Future Manufacturing Summit Highlights Region's Industrialisation Potential

DUBAI, (UrduPoint / Pakistan Point News / WAM - 10th Sep, 2019) The 4th Future Manufacturing & Trade Summit organised by Dubai Exports - the export promotion agency of Dubai Economy - in collaboration with Expo Trade middle East, began today at the Intercontinental Festival City.

Over 1,000 senior professionals and experts came together to discuss the innovations, priority sectors and challenges in manufacturing and the role of industries in driving exports.

The two-day Summit, held under the patronage of Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, will especially focus on developing the UAE’s industrial sector potential and promoting exports of local companies because of their role in enabling growth in Dubai and across the country.

Dubai Exports aims to highlight the importance of technology adoption in boosting local manufacturing potential and enabling UAE exporters to grow globally at the Summit.

The Summit agenda includes 16 presentations on the state of the industry and six-panel discussions on topics focusing on advanced manufacturing and production, deciphering the benefits of the internet of Things, IoT, operational excellence and lean strategies, the future manufacturing workforce, and e-commerce transforming the future of logistics.

Speaking on the occasion, Saed Al Awadi, CEO of Dubai Exports, commented, "The Summit seeks to address a range of topics such as the Globalisation Roadmap for UAE manufacturers, the Fourth Industrial Revolution, Artificial Intelligence, Internet of Things and Warehouse Automation in addition to securing credit, integration of blockchain and other important topics. Speakers will also shed light on the future workforce of the industrial sector, trade finance, and e-commerce."

Dubai Exports, in cooperation with partners in government and the industry, seeks to provide varied services and initiatives to boost manufacturing and exports, including information on global markets, exporter verification and issuing certificates of accreditation, said Al Awadi.

"We also facilitate meetings between companies during trade missions and international exhibitions. Our efforts have helped the industrial sector contribute 9.2 percent to Dubai’s GDP in 2018. We have also seen a 30 percent increase in Dubai’s direct exports between the first quarters of 2018 and 2019, while re-exports increased seven percent along the same period."

For his part, Osama Amir Fadhel, Acting Assistant Under-Secretary of Industrial Affairs, Ministry of Energy & Industry, stated that the industrial sector contributes to around 9.5 percent of the country's GDP, which is equivalent to 11 percent of the non-oil GDP, with a growth rate of 4.5 percent in the last five years. It also provides more than 460,000 job opportunities. Almost half of the sector's contribution to GDP comes from industrial capacities that employ high or medium-level technologies and skills. All these indicators reflect the strength and flexibility of this sector.

Reiterating the UAE's commitment to pioneering technical progress, Fadhel said that government initiatives at the Federal and local levels, such as the launch of the UAE's Fourth Industrial Revolution Strategy, the National Strategy for Advanced Innovation, the UAE Council for the Fourth Industrial Revolution, and others are clear testimonies to this trend.

The Ministry of Energy and Industry, he added, is working with its partners in the UAE's Industrial Coordination Council to develop an integrated and unified strategy for the country's industrial sector, benefiting from the diversification of infrastructure and manufacturing capabilities among the emirates.

The Summit also features an exhibition where 21 leading technology and service providers showcase their latest products that support the growing manufacturing market in the region.