During the Make it in the Emirates forum, Dr. Sultan bin Ahmed Al Jaber, the Minister of Industry and Advanced Technology, emphasized the UAE's tenacity amid both regional and global hurdles. He attributed this resilience to the visionary leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the unity amongst the Emirati populace.
In his opening remarks for this significant fifth edition of the forum, he unveiled AED 180 billion worth of industrial procurement initiatives aimed at localizing over 5,000 products across critical sectors, including economy, food, and healthcare.
Highlighting the transformation of challenges into prospects, Dr. Al Jaber reiterated that the nation remains committed to cultivating a robust industrial framework. He pointed out that resilience, economic self-sufficiency, and growth in industry are integral components of the UAE's long-term vision.
Thanks were also extended to the UAE Armed Forces, frontline workers, and various national institutions for ensuring stability during period of troubles.
Robust Industrial Sector Expansion
The minister noted the remarkable growth within the UAE's industrial sector, which has ballooned to AED 200 billion—representing a 70% increase since 2021. Industrial exports soared to AED 262 billion, of which AED 92 billion stemmed from advanced industries.
This progress affirms that the UAE’s industrial roadmap is yielding positive outcomes.
The National In-Country Value (ICV) Program has been pivotal in this advancement, fostering local industries and investments.
Expanded Investment and Opportunities
The overall measure of industrial procurement chances surged from AED 168 billion to AED 180 billion for the coming decade.
This forum follows the fruitful Make it with ADNOC event, which earmarked over AED 200 billion in upcoming projects over the next two years, alongside the debut of the “Local+” initiative designed to bridge contractors with 70 Emirati manufacturers.
Economic Resilience and Global Trade Implications
Dr. Al Jaber asserted that economic security must be rooted domestically and cannot rely on foreign imports. He cautioned that interruptions in international trade routes could have widespread repercussions.
Discussing the Strait of Hormuz, he stressed the importance of unimpeded navigation, as it is vital for global economic health.
UAE's Energy Strategy Adjustment
Furthermore, he addressed the UAE’s strategic repositioning within the international energy sector, including its exit from OPEC and OPEC+. He regards this as a decisive maneuver to bolster national interests while enhancing investment prospects.
The UAE intends to maintain its responsible role in the global energy framework while gaining increased flexibility.
AI's Role in Revolutionary Change
Dr. Al Jaber proclaimed that artificial intelligence is poised to play a transformative role in the future of industries across the UAE, acting as an “industrial brain” to optimize factory operations, efficiency, and decision-making.
UAE as a Premier Investment Hub
He welcomed global investors and manufacturers to consider the UAE for investments, citing its favorable business environment, advanced infrastructure, and global connectivity.
The private sector is urged to amplify domestic investments, deemed crucial for ensuring long-term economic welfare.
Vision for the Future
Dr. Al Jaber concluded by stating that future economies will hinge on three foundational pillars: energy, technology, and industry. Nations that adeptly combine these elements will spearhead global advancements.
His message was clear:
“Collaborate with us. Invest with us. Make it in the Emirates.”
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