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UAE Operation 300 billion: Industrial sector's contribution reaches Dh205 billion
The UAE has been aggressively pushing for increased contribution of non-oil sectors to its economy in order to reduce reliance on oil
- PUBLISHED: Thu 5 Dec 2024, 5:09 PM UPDATED: Thu 5 Dec 2024, 11:31 PM
The UAE's Operation 300 billion, which was launched to boost the industrial sector's contribution from Dh133 billion to Dh300 billion by 2031, has been progressing very well, a senior official said on Thursday.
“Operation 300 billion initiative lays the foundation for an advanced diversified economy, attracting global investments and driving innovations through cutting-edge technologies. We have already achieved Dh205 billion of contribution out of Dh300 billion by 2031,” said Osama Amir Mohamed Fadhel, assistant undersecretary for the industrial accelerator sector, Ministry of Industry and Advanced Technology (MoIAT).
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While speaking during the second day of Abu Dhabi Business Week on Thursday, the ministry's Operation 300 and 'Make in the Emirates' initiatives underscore the UAE's ambition to be a global industrial hub, defined by sustainability, resilience and forward-thinking policies.
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“As a nation, we need a way to develop robust industrial standards that not only ensure safety and quality but also enable seamless adoption of advanced technologies. These frameworks are the backbone of the reliable and innovative manufacturing sector,” added Fadhel.
The UAE has been aggressively pushing for increased contribution of non-oil sectors to its economy in order to reduce reliance on oil. The country has quite successfully reduced its dependence on the hydrocarbon sector over the years.
Dr. Farah Al Zarooni, assistant undersecretary for standards and regulations sector at Ministry of Industry and Advanced Technology, said the UAE's initiative of 'Make it in the Emirates' is a role model for many nations.
Mohammed Kamali, chief trade and industry officer of, the Abu Dhabi Investment Office, said the UAE capital stands at a pivotal point of economic transformation in industrial development.
“With the industrial sector at the heart of its journey, we are building resilience, embracing technology and creating a future-ready economy. With the launch of the Abu Dhabi Industrial Strategy in June 2022, we set out with a bold ambition to double the manufacturing sector's contribution to our GDP. The impact of this strategy is already evident. This strategy has significantly raised contribution from Dh83 billion in 2022 to Dh101 billion by the end of 2023,” he said while delivering the opening remarks at the conference.
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