Strategy aims at making the emirate a hub for ‘knowledge-based, innovation and sustainable industrial activities’
Implementation of the Dubai Industrial Strategy, which aims to make Dubai “an international hub for knowledge-based, innovation and sustainable industrial activities”, will begin next year.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, has directed that implementation of the strategy should begin with the advent of 2017, according to UAE state news agency WAM.
According to the 2021 Dubai Plan, the strategy involves enhancing industrial coherence and integration with other economic sectors, and to create an attractive investment environment through a set of initiatives and incentives.
“Enhancing creativity and innovation in industry will be a cornerstone of the Dubai Industrial Strategy. This will be in line with our approach to establish a sustainable economy based on research, development and knowledge. All these components will contribute towards making Dubai an exceptional investment destination. Dubai also has a suitable and reliable infrastructure along with a comprehensive set of legislations,” the Crown Prince of Dubai said in a statement carried by WAM.
He stressed that all government departments and bodies in charge of implementation of the industrial strategy needed to intensify efforts as part of the framework identified by Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
Meanwhile, the General Secretariat of Dubai’s Executive Council affirmed that it has already started implementing the leadership’s instructions. It said it has been holding a series of meetings and workshops in co-operation with the concerned parties with the aim of achieving the goals defined in the industrial strategy.
The emphasis will be on promoting industrial co-operation, linking it with educational and research institutions to encourage creativity and innovation.
Also, the focus will be on ensuring an investment environment to attract targeted industries since the industrial strategy is expected to boost Dubai’s GDP by AED165 billion by 2030.
Abdullah Al Shaibani, Secretary General of Executive Council of the Emirate of Dubai said that Dubai’s Industrial strategy is deemed one of the pillars of achieving Dubai Plan 2021 through innovation to position the emirate as a main hub of the global economy.
“Through this strategy Dubai under the leadership of His Highness Sheikh Mohammed bin Rashid and follow up of H.H. Sheikh Hamdan bin Mohammed bin Rashid is proving its capability to be one of most advanced economic and industrial developed hubs around the world,” he added.