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UAE Cabinet approves UAE strategy of advanced industries


Source: WAM

ABU DHABI, 24th December, 2019 (WAM) -- The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved the UAE strategy of advanced industries, mainly those that are in line with the fourth industrial revolution and its applications, with the aim of promoting industrialisation and fourth industrial revolutions applications across the sectors.

The strategy seeks to encourage business sector to adopt a strategy to develop futuristic industries and advanced technologies, and promote the competiveness of local industry on the global level, and to move into clean and sustainable industry, as well as attract talents and create jobs for UAE citizens.

The strategy is based on six pillars including a balanced development across the various region of the country, flexibility in planning and policies, integration between the various emirates of the country in term of abilities and industrial and logistic services, commitment to improve quality of life, supporting innovation to increase efficiency and reduce cost, developing advanced skills industries.

The industrial sector contributed 8.9 percent to local GDP in 2018, with industrial sector’s exports reaching 20 percent. The industrial sector employs 9 percent of total workforce as of 2017, the third largest employers with 460,000 job opportunity.