The UAE is working to support the domestic manufacturing industry's growth through various initiatives, offering financing tools and developing the regulatory framework to boost its competitiveness, said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology.
The Emirates seeks to become a global destination for industrial investments with a strategy based on creating value, innovation, sustainability, future foresight and boosting competitiveness, he said on Thursday while visiting Khalifa Industrial City (Kizad).
"We are working to stimulate national factories and industries through various initiatives and financing solutions that support growth, and we are continuing to develop procedures and review policies and the legislative and regulatory structure to stimulate the industrial sector to enhance its competitiveness," he said.
"The Ministry of Industry and Advanced Technology is keen to follow up on all industrial projects and support their success and expansion, through communication with all relevant partners in the industrial sector to learn about their needs and requirements."
Dr Al Jaber's visit to Kizad is part of a series of tours by the minister to inspect the performance of industrial facilities in the country and to discuss ways to motivate investors to take advantage of the benefits offered by the UAE.
The UAE's industrial strategy includes an attractive business environment, a stimulating work system for establishing and developing industrial projects and closer co-operation with various parties to develop procedures and incentives related to the industrial sector, the ministry said.
The UAE, the Arab world’s second-largest economy, plans to increase the contribution of the industrial sector to its gross domestic product in the next 10 years to create jobs and attract investment.
Last year, the UAE announced Operation 300bn, which aims to more than double the contribution of the industrial sector to economic output to Dh300 billion ($81.68bn) by 2031, from Dh133bn in March 2021.
Kizad is an integrated commercial, industrial and logistic centre in Abu Dhabi, operating under the umbrella of the Economic Cities and Free Zones Sector of Abu Dhabi Ports Group and contributing to strengthening the industrial sector by helping its products to access global markets comprising 4.5 billion consumers worldwide.
"Today we are witnessing living examples and major developments in Kizad and its ability to attract quality industrial investments," Dr Al Jaber said. "Kizad provides a supportive environment for global industrial projects, which is a major tool for growth, development and prosperity.”
During his visit, the minister was briefed on the efforts of some Kizad-based companies including The National Food Products Company, which is one of the largest companies in the region for the wholesale food trade and related logistics.
He also heard about the plans and operations of Al Tala Board Manufacturing Company, which operates a factory that produces high quality wood boards through recycling palm tree waste using innovative technologies.
Kizad provides a supportive environment for global industrial projects, which is a major tool for growth, development and prosperity
Dr Sultan Al Jaber,
Minister of Industry and Advanced Technology
Mohamed Al Shorafa, chairman of Abu Dhabi Department of Economic Development, who accompanied Dr Al Jaber, reiterated Abu Dhabi's commitment to further develop the industrial sector to strengthen its non-oil sectors.
"The industrial sector is witnessing substantial shifts, particularly with manufacturing industries based on advanced technologies," Mr Al Shorafa said.
"Kizad has been a major catalyst in developing projects that are adopting industry 4.0 applications and solutions. Strategically located near Khalifa Port, Kizad provides unique solutions, reflecting Abu Dhabi’s capability to attract investments and launch innovative projects with world-class services and products."
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1. Pascal Ackermann (GER) Bora-Hansgrohe, in 3:29.09
2. Caleb Ewan (AUS) Lotto-Soudal
3. Rudy Barbier (FRA) Israel Start-Up Nation
4. Dylan Groenewegen (NED) Jumbo-Visma
5. Luka Mezgec (SLO) Mitchelton-Scott
6. Alberto Dainese (ITA) Sunweb
7. Jakub Mareczko (ITA) CCC
8. Max Walscheid (GER) NTT
9. José Rojas (ESP) Movistar
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What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
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One in nine do not have enough to eat
Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.
One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.
The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.
Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.
It is currently estimated that one in nine people globally do not have enough to eat.
On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.
Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.
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UAE currency: the story behind the money in your pockets