The UAE has announced a programme that seeks to boost the country's manufacturing economic output to Dh300 billion (over $80 billion), more than double current levels. The strategy includes establishing 13,500 new industrial companies and Dh57bn of investment in research and development. The overall aim is to create jobs, stimulate innovation, boost competitiveness and build strategic resilience by increasing the nation's domestic manufacturing capacity.
As part of the industrial strategy, products manufactured in the UAE will fall under a unified industrial brand identity for which the slogan "Make it in the Emirates" was also launched on Monday. "Make it in the Emirates" aims to create a sense of pride in locally made products, so that the "Made in UAE" label on a product motivates people around the world to buy it for its superior quality. This is another important aspect of the overall push to make the country's manufacturing base as competitive as possible on the global stage.
An economic reorientation of this magnitude will become all the more significant after the Covid-19 pandemic, although it is more than a response to the pandemic's effects on the global economy. It is a response to larger-scale changes that have been occurring in manufacturing sectors around the world.
Rental increases in Dubai are covered by Decree Number 43 of 2013. This decree outlines by how much a landlord can increase a property’s rent at contract renewal, after serving the 90-day notice in writing. Getty Images
Without action the Middle East risks becoming a region that is left behind by this new world order
Globalisation and specialisation are inevitable outcomes of a technologically advanced world. However, domestic manufacturing is vital for economic diversification, competitiveness and developing domestic talent.
Operation 300bn, as the new UAE strategy is known, aims to build a local value chain that is firmly rooted in future-oriented industries. Aside from the obvious benefits to the Emirati economy and the UAE’s position as a global economic hub, it can help to distribute the rewards of the technological revolution to regional neighbours, through knowledge transfer, private investment and trade deals.
The UAE’s prime location for trade is a powerful factor. Geography still matters for manufacturing, even in the age of remote working. UAE airports are a single short-haul flight away from a large number of the world's most rapidly developing economies. In the coming years, these countries are expected to see the steepest growth in their middle classes – a total global rise of an estimated 2 billion people by 2030 – and, therefore, demand for consumer goods.
The prioritisation of knowledge transfer and production, a cornerstone of Operation 300bn, is key. The country has taken major steps in recent years to instil that principle in economic policy, by turning the Emirates into a more open and dynamic place for people from all over the world to live and work. Fostering openness as the country develops a world-leading manufacturing sector not only secures its future, but also gives a greater share of the global population a stake in the technological revolution.
Operation 300bn is a scheme that understands the need to respond to tremendous change, with an equally tremendous strategy.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023 More than 3.5 million Indians reside in UAE Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Super Saturday results
4pm: Mahab Al Shimaal Group 3 | US$350,000 | (Dirt) | 1,200m
Winner: Drafted, Pat Dobbs (jockey), Doug Watson (trainer).
4.35pm: Al Bastakiya Listed | $300,000 | (D) | 1,900m
Winner: Divine Image, Brett Doyle, Charlie Appleby.
5.10pm: Nad Al Sheba Turf Group 3 | $350,000 | (Turf) | 1,200m
Winner: Blue Point, William Buick, Charlie Appleby.
5.45pm: Burj Nahaar Group 3 | $350,000 | (D) | 1,600m
Winner: Muntazah, Jim Crowley, Doug Watson.
6.20pm: Dubai City of Gold Group 2 | $300,000 | (T) | 2,410m
Winner: Old Persian, William Buick, Charlie Appleby.
6.55pm: Al Maktoum Challenge Round 3 Group 1 | $600,000 | (D) | 2,000m
Winner: Capezzano, Mickael Barzalona, Salem bin Ghadayer.
7.30pm: Jebel Hatta Group 1 | $400,000 | (T) | 1,800m
Winner: Dream Castle, Christophe Soumillon, Saeed bin Suroor.
Cryptocurrency Investing for Dummies – by Kiana Danial
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Available at Magrudy’s , Dh104
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11 What time: Each day’s play is scheduled to start at 2pm UAE time. TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
