The UAE Ministry of Industry and Advanced Technology (MoIAT) has announced a groundbreaking AED 40 billion financing initiative, in collaboration with local and international banks, aimed at transforming the country’s industrial landscape. This strategic move aligns with the national “Make it in the Emirates” campaign, which promotes domestic manufacturing and industrial self-sufficiency.
This initiative is structured to:
- Support over 20 factories across the country in adopting advanced manufacturing technologies such as AI, robotics, and automation.
- Encourage public-private partnerships in key industrial sectors including pharmaceuticals, food production, renewable energy, and aerospace.
- Attract foreign direct investment (FDI) by showcasing the UAE as a hub for Industry 4.0 technologies.
The financing will be distributed through tailored loan packages, innovation grants, and project guarantees. The Emirates Development Bank (EDB) is a key implementation partner, tasked with disbursing funds to qualified industrial projects and SMEs that align with the country’s industrial strategy 2031.
In a statement, MoIAT emphasized the UAE’s commitment to becoming a global industrial hub, adding that this initiative is expected to create thousands of jobs, boost exports, and contribute significantly to non-oil GDP growth.
This announcement comes on the heels of the UAE being recognized for its strong economic recovery and diversification efforts, with the non-oil sector projected to grow 5.2% in 2025.
