UAE reveals $81bn industrialization plan

It will be led by the UAE Ministry of Industry and Advanced Technology. (File/AFP)

• The strategy aims to raise the manufacturing sector’s contribution to 300 billion dirhams from the existing 133 billion dirhams

DUBAI: The UAE aims to increase its industrial revenues to 300 billion dirhams ($81.68 billion) over 10 years.
Dubai Ruler Mohammed bin Rashid Al-Maktoum and Abu Dhabi Crown Prince Mohammed bin Zayed Al-Nahyan announced the plan on Twitter.
The strategy aims to raise the manufacturing sector’s contribution to 300 billion dirhams from the existing 133 billion dirhams, they said.
It will be led by the UAE Ministry of Industry and Advanced Technology.
‘Make It In The Emirates’ — the UAE’s industrial identity to support domestic manufacturing, was also launched on Monday.
The coronavirus pandemic has highlighted the need for Gulf states to accelerate their diversification plans while at the same time reducing their reliance on imports.