Government approves ambitious plan to drive Dubai industrial sector growth

A major plan was approved by the Executive Council to drive Dubai’s industrial sector growth. Under the leadership of Sheikh Hamdan, new initiatives will the industrial sector grow in Dubai as well as boost economic growth. This also included a policy for banning single-use plastics and incentives for the agricultural technology sector.

Through these initiatives, the government seeks to double the contribution of the industrial and agricultural technology sectors to Dubai’s economy over the next decade. Furthermore, these initiatives were in line with the objectives of Dubai Economic Agenda D33. Dubai will now target phasing out single-use plastics to promote climate awareness and sustainability. Earlier this month, Sheikh Mohammed announced 10 economic principles to drive the UAE’s economy.

Dubai’s Industrial Sector Growth 2024-2033

The plan aims to boost Dubai’s industrial sector growth by increasing manufacturing value by AED 58 billion which is equivalent to 2.5 times its current value. Three key programs are developed including the National, Special and Strategic to support manufacturing companies and ensure investments in infrastructure and capital facilities.

Research Konnection is one of the leading market research companies in Dubai. Contact us for support in market research, business planning and business setup in Dubai at hello@researchkonnection.com. 

Dubai’s Agritech Sector Growth 2024-2033

By 2033, the Executive Council also aims to double the size of Dubai’s agriculture sector. It announced a package focusing on investment benefits, fee exemptions, loan financing and facilitating local market entry for local producers. By doing so, the Dubai government aims to streamline agricultural licensing by offering exemptions from government fees and forming strategic partnerships to bolster growth. Additionally, the package is geared towards promoting the use of clean and renewable energy in agritech. Likewise, earlier this year, Dubai Master Plan 2040 was announced focusing on sustainability and urban agriculture.

Phasing Out Single-use Plastics 

The Executive Council also aims to phase out single-use plastics by 2026. The policy also includes tableware and styrofoam containers. The government aims to promote eco-friendly alternatives to single-use plastics by carrying out awareness campaigns.