the announcement by leading national companies of their intention to purchase 300 ready-to-manufacture products locally, at a value of 110 billion dirhams, over the next ten years.
The Crown Prince of Abu Dhabi said, “During the first year only, more than 28 percent of the targeted purchase offers were implemented, with a value equivalent to 31 billion dirhams,” which is equivalent to 8.4 billion dollars.
Sheikh Khalid bin Mohammed bin Zayed Al Nahyan announced that this session of the forum will witness an increase in the total value of products targeted for local manufacture to 120 billion dirhams (more than 32.6 billion dollars), announcing more than 30 projects with a total value of more than 6 billion dirhams, and allocating ADNOC 20 billion dirhams (more than $5.4 billion) for procurement of structures and metal products exclusively from national factories, and the provision of no less than 5,000 new job opportunities for citizens in the private sector by 2027, and it will also witness the launch of the “Made in the UAE” brand. », the unified national badge that provides advantages to companies that have obtained it.
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