UAE a model for economic development

Under the auspices of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, and attended by Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and UAE Minister of Presidential Affairs, the 4th Global Manufacturing and Industrialisation Summit (GMIS) was launched on Monday in Dubai.

GMIS is organised by the Ministry of Industry and Advanced Technology (MoIAT) in partnership with the United Nations Industrial Development organisation (UNIDO). The summit will run until November 27 and includes an industrial exhibition at the Dubai Exhibition centre at the Expo 2020 site.

Dr Sultan Bin Ahmad Al Jaber, UAE Minister of Industry and Advanced Technology, delivered the summit’s inaugural address, beginning his speech by commending the UAE leadership’s wise vision and its direction to develop a sustainable and diversified economy for the next 50 years. The UAE, he said, has become a global model for economic development, built on competitive advantages and an advanced business ecosystem.

Al Jaber welcomed the audience and participants and then issued a call to fully leverage the potential of 4IR technologies, pointing to the initiatives launched by the UAE to accelerate their adoption across the industrial sector.

Accelerating growth and progress through cooperation and synergies in his speech, Al Jaber also extended an open invitation to the world’s countries to collaborate with the UAE in its efforts to enhance international cooperation, invest in new opportunities and build a bright and prosperous global economy. He remarked that no economy exists in a vacuum, and that accelerating growth and progress requires synergies to create an effective and integrated industrial ecosystem.

Al Jaber highlighted the global industrial sector’s evolution, saying: “The first three industrial revolutions contributed to strengthening global GDP and raising it to historical levels. They also helped increase average life expectancy and multiplied average global income 15 times. We are currently witnessing the dawn of the Fourth Industrial Era, as 4IR technologies begin to advance the industrial sector and enhance its contribution to driving global growth and prosperity.”  The Minister also discussed the impact of advanced technologies on efficiency, citing several examples, including additive manufacturing’s role in multiplying the productivity of numerous sectors over the past five years. Machine learning technologies have also contributed to developing vaccines during the COVID-19 pandemic, accelerating clinical trials and, as a result, saving many thousands of lives. He underscored the ability of advanced technologies and artificial intelligence to generate positive change.

Dr Sultan Ahmed Al Jaber explained that the UAE’s national industrial strategy focuses on sectors that contribute to producing high added value. It is also centers on diversifying the economy, achieving sustainable growth, and enhancing industrial competitiveness, particularly through the adoption of cutting-edge technology The strategy strives to achieve MoIAT’s goal of doubling the industrial sector’s contribution to national GDP in less than 10 years.

Al Jaber added: “We are working on adding greater value in sectors within which we have expertise and competitive advantages, including energy, petrochemicals, plastics, metals, heavy industries, and electrical equipment. We will focus on investing in priority sectors, including healthcare, agritech, and advanced industries. We also seek to create value in high-performance sectors such as biotechnology and aerospace.” Regarding future plans, HE clarified that MoIAT will focus on increasing the industrial sector’s contribution to building an economy that is the best and most dynamic in the world, in line with the Principles of the 50 adopted by the UAE’s wise leadership as a comprehensive development plan to advance growth and prosperity over the next 50 years.

Competitive advantages Al Jaber emphasised that the UAE invites partners to participate in enhancing industrial growth based on smart partnerships to expand its industrial base while utilizing its current competitive advantages, including a world-class infrastructure, access to energy sources and raw materials, and diversity and cultural openness, which make the country a preferred destination for talents from more than 200 nationalities. He pointed out that UAE is seeking to enhance these advantages by refining regulatory frameworks, providing long-term residency visas for investors, entrepreneurs and highly skilled professionals, and facilitating access to finance in cooperation with the Emirates Development Bank.

A Flourishing Global Vision for the Next 50 Years: Dr. Sultan Al Jaber also highlighted the Projects of the 50, which were launched by the UAE’s leadership to lay the foundation for growth for the next five decades. He noted the significant role played by industry and advanced technology in these projects. “As the UAE celebrates its 50th anniversary, our wise leadership has laid its vision for a prosperous future for the next 50 years. The role of industry is to contribute to building the best and most dynamic economy in the world.” Ministerial Meetings and Signing Agreements During his participation in the first day of the summit, His Excellency Dr. Sultan Al Jaber met with His Excellency Bandar bin Ibrahim Al-Khorayef, Saudi Minister of Industry and Mineral Resources, and Lord Gerry Grimstone, Minister for Investment at Department for International Trade and Department for Business Energy and Industrial Strategy in the United Kingdom.

Dr Sultan Al Jaber, and Khaldoon Al Mubarak, CEO of Mubadala Company, also attended the signing of a memorandum of understanding between the Ministry of Industry and Advanced Technology and Emirates Global Aluminium, signed by Omar Suwaina Al Suwaidi, Undersecretary of the Ministry, and Abdel Nasser Bin Kalban, CEO of Emirates Global Aluminium. The MoU aims to implement the In-Country Value programme on all purchases and contracts for goods and services, cooperate on growth opportunities in the aluminium industry in the country, and form a joint working committee to evaluate and discuss the requirements for implementing the programme and provide insights and lessons learned from experience.

Dr Sultan Al Jaber and His Excellency Malik Sultan Al Malik, Director General of the Dubai Development Authority and CEO of Dubai Holding Asset Management, also attended the signing of a memorandum of understanding between the ministry and Dubai Industrial City, which included areas of cooperation and joint endeavors, such as encouraging enterprises to sign up to the Fourth Industrial Revolution Index programme, participate in the readiness assessment, promote the activities of the Fourth Industrial Revolution Network, and join the ICV programme and support the “Make it in the Emirates” campaign.

The MoU was signed by Omar Suwaina Al Suwaidi and Abdullah Belhoul, Chief Commercial Officer of Dubai Holding Asset Management. Al Jaber also toured a number of pavilions of government entities and national and international companies.

GMIS 2021 will welcome more than 250 speakers, including four heads of states, representatives of heads of states, two former prime ministers, four senior UN representatives, the US Special Presidential Envoy for Climate Change, and more than 25 ministers from the UAE and across the globe, in addition to a prominent Emirati presence in more than 70 sessions during the summit.

The summit will host three specialized conferences on technology, impact investment, and alternative and renewable energy, in addition to three joint events with the United Kingdom, Australia and Italy. There will also be training courses for youth, a specialized industrial and technology exhibition, an e-sports event, and an event with the Skolkovo Innovation centre. Lasting for six days with the participation of more than 5,000 people from 130 countries, the summit hosts 60 pavilions and will have two days of workshops and advanced training lessons.