Operation 300bn: New UAE industrial strategy launched

Dubai - The country aims to increase the contribution of the industrial sector to Dh300 billion.

The UAE on Monday launched a new industrial strategy to increase contribution of the manufacturing sector from Dh133 billion to Dh300 billion in the national economy over the next 10 years.

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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the launch of the strategy — named Operation 300bn — which will be led by the UAE’s Ministry of Industry and Advanced Technology.

“The development of the industrial sector is the development of our economic stability, global standing and the future of our generations,” Sheikh Mohammed said in a tweet on Monday.

“Our goal from the strategy is to support the establishment of 13,500 industrial companies in the coming years. The strategy also includes increasing spending on research and development in the industrial sector from Dh21 billion to Dh57 billion in the coming years,” Sheikh Mohammed said.