IDC to enhance sustainability and competitiveness of UAE’s industry

The Industry Development Council convened for its first meeting, headed by Dr. Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of the Industry Development Council.

In mid-December 2021, the UAE Cabinet approved the establishment of the UAE Industry Development Council (IDC) with the aim of enhancing the capability and competitiveness of the UAE’s industrial sector, developing an attractive environment for local and international investors, and instilling a conducive business environment for SMEs.

The council is also responsible for coordinating with federal and local government entities to develop policies and legislations necessary for the growth of the UAE’s industrial sector and adopting unified performance indicators.

During the meeting, Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade was appointed Vice Chairman of the Industry Development Council and Chairman of the Council’s Executive Committee, and Osama Amir Fadl, Assistant Undersecretary for the Industrial Accelerators Sector at MoIAT, as Rapporteur of the Industry Development Council.

Moreover, Council members discussed incentives and enablers for the UAE’s industrial sector to ensure its flexibility, efficiency and competitiveness, and addressed developing a unified industrial database.

Dr. Sultan Ahmed Al Jaber said: “In line with the vision and directives of the UAE’s leadership, the Industry Development Council seeks to enhance the integration of and collaboration between federal and local government entities and boost the contribution of the private sector. All this is with the aim of promoting industrial growth in the UAE during the next phase, especially in light of the results achieved in the first year of the Ministry of Industry and Advanced Technology’s establishment.”

He noted that the valuable achievements are due to the complementary partnership framework between MoIAT and key industry stakeholders. He commented: “The UAE’s industrial sector features several promising opportunities to achieve the leadership’s ambitions and play a pivotal role in strengthening the national economy. The Industry Development Council is one of the pillars supporting the realization of this drive, by enabling industrial development, enhancing national in-country value, boosting the competitiveness of UAE’s products in local, regional and international markets, and attracting foreign direct investments.” Dr. Thani Al Zeyoudi highlighted that the increase in the UAE’s production and export capacities, and enhancing the competitiveness of its products regionally and globally. is a national priority, especially in light of the great opportunities presented in the post-COVID-19 era.

Dr. Al Zeyoudi said: “Exports accounted for approximately 60 per cent of the UAE’s industrial production in 2020. In addition, statistics indicate that the UAE accounts for more than a third of Arab industrial exports, and more than two-thirds of Arab exports of goods with advanced technologies, all of which present a valuable opportunity for the growth and prosperity of the UAE’s industrial sector.”

He noted that the Industry Development Council discussed ways of updating standards and technical specifications given their vital role in enhancing the quality and competitiveness of UAE industries. They also explored ways to promote national products locally and adopt targets to stimulate national industrial production in vital sectors.

During the meeting, Council members agreed upon the mandate, framework, and strategic objectives of the council. They also reviewed the latest developments in the implementation of the National Strategy for Industry and Advanced Technology, the industrial plan of each emirate, and its contribution to the overall strategy.

In addition, specialised subcommittees were established with the mandate to enhance the industrial database, unify industrial regulations and legislations nation-wide, and follow up on the implementation of industrial incentives.

The meeting was attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Omar Suwaina Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology; Sharif Al Olama, Undersecretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs; Major General Suhail Saeed Al Khaili, Acting Director General of the Federal Authority for Identity, Citizenship, Customs and Ports Security; Hanan Mansour Ahli, Acting Director of the Federal Competitiveness and Statistics Centre; Humaid Mohammed ben Salem, Secretary General of the Federation of UAE Chambers of Commerce and Industry; Major General Dr. Mubarak Ghafan Al Jabri, Assistant Undersecretary for Support and Defence Industries at the Ministry of Defence; Ahmed Al Naqbi, CEO of Emirates Development Bank; Noura Al Marzouqi, Assistant Undersecretary for Policy and Strategy at the Ministry of Human Resources and Emiratisation; Rashed Abdulkarim Al Blooshi.

WAM