Most notably, expanding technological industries, reducing costs, and supporting startups

Industrialists identify 10 factors to support the competitiveness of the UAE industry

  • The "Make in the Emirates" forum concluded in Abu Dhabi recently. Cinematographer: Najeeb Mohammed

image

Industry officials have identified 10 key factors that support the competitiveness of UAE industry in local and export markets.

The officials stressed the importance of continuing to support the quality of local products, reduce their cost, provide concessional financing, expand technological industries, use clean energy, promote digitization, support startups, invest in research and development, support supply chains, as well as invest in the "green industry".

They explained to "Emirates Today", on the sidelines of the "Make in the Emirates" forum, which concluded its work in Abu Dhabi recently, that the UAE industry has witnessed great development over the past years, and opened new markets for export.

Supporting Competitiveness

Arafat Al Yafei, Executive Director of the Industrial Development Bureau of the Department of Economic Development in Abu Dhabi, said: "The office focuses on ensuring high quality of products and reducing the cost of products manufactured in Abu Dhabi by providing facilities to companies and reducing the cost of services to support the competitiveness of UAE industries at home and abroad."

He added that «the office signed several agreements with financial institutions during the recent period, to verify that banks are ready to provide the concessional financial support needed by the industrial sector», stressing the importance of strengthening the trend of digitization to improve productivity and reduce the cost of work.

He stressed that «the industrial sector in Abu Dhabi is witnessing great developments, in preparation for doubling its size, to reach 172 billion dirhams, by enhancing the ease of doing business and supporting industrial financing».

UAE Industry

For his part, Eng. Saeed Ghumran Al Remeithi, CEO of Emirates Steel Group, said: "The UAE industry has witnessed great development over the past years, and opened new markets for export, which contributed to increasing its sales internally and increasing its exports abroad significantly."

He added that "industrial companies need to expand to meet the new global trends of the industry, by supporting the use of clean energy, increasing the use of hydrogen, and investing in green industry, to support the competitiveness of the industry in local and global markets."

Al Rumaithi stressed the importance of adopting sustainable practices in the manufacturing and production sector, to benefit from resources more, noting that the group has developed a decarbonization roadmap, based on capturing carbon emissions, green hydrogen and clean energy, and was able to reduce the use of carbon in production processes by 45% compared to competitors in 2022, and reduce the carbon intensity of steel production by 35% using 80% of clean electricity sources, and intends to reach net zero emissions by 2050.

Research & Development

In the same context, the CEO of Masdar City, Mohammed Al Breiki, said that «investment in research and development is a key feature of successful companies», indicating that companies that monitor investments for research and development to meet consumer needs, access to new markets and raise the quality of the product, are the ones that achieve success in light of strong competition in the local and global markets.

Al Breiki stressed the importance of providing financial and technical support to startups, given their great role in economic development, and being a major source of innovation and the introduction of new goods and services, noting that Masdar has launched a program related to sustainability, which provides the necessary support for startups that rely on technology, called "The Catalyst", in cooperation with an international company.

"The program has achieved great success, and it is expected to start manufacturing important goods and products focused on sustainability, and the use of clean technologies in the UAE soon, such as the project to store energy extracted from clean sources, such as solar panels in certain batteries, to help the consumer achieve self-sufficiency, and not rely on the national grid to obtain energy," he said.

Supply Chains

SABB's General Manager in the UAE, Anna Karen Rosen, said that "strengthening work with global supply chains is key to supporting the industry, which has been a challenge for industrial companies in the world since the (Covid-19) pandemic," adding that "the situation is improving, thanks to government support."

She also stressed the importance of employing talent capable of innovation, and supporting collective cooperation between the government, factories and universities, to enhance innovation and research and development efforts. She explained that «SABB) is one of the first security and defense companies to set up a factory in the UAE in (Tawazun Industrial Park), to meet national and global needs», noting that «the UAE is one of the most important markets for the company in the world, due to the attractive environment for investment».

Future Industries

The CEO of a company in the UAE, who preferred not to be named, stressed the importance of expanding the technological industries sector, or what is known as "future industries", especially electronic chips and "software".

He added that the UAE enjoys high competitive advantages in the industrial sector, foremost of which is the availability of clean energy, skilled labor, and unlimited government support, stressing the importance of continuing to strengthen the quality of local products and reduce its cost.