A senior delegation from the UAE, led by officials from the Ministry of Industry and Advanced Technology (MoIAT), are set to participate in global discussions on the future of manufacturing as the world transitions towards net zero carbon emissions at the Global Manufacturing and Industrialisation Summit (GMIS) America this week.
The delegation will present the UAE's business environment and competitive advantages and incentives that make it attractive to foreign investors, manufacturers, innovators and small and medium enterprises, MoIAT and GMIS said in a joint statement on Tuesday.
Emirati experts will also share their perspectives on advancing sustainable manufacturing practices and the global energy transition.
Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, will deliver a recorded keynote address highlighting the UAE’s commitment to sustainable industrialisation, strengthening UAE-US trade ties, and stimulating cross-border collaboration through the UAE’s national strategy for industry and advanced technology and the 'Make It in the Emirates' campaign.
“GMIS America provides a platform to showcase the UAE’s exceptional value proposition to international businesses and the promising investment opportunities within the UAE’s industrial sector," said Omar Al Suwaidi, undersecretary of the MoIAT.
"It’s also an ideal event to present the unprecedented incentives it offers to local and foreign industrial investors, in a way that guarantees a conducive environment with advanced legislation and infrastructure that enables their products to access regional and global markets."
The UAE last year launched the Operation 300bn strategy to position it as a global industrial hub by 2031. The 10-year comprehensive road map focuses on increasing the industrial sector's contribution to the country's gross domestic product to Dh300 billion ($81.68bn) in 2031 from Dh133bn in 2021.
The strategy focuses on boosting production in 11 priority sectors, supporting the growth of national industries, attracting foreign investment, modernising legislation and ensuring availability of dedicated financing for local industrial companies.
The country has also launched the Make it in the Emirates initiative, which seeks to transform the nation into a manufacturing powerhouse.
Abu Dhabi also announced in June that it would invest Dh10bn across six industrial programmes to more than double the size of the emirate’s manufacturing sector to Dh172bn by 2031.
This will be done by increasing access to financing, further improving the ease of doing business and attracting foreign direct investment.
UAE leaders announce plans to boost local manufacturing
“The Ministry of Industry and Advanced Technology continues to drive the UAE's national industrial strategy, focusing on cross-border collaborations and developing partnerships in line with the UAE leadership's vision to enhance international co-operation and drive industrial progress," Mr Al Suwaidi said.
"It works to establish an attractive business environment for local and international investors, positioning the UAE as a leading global destination for industries of the future."
GMIS, a joint initiative between the UAE and the UN Industrial Development Organisation, intends to build bridges between manufacturers, governments, NGOs, innovators and investors to help shape the future of manufacturing.
GMIS America, which takes place at Pittsburgh from September 28–30, will feature keynotes, fireside chats and panel sessions to accelerate the simultaneous advancement of the green and digital agendas.
The programme agenda will discuss the application of Fourth Industrial Revolution technologies, such as artificial intelligence, edge computing, industrial internet of things and nanotechnology towards advancing the global energy transition and industrialisation, the statement said.
The event will also host site visits to advanced tech centres and industrial facilities in Pittsburgh to showcase the latest technology solutions and encourage cross-sectoral collaboration and investment opportunities.
The event is hoped to create more partnerships between the US and the UAE "that will spur greater strategic ties and bilateral relations between the two nations", Mr Al Suwaidi said.