Government enterprises and private companies in the UAE pledged an additional $6.26 billion to local manufacturing during the Make it in the Emirates (MIITE) Forum. The forum, organized by the Ministry of Industry and Advanced Technology (MoIAT), featured a series of announcements, including a commitment of $820 million to purchase locally manufactured medical equipment.
These commitments build upon the previous editions of the forum, resulting in a total value of $38.93 billion, encompassing 2,000 locally manufactured products. These initiatives are part of a comprehensive strategy announced at MIITE to promote economic self-sufficiency and attract investment to the UAE, with 82 agreements signed in support of Operation 300bn.
MIITE also saw the announcement of industrial projects and investments exceeding $5.44 billion, such as the launch of the UAE’s first microalgae producer with a $12 million investment, and a $100 million investment by UK-based Levidian to establish a new Regional Delivery Centre in Abu Dhabi.
Furthermore, the AI Innovation Programme was introduced by MoIAT, with a backing of $100 million in financing from Emirates Development Bank (EDB) and a co-lending support worth $272 million from EDB and commercial banks. Another initiative, Transform 4.0, aims to create 100 Industry 4.0 lighthouses over the next three-to-five years.
In his remarks, Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, emphasized the significance of the Make it in the Emirates Forum in accelerating the UAE’s industrial sector. Highlighting the substantial growth of the industrial sector's contribution to GDP by 49 per cent to Dh197 billion in just three years, he underscored the country's emergence as a global hub for industrial investment and innovation, attracting leading global entities and top talents. The announcements made during the forum are poised to bolster national resilience in critical sectors such as energy, healthcare, and food, while presenting lucrative investment prospects for companies looking to capitalize on the value generated by Operation 300bn.
