- Home
- Middle East
- UAE
- Industrial strategy 'Operation 300bn' will boost UAE's global competitiveness: Abdull ..
Industrial Strategy 'Operation 300bn' Will Boost UAE's Global Competitiveness: Abdulla Al Marri
Umer Jamshaid Published March 22, 2021 | 08:00 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 22nd Mar, 2021) Abdulla bin Touq Al Marri, Minister of Economy, stressed that the UAE’s leadership prioritises the industrial and manufacturing sectors, given their vital role in establishing a strong sustainable and productive knowledge-based economy, to consolidate the country’s economic competitiveness and export capacities.
"The manufacturing and mining industries accounted for nearly 38 percent of the country’s real GDP in 2019, with a total value of AED569 billion. Manufacturing alone contributed some AED135 billion to GDP at current prices, achieving a compound annual growth rate of 4 percent and accounting for 9 percent of overall national GDP and 12 percent of non-oil GDP," he said in a statement on the launch of the country’s industrial strategy "Operation 300bn" by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.
These figures underscore the importance of the economic sector to the country’s development policies, he added, affirming that the launch of the Ministry of Industry and Advanced Technology was pivotal to the country’s efforts to achieve industrial development and will enhance the global leadership of the national industry.
He then pointed out that the strategy focusses on linking industrial development to advanced technologies and recent economic trends, which will strengthen the country’s position on the international industrial map.
Al Marri highlighted the keenness of the Ministry of Economy to encourage future cooperation and partnership with the Ministry of Industry and Advanced Technology, to support the strategy and achieve its objectives.
Related Topics
Recent Stories
Serial winner Kroos eyes two-trophy finish to career
10 bodies found in Mexico's Acapulco, some in street
Djokovic backs Nadal for French Open title
BUITEMS VC calls for funds allocation for varsities
Nine child workers die in Egypt as bus plunges into the Nile
Govt taking various measures to promote sports: Senator
China warns Taiwan of reprisals over Lai inauguration speech
DPM Dar, Kyrgyz FM discuss recent incidents of violence against Pakistanis
UN health agency chief calls for end to recent Israeli siege of Gaza Hospital
BISE Hyderabad announces results of oriental languages examination
Starc helps Kolkata thrash Hyderabad to reach IPL final
Sindh edu dept launches school enrollment campaign
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
4 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
7 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
7 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
7 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
7 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
7 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
7 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
7 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
7 months ago -
SIBF turns spotlight on remarkable contributions of women
7 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
7 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
7 months ago