Dubai 2030 launched by the Government of UAE to make Dubai an enormous global platform for inventive industries and a considerable pick for international organizations for commending environmental sustainability and development. The Government of Dubai is aiming at developing Industrial Strategy for the most earmarked zones and also considering some conventional sectors like Tourism, Trade, Logistics and Financial Services.
The Prime Minister of UAE Sheikh Mohammed in one of his interviews stated that, “Nations are recognized for what they produce and offer in products and services and the value they add to the global economy”, which conveys that Dubai is trying to make a difference in the global economy inclining more towards environmental growth.
DUBAI’S INDUSTRIAL STRATEGY FOR 2030
Dubai’s Industrial strategy for 2030 focuses on making it a multinational center for knowledge based, sustainable and innovation-focused businesses. This strategy is also aimed at bringing out a supplementary 160 billion Automated External Defibrillators (AED), a life-saving device, by 2030. The approach is developed for strengthening the consistency of the industrial sector with the economic sector and also to build an effective environment with a set of advantages and encouragement.
OBJECTIVES OF STRATEGY
The Dubai’s Industrial strategy has been launched with the focus on some key objectives like:
1.To become a global center for knowledge based, eco-friendly and ingenious businesses, a strategy formulated for the people, society, place, economy, government and experience.
2. To increase the gross production and value-addition of the production quarter.
3. To upgrade the knowledge and innovation sector.
4. To make Dubai a one-stop international platform for all companies, making it a global business center .
5. To promote sustainability with the use of energy efficiently that will help Dubai in becoming an environmentally successful nation.
6. To become a center for all global Islamic products.
GROWTH IN THE INDUSTRIAL SECTOR
Dubai has seen significant growth in the industrial sector over the past few years contributing to the overall development of the economy. The range of the industrial sector was between 11% to 14% in Dubai’s GDP, making it the third huge sector after trade and logistics. .The Industrial sector showed better and positive growth, even after facing some of the global financial issues. With the 18 industries in Dubai, 8 are based in free zones that constitute 30% of the aggregate industrial sectors within the Emirate, many of them come under logistics projects that represent Emirates as an eminent industrial sector.
SIX PRIMARY SUB-SECTORS
The six sub-sectors identified by Dubai’s Industrial strategy are Aerospace, Maritime, Aluminium and Fabricated materials, Pharmaceuticals and Medical Equipment, Fast Moving Consumable Goods (FMCG), Machinery and Equipment. These sub-sectors were chosen on the basis of Dubai 2021 plan as well for long-term goals implementation in the future.
1. AEROSPACE: Dubai can be seen playing a vital role in aerospace by producing aircrafts, manufacturing additional parts and providing services related to aerospace. Emirates Airlines has always been one of the most dominant airlines companies across the globe. Dubai is looking forward to upgrading in the aviation sector and becoming the multinational center that can add value to the market by increasing the employment and development in this sector. Emirates Airlines presently possess 239 aircraft and 269 more have been commanded in the service. This strategy aims at localizing proficiency in a few sub-industries that come into aerospace.
2. MARITIME: Considered as one of the most enormous and leading ports in the world, Dubai is now awaiting to expand its services to offshore activities and colossal ships that can pull the huge demand towards its industry. The industrial strategy is also aiming at maximizing on opportunities by localizing the production proficiency in sub marine industries.
3. ALUMINIUM AND FABRICATED MATERIALS: Dubai is considered as one of the most dominant countries in the world for the export of aluminium. It produces 2.4 million tons of aluminium yearly from which it exports 88%. Dubai’s Industrial strategy is also aiming at increasing metal production with the use of its current foundation of aluminium production. This will work with the enhancement of finished goods. The downstream companies in the aluminium industry will lead Dubai to reach globally by promoting in-house producers internationally and it will also bring in multinational competitors from aerospace and more industries.
4. PHARMACEUTICALS AND MEDICAL EQUIPMENT: Many of the multinational firms are exporting their part of work and research to other countries for expansion of business with lower cost and Dubai is one of the foremost countries to implement this. Dubai has picked out this sub-sector because of its emergence in today’s world and as it can also standardize the pharmaceutical market. The nations included in GCC, buy-in 80% of pharmaceutical needs due to the bottommost production ability of provincial and tropical regions. The plan will start with the manufacture of medicinal cosmetics that can eventually lead to the growth of its demand. This strategy will help in financing Research and Development, build a superior infrastructure with the help of new technology, proficient working capital, that will help in achieving future growth.
5. FAST MOVING CONSUMER GOODS (FMCG): The aim of Dubai’s Industrial strategy to focus on FMCG is right away going to have an effect on Dubai’s mission of becoming “Capital of Islamic Economy”, with Halal industries being the most primary sector. In 2014 the global food & beverages industry had a market value of $4 trillion and Dubai’s market value in the same year was $13 billion. Dubai can be a most prominent center for food & beverages across the globe. With this strategy Dubai is trying to enlarge regional production ability for higher demands for halal products in the market.
6. MACHINERY AND EQUIPMENTS: This sub-sector of Machinery and Equipment constitutes 25% of the industrial GDP due to lofty demands in local and in-house for these sectors. This sector contributes $3.5 trillion in the multinational market. The Industrial strategy for this area will give a boost to GDP and will also help nations to stay ahead in the global market.
AUTONOMOUS TRANSPORTATION IN DUBAI 2030
Dubai’s plan of autonomous transportation is looking forward to making 25% of the total transportation in Dubai autonomous. The strategy also aims at bringing AED 22 billion in yearly capital income which will aid in reducing pollution by reducing carbon emissions, cutting off transportation cost and will also cut the number of accidents that take place annually by using advanced modes of transportation. This strategy will reduce cost by 44% which will save AED 900 million per annum. It will also aid in preserving AED 1.5 billion a year which will cut off environmental pollution by 12% and will give rise to AED 18 billion in yearly returns by giving a boost to transportation by 2030. This autonomous strategy will also help in reducing accidents by 12% and will help in saving 396 million hours required for transportation. This strategy shows four prominent supporting sectors which are technology, Infrastructure individuals and Judicial formation and the main application of this strategy will be on buses, metros and taxis.
This overall Dubai’s Industrial Strategy will have a significant outcome and will soon become a global center for many main and sub sectors.
HUMD is an in5 incubated company that promotes sustainability and also empowers the small scale and large scale vendors across UAE to get bigger consumers for their products. It aims at transforming conventional ways of shopping with advanced technology. HUMD customizes EXPO 2020 T-shirts made with 12 plastic bottles, going eco-friendly and contributing towards Dubai’s mission of going green. Being the GCC’s first printing marketplace, it is providing facilities to the vendors that includes user friendly interface, no capital investment, timely payment and reach to a wider audience. HUMD is working to promote and contribute towards the DUBAI 2030 plan.