The UAE industrial export sales reach 47.4 billion dollars

This was stated by Sultan Al Jaber, the UAE Minister of Industry and Advanced Technology, in 2022 report.

The report says that Operation 300 Billion Industrial Strategy, In-Country Value Programme and Make It In The Emirates Initiative are the key incentives for local and foreign investors as well as the UAE industrial sector fast growth.

In 2022, 263 new industrial production licenses were issued which is 20% more than in 2021.The national In-Country Value (ICV) program to which 6 new companies joined  enabled the economy of the country to get AED 53 billion.

In 2022, the UAE Ministry of Industry and Advanced Technology supported 175 industrial companies in developing a technological progress roadmap. By today, the total number of factories in the UAE has increased to 275.

The Emirates are expected to be an industrial center of the Middle East by 2031, and the industrial sector contribution to GDP will reach AED 30 billion.

See the most notable UAE business news online in the Telegram channel - Russia-UAE Trade House

(The National, February 8, 2023)