UAE Industry Leaders Gather for Growth Summit

The United Arab Emirates (UAE) hosted the third edition of its "Make it in the Emirates Forum" on May 27th, 2024, in Abu Dhabi. The two-day event, organized by the Ministry of Industry and Advanced Technology (MoIAT) alongside the Abu Dhabi Department of Economic Development (ADDED) and ADNOC Group, brought together key decision-makers, business leaders, and innovators under the theme "Invest. Innovate. Grow. "

The forum served as a platform to discuss and explore opportunities for industrial advancement within the UAE. The focus was on attracting both domestic and international investment to fuel strategic sectors crucial for the nation's economic diversification goals. These sectors include pharmaceuticals, energy, telecommunications, space exploration, healthcare, and food and beverage production.

Building on the success of the previous editions, which generated a staggering AED 121 billion in local procurement opportunities, the 2024 forum aimed to surpass these achievements. Organizers identified 1, 400 specific products with high import substitution potential, showcasing them as prime targets for local manufacturing ventures. This focus on import substitution aligns with the UAE's National Strategy for Industry and Advanced Technology, which prioritizes domestic production and industrial resilience.

The forum agenda featured a series of high-profile panel discussions. These sessions delved into various topics critical to the UAE's industrial future. Among the key themes explored were "Operation 300bn, " a government initiative to boost the industrial sector's contribution to the GDP by AED300 billion by 2031. Discussions also centered on the potential of artificial intelligence (AI) for industrial process optimization and the UAE's ambitions to become a major player in the global space industry. Additionally, there were sessions dedicated to sustainable manufacturing practices and the convergence of different industries to create solutions for smart mobility.

The "Make it in the Emirates Forum" serves as a significant platform for industry stakeholders within the UAE. It fosters collaboration between policymakers, investors, and businesses, facilitating the exchange of ideas and the development of strategies to propel the nation's industrial sector towards a future driven by innovation and sustainable growth.

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