The Council meeting also included a briefing on how the Ministry, working alongside the relevant authorities and stakeholders, will attract investments to drive the Fourth Industrial Revolution in the UAE and accelerate the national development of an advanced industrial sector.
Alongside the Council, the Ministry is working on a framework for legislative measures, initiatives and policies to encourage sustainable growth and enhance in country value.
His Excellency Dr. Sultan Al Jaber highlighted that the Ministry is actively putting in place all the critical enablers to achieve the vision of the leadership and to lay the foundations of a modern infrastructure for advanced industry and the economy of the future. His Excellency explained that the Ministry is committed to fostering entrepreneurship and creating an eco-system to support SMEs – vital components for stimulating economic growth.
H.E Dr Al Jaber said: “Applying the technologies of the Fourth Industrial Revolution will be core to achieving our objectives for the UAE’s industrial sector. While we have already taken great strides in creating an advanced industrial infrastructure, by leveraging technology we will be able to further develop the sector, create greater opportunities for economic diversification and contribute to the achievement of a knowledge economy”.
Her Excellency Sarah Al Amiri, Minister of State for Advanced Technology, emphasized the importance of cooperation, the establishment of specialized working groups, and the optimal use of technology.
Her Excellency said: “The current pandemic has pushed key industries to adopt the latest technologies in order to continue operating efficiently, which is increasing our economy’s readiness to adopt pivotal Industry 4.0 technologies. Deploying key technologies in existing industries will provide the UAE’s economy with a competitive edge.”
During the meeting, members of the ICC also discussed how to improve the UAE’s position in the United Nations Industrial Development Organization (UNIDO) global ranking of industrial competitiveness by streamlining government processes and increasing local content.
They also discussed lessons learned from the implementation of industrial strategies by other countries, agreeing on the importance of continuous dialogue with the private sector and on supporting the growth of industrial SMEs.
About the Ministry of Industry and Advanced Technology
The UAE Ministry of Industry and Advanced Technology, established in July 2020, is mandated with strengthening the UAE’s industrial sector, specifically by drawing on the advanced technology and tools of the Fourth Industrial Revolution.
The Ministry has three overarching goals: Strengthening the UAE’s industrial base, ensuring in country value, and raising the competitiveness of local industries. By enhancing the contribution of advanced technology, the Ministry will support the country’s sustainable economic growth, and ensure GDP contribution from the industry sector.
The Ministry will draft policies, laws and programmes to create a world-class industrial development framework for the nation that will help attract foreign direct investment, boost In-Country Value creation, support national entrepreneurship, drive job creation, and boost exports of ‘Made in UAE’ products.
From encouraging the establishment of industrial complexes to raising local capacity in advanced technology, the Ministry will accelerate industrial development in a bid to drive economic growth, diversification, value retention and national self-reliance.
About the Industrial Coordination Council
The ICC, launched in 2016, is tasked with helping develop a national strategy to boost the UAE’s industrial sector, setting key performance indicators, proposing policies and initiatives to boost cooperation, and liaising with relevant government entities as well as the private sector.
The Council is made up of members from federal and national level ministries and entities including the Ministry of Industry and Advanced Technology; Ministry of Economy, the Departments of Economic Development of Dubai, Sharjah, Ajman, Umm Al Quwain and Ras Al Khaimah; the Fujairah Department of Industry and Economy; the Federal Competitiveness and Statistics Authority; the Emirates Authority for Standardization and Metrology; the Federal Customs Authority; the Federation of UAE Chambers of Commerce and Industry; and the Industrialist Union Society, Emirates Development Bank and Commercial Directorate of the Abu Dhabi National Oil Company, ADNOC.
© Press Release 2020