The United Arab Emirates has approved a major new plan to strengthen its industry. The government has launched a National Industrial Resilience Fund worth Dhs1 billion, equal to about $272 million. The goal is to improve supply chains and support local factories. It will also reduce reliance on imports. The decision was made during a Cabinet meeting chaired by Sheikh Mohammed bin Rashid Al Maktoum. The move is part of a wider plan to grow the economy and improve national security.
The new fund will focus on key sectors. It will help local production of more than 5,000 critical products. It will also strengthen supply chains in the country. The fund will support food security and industrial growth. Key sectors include manufacturing, metals, chemicals, medical supplies, pharmaceuticals, advanced technology, and construction materials. It will also help companies use artificial intelligence. AI tools will improve forecasting and risk planning. This will make production more stable and efficient.
Officials say the fund is part of a long term plan to make the UAE a global hub for industry. The country wants to reduce risk from global supply shocks. It also wants to build more local skills and jobs. The plan supports economic diversification away from oil dependence. It also encourages private sector investment in factories and new technology. Experts say this may attract more foreign companies to set up production in the UAE.
Sheikh Mohammed bin Rashid said the UAE is speeding up industrial growth. He said the country is launching the Dhs1 billion fund to build stronger supply chains. He also said the goal is to increase local production. The plan includes wider use of artificial intelligence. He said AI will help improve operations and planning. The leadership wants a strong and self-reliant economy. The focus is to reduce risks from global supply changes.
The Cabinet also made changes to the National In-Country Value Programme. It is now mandatory for government bodies and state linked companies. This will push more buying of local products. It will also support local businesses and jobs. The aim is to strengthen national industry. The UAE also plans to localise over 5,000 products in total. Officials say this will improve supply security and reduce import dependence. The plan supports long term economic stability.
A new policy will also increase visibility of UAE-made products. These goods will be promoted in shops and online platforms. The first phase will focus on essential items. These include bottled water, dairy products, eggs, poultry, bread, flour, vegetable oils, and fresh produce. The goal is to make local products more available to people. This will help local farmers and manufacturers grow.
Small and medium enterprises are expected to play a key role in this plan. They make up a large share of exhibitors at national events. The government is giving more support to help them grow. This includes easier access to funding and new technology tools. Experts say SMEs will help increase innovation and job creation. They are also important for building a flexible and strong industrial base.
The Cabinet also reviewed preparations for the Make it in the Emirates event. It will take place in Abu Dhabi from May 4 to May 7. The event will bring more than 120,000 visitors. It will also host over 1,000 exhibitors from 12 industrial sectors. Many small and medium businesses will join. A new Start ups Hub and Quality Infrastructure Platform will also be launched. A new industrial museum will show the country’s industrial history.
A new National Industrial Data Committee has also been formed. It will improve access to industrial data. It will also help connect systems across the country. This will support faster decisions using real time information. Officials say all these steps will build a stronger and more competitive industry. They also aim to increase economic growth and support future innovation.
Officials believe these combined steps will strengthen the UAE economy for the future.
