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Tue 27 Dec 2016 01:35 PM

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Dubai Crown Prince urges acceleration of $45bn industrial revolution

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum issues directives to speed up Dubai Industrial Strategy

Dubai Crown Prince urges acceleration of $45bn industrial revolution
Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashed al-Maktoum. (AFP/Getty Images)

Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has issued directives to intensify efforts to accelerate the implementation of the Dubai Industrial Strategy, which is projected to increase Dubai’s total GDP by AED165 billion ($44.9 billion) by 2030.

He directed all the teams involved in the implementation of the strategy to join hands to drive the implementation at the start of 2017.

Sheikh Hamdan said: “Strengthening creativity and innovation in various industrial areas is one of the key elements of the Dubai Industrial Strategy, which is in line with our quest to consolidate the foundations of a sustainable dynamic economy based on research, knowledge and development.

"This can help achieve the goal of making Dubai a unique investment destination, especially as we already have the basic drivers and capabilities needed to achieve such a goal, including efficient and reliable infrastructure and legislative frameworks, which are continuously subject to improvement and development.

"All these elements will take the industrial sector into a new phase that is compatible with the aspirations and vision of our country to maximise the contributions of this vital sector in the post-oil era.”

The Crown Prince's call was immediately answered by the General Secretariat of the Executive Council which confirmed that it has begun to implement the directives by organising a series of meetings and workshops with the entities executing the strategy.

Abdullah Al Shaibani, secretary general of the Executive Council of Dubai, said the strategy entered the implementation phase in September 2016 with six specialised work teams operating in sub-sectors including Aerospace, Maritime, Pharmaceuticals and Medical Equipment, Aluminum and Fabricated Metals, Food and Beverages and Machinery and Equipment.

"The teams will launch a number of initiatives to drive the growth of the industrial sector in the next few months,” he said.

Objectives aim to increase the total output of the manufacturing sector, to enhance the depth of knowledge and innovation by improving labour productivity and increasing R&D spending to make Dubai a preferred manufacturing platform for global businesses.

The strategy also aims to promote environmentally-friendly and energy-efficient manufacturing by reducing energy consumption and manufacturing pollutants.

Sheikh Hamdan's call comes just days after global consumer goods giant Unilever opened the Middle East's largest personal care products manufacturing plant at Dubai Industrial Park.

The $272 million factory will produce ‘Made in UAE’ labelled products, with 80 percent of them exported to Europe and MENA region.

Spanning 100,000 square metres, the plant is set to deliver the highest output of 100,000 tons per annum of liquid beauty and personal care products a year - approximately 500 million units.