By Courtney Trenwith
The emirate is preparing a strategy to attract $70bn in new investments in the sector
Abu Dhabi is preparing to launch an industrial strategy that will include numerous new projects to invest in the sector, helping to make the emirate a capital of the Fourth Industrial Revolution, according to Badr Salim Sultan Al Olama, the CEO of state-owned composite aerostructures firm Strata Manufacturing.
The strategy was revealed ahead of the Global Manufacturing and Industrialisation Summit (GMIS). Al Olama is head of the event’s organising committee.
GMIS is considered to be the first global gathering of top stakeholders in the industrial sector, including government corporations, private companies and decision makers.
The location was chosen to dedicate Abu Dhabi as the capital of the Fourth Industrial Revolution, Al Olama told state news agency WAM.
Investments in the UAE’s industrial sector totalled about $37.6bn in 2016, according to the federal Minister of Economy Sultan bin Saeed Al Mansouri.
The minister said the UAE government was seeking to attract $70bn in new industrial investments by 2025.
Al Olama said the UAE had proven its ability to build a diverse industrial base using the most superior technologies and capable of being a major contributor to industries including aircraft manufacturing, semiconductors, metals and renewable energy.
"The high quality of our products and human cadres are known for promoting the UAE reputation at the global level," Al Olama said.
"There is no doubt that the GMIS will place the UAE in the middle of world’s efforts exerted for building a better future for the coming generations.”
This summit, to run until March 30, will focus on six main areas: technology and innovation, world value chains and skills, employees and education, sustainability and environment, infrastructure, and conformity between the authorities related to the industrial sector.