About the Strategy
The strategy of the Ministry of Industry and Advanced Technology (MoIAT) is the largest and most comprehensive plan for developing the UAE’s industrial sector and enhancing its role in stimulating the national economy. The strategy bears the name Operation 300Bn, based on its ultimate goal of raising the industrial sector’s contribution to the GDP from AED133 billion to AED300 billion by 2031.
The strategy stems from an integrated vision of the Ministry to develop the UAE industrial sector, increase its in-country value (ICV), establish the UAE as a global hub for future industries, build the reputation of UAE industrial products through the promotion of exports to global markets and create quality job opportunities in the industrial sector.
Emirates Development Bank (EDB) is a key enabler of Operation 300Bn. Under the strategy, the Bank allocated a portfolio of AED30 billion to support priority industrial sectors over a period of five years, which will contribute to financing 13,500 SMEs and creating 25,000 jobs in the following sectors:
- Manufacturing: petrochemicals, plastics, heavy industries, machinery, electrical appliances and renewable energy equipment.
- Infrastructure: energy, transportation, communications and digital infrastructure.
- Technology: software, IT, storage devices, peripherals, renewable energy technology and education technology.
- Healthcare: pharmaceuticals, biotechnology, medical equipment and hospital services.
- Food security: agriculture, livestock, aquaculture and water desalination.
For more information about the bank’s services, please submit an enquiry through https://www.edb.gov.ae/en/contact-us
The objectives of Operation 300Bn align with the UAE’s commitments to global climate action as well as the sustainable development agenda and its goals. These include safeguarding public health, advancing sustainable economic growth, deploying clean energy solutions, driving industrial innovation, and promoting responsible consumption and production. To achieve these priorities, the UAE Cabinet has adopted the UAE Circular Economy Policy 2021-2031, a comprehensive framework that guides the country’s efforts to ensure sustainable and efficient use of resources with the aim of preserving them for future generations. MoIAT’s key initiatives within Operation 300Bn support these objectives by encouraging the development and adoption of Fourth Industrial Revolution (I4.0) applications and advanced technologies to generate significant economic returns, reduce the environmental footprint of the industrial sector and boost its competitiveness.
The Ministry seeks to increase the efficiency and sustainability of the production cycles and supply chains by driving research and development (R&D), establishing a comprehensive system of specifications and standards to create an integrated quality infrastructure for the industrial sector, as well as implementing sustainable industrial policies that reduce resource consumption, and support climate action and carbon neutrality efforts.
The strategy is built on 6 main objectives:
- First Objective: Create a relevant and attractive business environment for local and international investors in the industrial sector
- Second Objective: Support the growth of national industries and enhance their competitiveness
- Third Objective: Encourage innovation and advanced technology adoption across the industrial framework
- Fourth Objective: Help fortify the UAE’s position as a global destination for pioneering industries of the future
- Fifth Objective: Provide a comprehensive array of administrative services in accordance with the highest standards
- Sixth Objective: Cultivate a culture of innovation within the Ministry
On 17 initiatives:
- Establish an integrated R&D ecosystem
- Position the UAE as a pioneering global destination for technology and innovation
- Develop an advanced technology roadmap that drives innovation
- Establish standards and metrology that support advanced technology adoption
- Catalyze the adoption of I4.0 technology to boost the productivity of anchor industries
- Launch an ICV program
- Promote the ‘Made in the Emirates’ brand and national products
- Develop an integrated quality infrastructure
- Negotiate reciprocal trade agreements and work to control the classification system of traded products for export and import
- Modernize the industrial law
- Offer attractive energy and gas tariffs to eligible sectors
- Launch a framework for partnerships with industrial sectors to develop standards and metrology
- Provide flexible financing at competitive costs for priority sectors
- Establish a digital ministry by 2022
- Advance digital transformation to simplify registration, licensing and fee procedures
- Build a data management platform
The Ministry focuses on 11 vital industrial sectors:
- Food, beverage and agricultural technology
- Electrical equipment and electronics
- Advanced manufacturing
Increasing productivity, boosting economic contribution and creating job opportunities:
- Petrochemicals and chemical products
- Rubber and plastics
- Machinery and equipment
- Heavy Industries
Creating a conducive environment for developing industries of the future:
- Medical technology
- Space technology
Through its efforts, the Ministry contributes to the National Industrial Strategy and its initiatives:
- Consolidating the country’s position as a global hub for foreign investment in advanced technology
- Promoting industrial development and increasing in-country value of the industrial sector
- Opening new horizons for the UAE’s industrial sector
- Adopting advanced technologies and I4.0 solutions to enhance the competitiveness of the industry and raise its productivity