Dubai is scaling up efforts to transform itself into a global industrial and manufacturing hub and attract major investments across key sectors such as aerospace, pharma and medical equipment, and more.
This is consistent with the Dubai Industrial Strategy 2030, which projects an additional $5 billion in industrial sector growth by the year 2030.In the past 10 years, the contribution of Dubai’s industrial sector to its GDP has been around 11-14%, making it the third largest sector, after trade and logistics.
It has continued to demonstrate solid growth even during times of global crisis, buoyed by a range of strategic government initiatives and programs, such as the Dubai Industrial Strategy, to boost the global competitiveness of the sector and attract foreign investments.
“The Dubai Industrial Strategy aims to leverage our advanced infrastructure, enabling an environment to transform the UAE into a global platform for innovative industries and a destination of choice for international companies seeking an integrated and favorable environment for growth and sustainability,” said His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President & Prime Minister of the UAE and Ruler of Dubai.
Global as well as Indian companies, including India’s Himalaya Wellness, have built manufacturing facilities and research and development centers in Dubai – a move that is in line with the Emirate’s industrial strategy to boost ‘Make in UAE’ production in key sectors, including pharmaceuticals and medical products.
“Himalaya invests in markets with an in-depth and long-term approach, maintaining high ethical standards at each step of the way. Dubai’s highly supportive and business-friendly environment, efficient administration and forward-looking immigration policies backed by excellent work–life balance were some of the factors that inspired us to open a global R&D Centre here. Dubai being a gateway to the world will continue to be a strong pillar for Himalaya’s global outreach,” said Shailendra Malhotra, Global CEO, Himalaya Wellness.
The Dubai Industrial Strategy 2030, which was launched in June 2016 with the goal of elevating the Emirates into a global platform for knowledge-based, sustainable, and innovation-focused businesses, has identified 75 initiatives to transform Dubai into an industrial hub.
With the Dubai Industrial Strategy and focused government initiatives to make Dubai a global industrial and manufacturing hub, the UAE is taking one more step towards building a future-ready economy and becoming a preferred destination for investors and businesses from across the world.