Industry Development Council convenes to discuss strategy

The council tasked with promoting industrial growth in the UAE has met for the first time since its establishment in December.

The Industry Development Council aims to enhance the capability and competitiveness of the sector, develop an attractive environment for local and international investors and instill a positive business environment for SMEs.

The council's also responsible for coordinating with federal and local government entities to develop policies and legislation, and adopt unified performance indicators.

During the meeting, Council members reviewed the latest developments in the implementation of the National Strategy for Industry and Advanced Technology, and the industrial plan of each emirate.

Council members also discussed incentives and enablers for the UAE’s industrial sector to ensure its flexibility, efficiency and competitiveness, and addressed developing a unified industrial database.

Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of the Industry Development Council said "the Industry Development Council seeks to enhance the integration of and collaboration between federal and local government entities and boost the contribution of the private sector. All this is with the aim of promoting industrial growth in the UAE during the next phase, especially in light of the results achieved in the first year of the Ministry of Industry and Advanced Technology’s establishment."

He commented: "The UAE’s industrial sector features several promising opportunities to achieve the leadership’s ambitions and play a pivotal role in strengthening the national economy. The Industry Development Council is one of the pillars supporting the realisation of this drive, by enabling industrial development, enhancing national in-country value, boosting the competitiveness of UAE’s products in local, regional and international markets, and attracting foreign direct investments."