One of the amazing things about the UAE, the second largest Arab economy, is
that it never ceases to come up with creative ideas, which is exactly what
other countries in this part of the world need to do.
اضافة اعلان
A case in point is the “Make it in the Emirates”
campaign, a simple idea with a clear plan to render this GCC country a global
industrial hub and boost the industrial sector’s contribution to GDP.
Why simple and effective? First of all, the drive is
powered by strategic thinking with a clear goal. It is based on the national
10-year strategy, namely, “Operation 300b”, which was launched last year with
the aim of increasing the contribution of industries to GDP from 133 billion to
300 billion Emirati dirhams in 2031, selecting for that purpose priority sectors
with the potential to help achieve the ambitious goal.
Besides, the UAE has infrastructure and other
ingredients in place: modern industrial estates, cost-effective labor, telecom
services and friendly laws, including a competitive taxation system.
In other words, policymakers must have asked
themselves how they could lure investors to start projects in their country and
offer them a deal they could not reject.
To answer such a question, they sought the help of
strategic partners and sector leaders. As put by Minister of Industry and
Advanced Technology Sultan Al Jaber, “based on the vision of our leadership, we
worked on developing and launching a national industrial strategy, in
consultation with all relevant parties in the industrial sector, including
government and private sector companies, investors, and financial institutions
through transparent dialogue and various workshops, studies, and international
and regional benchmarking”.
What UAE is doing, in transforming its industrial sector, offers many lessons other countries need to learn, and, most importantly, implement for a better future for their peoples.
So far, one can distinguish the elements that ensure
the soundness of this goal-oriented planning: political will to succeed, focus
on the target, having things ready in terms of infrastructure and legislation,
and strategic thinking.
What else would an investor need to decide to sign
up? Financing. Authorities were ready with a plan for that purpose; working closely
with the Emirates Development Bank, they hope to provide competitive financing
solutions for the industrial sector.
What about the results? At the forum held in June,
“a dozen of the UAE’s largest national companies committed to allocate nearly
110 billion dirhams in potential purchase agreements for local manufacturers”.
This would add at least 6 billion dirhams annually to GDP, through the
contribution of non-oil industries, which is in itself a great achievement.
The oil industry will not last forever, and that is
why the UAE leadership has attached a great importance to other industries,
having realized the unquestionable fact that industry is the greatest maker of
big economies, if the right industries are selected and invested in. And this
is exactly what happened at the forum: 12 big UAE companies identified around
300 products across 11 sectors to be manufactured locally.
“One of the most important lessons we learned,”
Jaber said as addressing the “Make it in the Emirates” forum “is that regardless
of global economic conditions, enhancing self-sufficiency and resilience in
vital sectors, such as food, healthcare, and the sectors critical to ensuring
business continuity and economic growth, is critical.”
What UAE is doing, in transforming its industrial
sector, offers many lessons other countries need to learn, and, most
importantly, implement for a better future for their peoples.
Khalid Dalal is a former advisor at the Royal Hashemite Court, former director of
media and communication at the Office of His Majesty King Abdullah, and works
currently as a senior advisor for media, strategic communication, PR,
international cooperation, and business development locally, regionally and
globally. [email protected]
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