The UAE is giving a big boost to its industrial sector with an extra USD 6.3 billion in funding. This effort aims to strengthen local manufacturing and make the country more self-sufficient.

At the recent Make it in the Emirates forum, leaders discussed plans to attract investments and encourage talent. Adnoc is adding AED 20 billion to the fund, while Pure Health is contributing AED 3 billion. This brings the total funding for the sector to over AED 143 billion, which will support the production of over 2,000 products.

A new lending program worth AED 1 billion was also introduced to help small and medium-sized businesses. This initiative, in partnership with Emirates Development Bank and other commercial banks, will provide much-needed financial support. Additionally, a scheme offering competitive electricity prices for industrial companies in Ajman, Umm Al Quwain, Ras Al Khaimah, and Fujairah was launched.

Since the launch of the Make it in the Emirates initiative in 2020, the industrial sector’s contribution to the GDP has increased by 49%, reaching AED 197 billion. Industrial exports have grown by 60% to AED 187 billion, and the UAE has seen a significant rise in in-country value, now at AED 67 billion. Productivity in the industrial sector has gone up by 18%, and the UAE has improved its global industrial ranking.