Dubai Aims To Become An Industrial Hub In Accordance With The Dubai Industrial Strategy 2030 Vision
Dubai is increasing its efforts to become a global manufacturing and industrial hub and attract major investments in key industries such asutilize technologies aerospace, pharmaceuticals, and medical equipment. These efforts are in line with the Dubai Industrial Strategy 2030, which projects a $5 billion increase in the industrial sector by 2030.
Dubai’s industrial sector has contributed 11-14% to its GDP in the past decade, making it the third largest sector after trade and logistics. It has continued to demonstrate robust growth even during times of global crisis, which is a testament to the various strategic government initiatives and programs, such as the Dubai Industrial Strategy. The vision behind the strategy is to enhance the sector’s global competitiveness and attract foreign investments.
HRH Sheikh Mohammed Bin Rashid Al Maktoum expressed that the Dubai Industrial Strategy aims to utilize the emirate’s modern infrastructure in some ways. One of which is to make the UAE a centre for high-tech industries and a top choice for multinational companies that want to set up shop in a stable and prosperous region. The goal of Dubai’s industrial strategy is to produce more things that are “Made in UAE” in many fields, including healthcare. Because of this, companies from all over the world, like Himalaya Wellness from India, have set up factories and research and development hubs in the city.
Himalaya Wellness is an international producer of pharmaceuticals, herbal remedies, and personal care items. The company has agreed to build a 120 million dirham herbal drug factory in Dubai Industrial City. Dubai Industrial City is one of the largest manufacturing hubs in the region, with commercial production commencing in the first quarter of 2024.
Dubai Industrial City is proud to be one of the biggest industrial hubs in the region. It gives businesses from all over the world a place to grow and take advantage of good business conditions, world-class infrastructure, and unbeatable connections. Since it launched in 2004, Dubai Industrial City has been home to more than 750 companies and hundreds of high-tech factories. These factories utilize technologies from the fourth industrial revolution to produce various things like car parts. Many things have strengthened Dubai’s reputation as a manufacturing and industrial hub. These include how easy it is to do business there, its modern infrastructure and logistics network, how easy it is to get raw materials and packaging materials, and how easy it is to find skilled workers.
The Dubai Industrial Strategy 2030
The goal of the Dubai Industrial Strategy 2030, established in June 2016, is to make the Emirates a global hub for businesses that are based on knowledge, sustainability, and innovation. The strategy also lists six priority sub-sectors: aerospace, maritime, pharmaceuticals and medical equipment, aluminium and fabricated metals, food and beverages, and machinery and equipment.
Conclusion
With the Dubai Industrial Strategy and other efforts by the government to make Dubai a global centre for industry and manufacturing, the UAE is taking another step toward building an economy that is ready for the future. Gradually, it is becoming a place where investors and businesses from all over the world want to do business.
Last Updated on 8 months by News Editor
