The industry and advanced technologies sector in the United Arab Emirates has increased its share in the country's GDP. According to statistics, the revenue of the industry sector of the UAE has reached 205 billion dirhams by the end of 2023, and this figure constitutes 11% of the country's total gross domestic product.
Publish dateSaturday 28 December 2024 - 22:30
According to Amac News: Global competitiveness reports also show that the UAE's rank has increased from 35th in 2019 to 27th globally and the first place in the Arab world.
In addition, the National Intrinsic Value Program, which is part of the "50 Projects", has channeled more than 73 billion dirhams of corporate spending into the national economy. The initiative has facilitated growth and integration between industrial and service companies and has had a positive social impact, with more than 19,000 Emiratis employed in private companies accredited by the program.
In recent years, industrial financing has expanded significantly, with more than 19 billion dirhams of competitive financing provided by the Emirates Development Bank and other financial institutions.
In 2024, 9.5 billion dirhams of financing are allocated for the industrial sector, which includes 1.1 billion dirhams for advanced technologies and 1.8 billion dirhams for credit solutions from Etihad Credit Insurance.
Also, "Building in UAE Forum" has recorded significant achievements in its three periods. By the end of 2023, purchase agreements for domestically produced products over a 10-year period have reached 143 billion dirhams, including 2,000 locally produced goods.
In addition, production contracts worth 62 billion dirhams have been awarded and more than 300 products worth about 7 billion dirhams have been produced and purchased.
In addition, the National Intrinsic Value Program, which is part of the "50 Projects", has channeled more than 73 billion dirhams of corporate spending into the national economy. The initiative has facilitated growth and integration between industrial and service companies and has had a positive social impact, with more than 19,000 Emiratis employed in private companies accredited by the program.
In recent years, industrial financing has expanded significantly, with more than 19 billion dirhams of competitive financing provided by the Emirates Development Bank and other financial institutions.
In 2024, 9.5 billion dirhams of financing are allocated for the industrial sector, which includes 1.1 billion dirhams for advanced technologies and 1.8 billion dirhams for credit solutions from Etihad Credit Insurance.
Also, "Building in UAE Forum" has recorded significant achievements in its three periods. By the end of 2023, purchase agreements for domestically produced products over a 10-year period have reached 143 billion dirhams, including 2,000 locally produced goods.
In addition, production contracts worth 62 billion dirhams have been awarded and more than 300 products worth about 7 billion dirhams have been produced and purchased.
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Source : news agency wam
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