About the strategy
The Industrial Strategy "Operation 300bn" is a 10-year comprehensive strategy that aims to empower and expand the industrial sector to become the driving force of a sustainable national economy, increasing its contribution to the GDP from the current AED133 billion to AED300 billion by 2031.
Leading the strategy, the Ministry of Industry and Advanced Technology will roll out programmes and initiatives to support 13,500 industrial small and medium enterprises (SMEs).
Focusing primarily on future industries that implement advanced technology and the Fourth Industrial Revolution (4IR) solutions and applications, the strategy will work towards advancing the national economy and contributing to the sustainable development.
It aims to increase the in-country value through improving and promoting local products on a global level and building an attractive business environment for local and international investors to boost productivity. The plan provides a competitive package of facilities and incentives with the aim of positioning the UAE as a global industrial hub that attracts talents, developers and experts from all over the world.
Seeking to maximise the industrial sector’s revenue, Operation 300bn is a nationwide action plan to strengthen enabling mechanisms and tools, and build the most resilient logistical and legislative framework of its kind. The plan provides an unprecedented package of facilities, incentives and customs exemptions with the aim of attracting foreign investments to the industrial sector, creating a world-class industrial ecosystem.
Under the Unified Industrial Brand Identity, the strategy aims to transform the country’s industrial products into a reflection of the UAE’s identity, built on the pursuit of excellence through unified national standards, and highlight the unique features and superior quality of products made in UAE. It also aims to enhance the competitiveness of national products, increase their recognition, encourage demand and promote them internationally.
The industrial strategy "Operation 300bn" pursues four main objectives:
- The first is to create an attractive business environment for local and international investors in the industrial sector through updating the Industrial Law to support local entrepreneurs and attract foreign direct investment.
The law will include flexible conditions to provide opportunities to small and medium-sized companies and industrial enterprises while allowing foreigners to own 100 percent of their industrial establishments. To achieve the first objective, the strategy will also offer financing facilities to priority industrial sectors, develop industrial quality infrastructure to support existing and new local industries as part of a vision that forecasts enablers and mechanisms to address future challenges with the aim of driving sustainable industrial development and enhancing competitiveness.
- The second objective is to catalyse industrial development and stimulate the national economy through launching a programme to enhance in-country value and increase the demand for UAE products with the aim of boosting their contribution to the GDP, increasing their exports and finding new markets for them.
- The third objective is to encourage innovation, and the adoption of advanced technology and Fourth Industrial Revolution (4IR) solutions through setting the advanced technology agenda to accelerate the development of innovative products, taking into consideration all factors that ensure commercial viability. The strategy also looks to design programmes to adopt 4IR solutions to boost the productivity of priority industries as part of the third objective.
- The fourth objective is to create strong foundations to enhance the UAE’s position as a leading global hub for future industries through designing initiatives that establish the country’s status as a leading business and technology hub.
Read related news coverage on WAM
Read about UAE’s Unified Industrial Identity – Make it in the Emirates
For latest updates on the UAE industrial sector, visit the website of the Ministry of Industry and Advanced Technology.