Operation 300bn, the UAE’s industrial strategy

Operation 300bn aims to develop the UAE’s industrial sector and enhance its role in stimulating the national economy. It aims to raise the industrial sector’s contribution to the GDP from AED 133 billion to AED 300 billion by 2031. The strategy is aligned with national goals and international commitments relating to advancing sustainable economic growth, deploying clean energy solutions, driving industrial innovation and promoting responsible consumption and production.

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About the strategy

The strategy of the Ministry of Industry and Advanced Technology (MoIAT) also known as Operation 300bn, is the largest and most comprehensive plan for developing the UAE’s industrial sector and enhancing its role in stimulating the national economy. The strategy was named Operation 300bn because of its ultimate goal of raising the industrial sector’s contribution to the GDP from AED 133 billion to AED 300 billion by 2031.

The strategy stems from an integrated vision of the ministry to:

  1. develop the UAE’s industrial sector
  2. increase its in-country value (ICV)
  3. establish the UAE as a global hub for future industries
  4. build the reputation of the UAE’s industrial products through the promotion of exports to global markets and
  5. create quality job opportunities in the industrial sector.

The ministry seeks to increase the efficiency and sustainability of the production cycles and supply chains by driving research and development (R&D), establishing a comprehensive system of specifications and standards to create an integrated quality infrastructure for the industrial sector, as well as implementing sustainable industrial policies that reduce resource consumption, and support climate action and carbon neutrality efforts.

Main objectives

The strategy is built on the following 6 objectives:

  1. to create a relevant and attractive business environment for local and international investors in the industrial sector
  2. to support the growth of national industries and enhance their global competitiveness
  3. to stimulate innovation by accelerating advanced technology adoption across the industrial value chain to upgrade systems and solutions, boost productivity and forge competitive advantages in new areas
  4. to build on the solid industrial foundations that have helped fortify the UAE’s position as a global leader in industries of the future
  5. to cultivate a culture of innovation in the ministry
  6. to provide a comprehensive array of administrative services in accordance with the highest standards of quality, efficiency and transparency.

The strategy is built on the following 17 initiatives:

  • establishing an integrated R&D ecosystem
  • positioning the UAE as a pioneering global destination for technology and innovation
  • developing an advanced technology roadmap that drives innovation
  • establishing standards and metrology that support advanced technology adoption
  • catalysing the adoption of the 4IR technology to boost the productivity of anchor industries
  • launching an ICV programme
  • promoting the ‘Made in the Emirates’ brand and national products
  • developing an integrated quality infrastructure
  • negotiating reciprocal trade agreements and work to control the classification system of traded products for export and import
  • modernising the industrial law
  • offering attractive energy and gas tariffs to eligible sectors
  • launching a framework for partnerships with industrial sectors to develop standards and metrology
  • providing flexible financing at competitive costs for priority sectors
  • establishing a digital ministry by 2022
  • advancing digital transformation to simplify registration, licensing and fee procedures
  • building a data management platform.

The ministry focuses on the following 11 vital industrial sectors:

Stimulating growth

  • food, beverage and agricultural technology
  • pharmaceuticals
  • electrical equipment and electronics

Advanced manufacturing

  • increasing productivity, boosting economic contribution and creating job opportunities
  • petrochemicals and chemical products
  • rubber and plastics
  • machinery and equipment

Creating a conducive environment for developing industries of the future

  • hydrogen
  • medical technology
  • space technology.

 

Read related news coverage on WAM.

Read about the UAE’s Unified Industrial Identity – Make it in the Emirates.

For latest updates on the UAE industrial sector, visit the website of Ministry of Industry and Advanced Technology.

Role of Emirates Development Bank (EDB)

Emirates Development Bank (EDB) is a key enabler of Operation 300bn. Under the strategy, the bank allocated a portfolio of AED 30 billion to support priority industrial sectors over a period of five years. The bank will contribute to financing 13,500 SMEs and creating 25,000 jobs in the following sectors:

  • manufacturing: petrochemicals, plastics, heavy industries, machinery, electrical appliances and renewable energy equipment
  • infrastructure: energy, transportation, communications and digital infrastructure
  • technology: software, IT, storage devices, peripherals, renewable energy technology and education technology
  • healthcare: pharmaceuticals, biotechnology, medical equipment and hospital services
  • food security: agriculture, livestock, aquaculture and water desalination.

Contact Emirates Development Bank (EDB) for more information.

Alignment with national goals and international commitments

The objectives of Operation 300bn align with the UAE’s commitments to global climate action as well as the Sustainable Development Goals 2030. Objectives include safeguarding public health, advancing sustainable economic growth, deploying clean energy solutions, driving industrial innovation and promoting responsible consumption and production.

To achieve these priorities, the UAE Cabinet adopted the Circular Economy Policy 2021-2031, a comprehensive framework that guides the country’s efforts to ensure sustainable and efficient use of resources with the aim of preserving them for future generations. MoIAT’s key initiatives within Operation 300bn support these objectives by encouraging the development and adoption of Fourth Industrial Revolution (4IR) applications and advanced technologies to generate significant economic returns, reduce the environmental footprint of the industrial sector and boost its competitiveness.

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Updated On :

29 Oct 2024