Have you ever wondered what makes entrepreneurs choose Dubai when it comes to establishing their business? The reason can be attributed to evolving business policies and the city’s commitment to remain an entrepreneurial favourite.
Dubai’s Industrial Strategy 2030 further cements the Emirate’s position as a global powerhouse for innovation and economic growth. The forward-thinking initiative focuses on diversifying the economy. Let us explore and learn about it in detail.
Back to topWhat is Dubai Industrial Strategy 2030?
Dubai Industrial Strategy 2030 is an initiative that focuses on growing the industrial sector and reducing the reliance on traditional oil-based revenues. It aims to diversify Dubai's economy by promoting manufacturing, innovation, and sustainable practices and position the Emirate as a global leader in key industrial sectors.
Back to topObjectives of Dubai Industrial Strategy
The government plans to achieve five key objectives by putting the strategy in place. Each one of them is aimed at strengthening Dubai's industrial capabilities and global competitiveness. Let us look at them:
- Position Dubai as a hub for supplying Islamic products globally.
- Provide a skilled workforce to entrepreneurs and businesses for them to meet their requirements.
- Promote sustainable industrial development to diversify the economy.
- Reduce reliance on oil revenues through diversified industrial activities.
- Foster research and innovation to drive advanced manufacturing and technology.
Impact of Manufacturing Sector on Dubai’s Economy
The manufacturing industry in Dubai is a major contributor to the economy. Now, with the introduction of Dubai Industrial Strategy 2030, the authorities aim to invest an additional 43 billion. This is to ensure economic growth and solidify Dubai's position as a global industrial hub.
The investment is set to create new job opportunities, attract international investors, and drive the city’s industrial competitiveness to unprecedented heights. The authorities aim to increase income levels, boost consumer spending, and create a ripple effect in other sectors like logistics, technology, and construction.
Back to topWhich Sectors are Targeted under Dubai Industrial Strategy?
Let us have a look at the key sectors targeted under the industrial strategy initiative:
- Metals
- Maritime
- Aerospace
- Biotechnology
- Pharmaceuticals
- Fabricated Metals
- Renewable Energy
- Artificial Intelligence
- Food and Beverages
How Can Commitbiz Help?
Commitbiz helps entrepreneurs realise and fulfil their business dreams. Our team thoroughly understands the process of setting up a company in Dubai and will assist you in navigating the involved legalities. The business setup experts ensure smooth transition into Dubai’s bustling business environment as they have complete knowledge of the involved procedures and documentation. With Dubai Industrial Strategy 2030 in place, company formation in Dubai is an ideal option to leverage the growing opportunities in the manufacturing sector. Contact us to learn more!
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