Manufacturing sector to play crucial role in country's growth

The UAE ministers believe manufacturing sector has a key role to play in terms of economic transformation in the country. UAE Minister of Energy Eng. Suhail bin Mohammed Faraj Al Mazrouei said the country will shift focus to more industrial areas then just petrochemicals.
Al Mazrouei noted to achieve this target doesn't mean to focus on subsidies.
"The whole region needs to rethink about energy subsidy when it comes to industries. We can't assume that any manufacturing works only because of subsidies. It will not be sustainable. In future, we will compete on the basis of certain areas that we can accept and have advantage."
He cited example of Strata's partnership. "This manufacturing started from the fact that we have two of the largest aircraft fleets in the world. It makes sense to serve them and that joint venture worked very well."
Al Mazrouei hoped that technology advancements in the country will help attract and retain talent. He said the country is maintaining a nice equilibrium. "We want to make the UAE the best place to live. We want to become sustainable, livable and attract best talents to the UAE."
UAE Minister of Climate Change and Environment Dr. Thani bin Ahmed Al Zeyoudi said the country is technologically advanced and has one of the best HSE standards.
Al Zeyoudi said the focus now must be to develop soft skills among the youth.
Looking at the future, Al Mazrouei said the focus isn't just on developing human capital but robots too.
"We are just at the beginning. There is a new notion now on who is going to be the labour in the future? Is it going to be the machine, robots or human capital? And there are two schools of thoughts, the biggest manufacturers are talking about. But we are preparing ourselves for both. Investing in education is one of the top priorities for the leadership. At the same time, we allow creativity and some room for those areas of industralisation where robots come in. We invest in robotics. We put prizes every year for drones, unmanned aerial vehicles and others. So, we are investing in both," Al Mazrouei added.
The ministers presented a strategy that showed the UAE's vision for the manufacturing sector.
- ashwani@khaleejtimes.com