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The Abu Dhabi government will allocate 10 billion dirhams ($2.7 billion) as part of a strategy to expand the UAE capital’s manufacturing sector and boost non-oil exports.
The capital will be invested across six “transformational programmes” that will more than double the size of the emirate’s manufacturing sector to 172 billion dirhams, according to the Abu Dhabi Media Office on Thursday.
The investment is also expected to increase non-oil exports by 148 percent to 178.8 billion and create 13,600 vacancies for jobseekers, particularly UAE nationals, by 2031.
The UAE launched last year Operation 300bn, a strategy that seeks to expand the GDP contribution of the industrial sector from 133 billion dirhams to 300 billion dirhams by 2031. As part of the strategy, several programmes and initiatives will be rolled out to support 13,500 industrial small and medium enterprises (SMEs).
(Writing by Cleofe Maceda; editing by Seban Scaria)