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UAE unveils new strategy to boost industrial and production sectors

Person, Human, Shoe Twitter/@HHShkMohd
Sheikh Mohammed says the programme aims to bring a paradigm shift in the automation of the industry

The UAE has launched a national programme to accelerate the pace of the technological transformation in its industrial and production sectors by developing 1,000 projects, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said in a tweet.

The programme includes establishing national centres for industrial empowerment with plans to export AED 15 billion ($4.1 billion) worth of advanced local technological products a year.

“Our goal is a paradigm shift for the automation of the industry,” Sheikh Mohammed stated.

Dr Thani Al Zeyoudi, UAE minister of state for foreign trade, said in July that the country is looking to compete against the world’s most popular cities for international businesses by offering incentives to attract 300 digital companies to set up offices over the next year.

As part of the NextGenFDI initiative, the UAE Ministry of Economy has signed partnerships with seven entities to expedite the incorporation process for digital companies.

Among the incentives offered are a streamlined visa process, faster access to the banking system and better access to capital.