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UAE’s Plan to Boost the Industrial Sector: Dh40 Billion in Incentives and Investment Opportunities

UAE’s Plan to Boost the Industrial Sector: Dh40 Billion in Incentives and Investment Opportunities
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The UAE leadership is committed to adopting the latest technologies, particularly artificial intelligence, across various industry sectors, stated the Minister of Industry and Advanced Technology.

During the third 'Make it in the Emirates Forum' in Abu Dhabi, the UAE announced over Dh40 billion in incentives, investment opportunities, and initiatives to boost its industrial ecosystem. Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, highlighted the success of the UAE's Operation 300bn initiative, noting a 49% increase in the industrial sector's GDP contribution to Dh197 billion by the end of 2023 and a 60% rise in industrial exports to Dh187 billion.

Dr. Al Jaber announced new projects and incentives, including Dh23 billion in guaranteed offtakes, Dh20 billion in procurement opportunities from ADNOC and Pure Health, and co-lending financial solutions worth Dh1 billion to support SMEs. Additionally, the UAE will offer new electricity tariffs in the northern Emirates and launch an AI innovation program with Dh370 million for technology startups.

The minister emphasized the UAE's focus on adopting advanced technologies, particularly artificial intelligence, to enhance industrial efficiency, streamline production, and optimize supply chains. AI is seen as the backbone of future industrial innovation, promoting smarter, safer, and more sustainable operations.

News Source: Khaleej Times

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