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Sheikh Mohammed Introduces A Plan To Boost The Industrial Sector



Sheikh Mohammed Introduces A Plan To Boost The Industrial Sector

In a move that is expected to usher in a technology revolution in the Middle East markets,  His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on 12th October launched a technology transformation program at the national level in priority sectors.

This initiative is part of the strategy developed by the Ministry of Industry and Advanced Technology (MoIAT). Sheikh Mohammed announced the launch of the program in a function held at Qasr Al Watan in Abu Dhabi. 

In his statement, Sheikh Mohammed said that they are launching the national level program to bolster the pace of technological transformation in both the industrial and production sectors.

Sheikh Mohammed Introduces A Plan To Boost The Industrial Sector

According to him, there are 1000 technology projects in the pipeline and they aim to develop them. The program also includes setting up national centers for industrial empowerment and has a goal of exporting advanced Emirati technological products worth  Dhs15 billion in a year.

Sheikh Mohammed Introduces A Plan To Boost The Industrial Sector

One more important objective of this project is to nurture Emirati talent. As per his statement, with this initiative, the nation is aiming for a quantum leap in the automation of the industry.

Sheikh Mohammed went on to add that the implementation of sophisticated technology in industries and projects is a significant step towards developing the national economy by joining hands with the private sector.

The United Arab Emirates continues to be an international center of global repute in the fields of research, development, and innovation in futuristic technologies. 

Sheikh Mohammed emphasized that with state-of-the-art technology, they expect opportunities to fulfill their national priorities and ambitions for the coming fifty years.

He also expressed hope that the launch of the program will pave the way for technology developers, entrepreneurs, and emerging technology companies to perform new experiments on technology in the Emirates and incorporate the same in global transformational projects with an enormous impact that can be experienced.

A large number of high-ranking officials, Sheikhs, and delegates were present at the occasion. At the venue, Dr. Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Sarah Al Amiri, Minister of State for Public Education and Advanced Technology briefed the objectives of the technology transformation program with the help of a presentation.

The program is devised in such a way that it primarily aims to accomplish the goal of contributing AED110 bn to the NDP.

The program will be rolled out by launching the following 5 initiatives.

1. Fourth Industrial Revolution Index

2. Industrial Empowerment Centers

3. Advanced Technology Incentives

4. Future Plant Award

5. Experimental Ecosystem for Testing Advanced Technology

Dr. Al Jaber explained that The Ministry of Industry and Advanced Technology focuses on attaining the vision of the leadership with the development of the industrial sector and accelerating its contribution to the national economy.

He mentioned that the launch of the technology transformation program will lead to major changes in the industrial sector and its impact will be spread to several other sectors as well.

Jaber went on to add that the program was developed based on a slew of initiatives introduced over the last several years.

The top initiatives include the National Strategy for Industry and Advanced Technology; the “Make in the UAE” campaign; the “National Added Value” program; the AED5 billion financing program, a 5-year program that was launched in association with the Emirates Development Bank to extend support for projects with the objective of speeding up sophisticated technology adoption; and the Industry 4.0, the main pillar of Operation 300Bn that aims to boost the digital transformation in the industrial sector.

Content writer and social science researcher with 5 plus years of experience in research. He has published academic and non-academic articles on several online platforms covering wide-ranging subjects. He is also a tech enthusiast, bibliophile, and an avid fan of video games.

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