UAE’s Industrial Sector Achieves Remarkable Growth, Contributing AED 205 Billion to GDP

Abu Dhabi, The Gulf Observer: The United Arab Emirates’ industrial and advanced technology sector has made significant qualitative advancements, supported by sustainable infrastructure, flexible legislation, and a robust system of standards and technical regulations that enhance the global competitiveness of Emirati products.

Under the National Strategy for Industry and Advanced Technology, “Operation 300bn,” the industrial sector’s contribution to GDP has risen to 11 percent, reaching AED 205 billion by the end of 2023, according to Omar Al Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technology.

The UAE’s global competitiveness in industrial performance has also improved significantly, ranking 27th globally and 1st in the Arab world on UNIDO’s Competitive Industrial Performance Index (CIP), up from 35th in 2019.

Al Suwaidi highlighted the success of the National In-Country Value (ICV) Programme, which has redirected over AED 73 billion in corporate spending into the national economy by Q3 2024, creating over 19,000 jobs for Emiratis in private sector companies certified by the programme.

Industrial financing has expanded considerably, with AED 19 billion provided by the Emirates Development Bank and other financial institutions. In 2024 alone, AED 9.5 billion was allocated to the sector, including AED 1.1 billion for advanced technology.

The “Make it in the Emirates” Forum has also driven growth, securing AED 143 billion in purchase agreements for locally manufactured products over the next decade, manufacturing contracts worth AED 62 billion, and the production of 300 items valued at AED 7 billion.