Business

UAE launches Operation 300Bn to raise industrial sector's contribution to Dh300 billion

UAE launches Operation 300Bn to raise industrial sector's contribution to Dh300 billion

Dubai: The UAE government launched on Monday 'Operation 300bn', a national industrial strategy aimed at raising the manufacturing sector’s contribution from Dh133 to Dh300 billion over the next 10 years.

The strategy, which will be led by the Ministry of Industry and Advanced Technology, was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.

The ultimate goal of the strategy is to support the setting up of 13,500 industrial companies and will help increase spending on research and development in the industrial sector from Dh21 billion to Dh57 billion in the coming years.

Sheikh Mohammed also launched the 'Make It In The Emirates' - the UAE's industrial identity to support domestic products and promote the sector globally, aiming to establish the country's industrial competitiveness.