SMES ARE THE BACKBONE OF UAE’S OPERATION 300BN

13
  • Cross-sector panel from government, industry, and banking at #GMIS2021 looks to SMEs to accelerate economic diversification and reach sustainability targets
  • ‘The UAE has the capital, know-how, and competitive advantages to develop new sectors’ – H.E. Abdallah Al Shamsi, Assistant Undersecretary for Industrial Growth Sector at the UAE Ministry of Industry and Advanced Technology

Dubai, United Arab Emirates: With a special emphasis on the Summit’s host country, a dedicated session at the fourth edition of the Global Manufacturing and Industrialisation Summit (#GMIS2021) explored the role of the UAE’s National Strategy for Industry and Advanced Technology in driving the development of a diversified industrial economy in the country over the next 30 years.

The strategy, ‘Operation 300Bn’, stems from an integrated vision of the UAE Ministry of Industry and Advanced Technology (MoIAT) to strengthen the UAE’s industrial sector and establish the country as a global hub for future industries.

H.E. Abdallah Al Shamsi, Assistant Undersecretary for the Industrial Growth Sector at MoIAT, noted that the UAE is well-placed to diversify its economy.

Speaking at the panel discussion entitled ‘Operation 300Bn: Make it in the Emirates’ on the second day of #GMIS2021, he said: “There is a lot we can do within existing sectors to go to the next level to increase value added, and we have the capital, know-how, and comparative advantages to help us develop new sectors.” 

He added that coordinating efforts between government entities and national industrial champions will be a critical success factor in paving the way for industrial growth.

During the session, H.E. Eng. Saeed Ghumran Al Remeithi, CEO of Emirates Steel, said Operation 300Bn was an ambitious but important target, and that SMEs were at the heart of the strategy. He added that public-private partnerships are necessary to bring efficiency to the system and to inject foreign direct investments (FDI) into the economy.

Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank (EDB), said the bank was adapting to diversification by focusing on accelerating industrial development in the UAE and enabling SMEs to be a core piece of the ecosystem. He added that EDB was filling gaps by facilitating entrepreneurship and supporting start-ups through initiatives such as this year’s launch of the first digital business bank in partnership with MoIAT. 

Abdulnasser Bin Kalban, CEO of Emirates Global Aluminium (EGA), said that post-pandemic demand for products was outstripping supply, and that sustainability was top of the company’s agenda and a high priority for customers. SMEs are crucial for Operation 300Bn, he added.

Khaleefa Yousef Al Mheiri, Acting CEO of TA’ZIZ, said the chemical sector plays a vital role in diverse manufacturing sectors, and there will be opportunities down the value chain, as most projects will be producing chemicals for the first time.

Saud Abu Al-Shawareb, Managing Director of Dubai Industrial City, spoke about demand in the industrial sector and growth at Dubai Industrial City. Existing and new partners alike are getting support with commercial incentives and government approvals, he said, adding that he looked forward to working with the government to attract more sophisticated, high-end industries, such as mechanical and equipment process line manufacturing and pharma.

Co-chaired by the Ministry of Industry and Advanced Technology and the United Nations Industrial Development Organization (UNIDO), #GMIS2021 convened over 250 policymakers and industry leaders from around the world to engage in 70 sessions from 22 to 27 November at Expo’s Dubai Exhibition Centre. Under the theme ‘Rewiring Societies: Repurposing Digitalisation for Prosperity’, the Summit explored the role of data and connectivity in shaping the future of supply chains, green manufacturing, sustainable energy, climate action, policymaking, and resilient global economies.

About GMIS:

The Global Manufacturing and Industrialisation Summit (GMIS) was established in 2015 to build bridges between manufacturers, governments and NGOs, technologists, and investors in harnessing the Fourth Industrial Revolution’s (4IR) transformation of manufacturing to enable the regeneration of the global economy. A joint initiative by the United Arab Emirates and the United Nations Industrial Development Organisation (UNIDO), GMIS is a global platform that presents stakeholders with an opportunity to shape the future of the manufacturing sector and contribute towards global good by advancing some of the United Nations Sustainable Development Goals.

The first two editions of the Global Manufacturing and Industrialisation Summit were held in Abu Dhabi, United Arab Emirates in March 2017, and Yekaterinburg, Russia in July 2019, respectively, with each edition welcoming over 3,000 high-level delegates from over 40 countries. The third edition, GMIS2020, was held virtually in September 2020 and convened over 10,000 attendees and close to 100 thought-provoking leaders from governments, businesses, and civil society.

#GMIS2021, the fourth edition of the Global Manufacturing and Industrialisation Summit, will be held once again in the United Arab Emirates from November 22 to 27, alongside EXPO Dubai, under the theme – Rewiring Societies: Repurposing Digitalisation for Prosperity.