Dubai: Dubai’s industrial sector has seen “significant progress” this year, following the implementation of the Dubai Industrial Strategy, the emirate’s government said. According to a statement on Sunday from the Government of Dubai, under the strategy, the industrial sector is expected to grow by an additional Dh18 billion by 2030, creating 27,000 jobs, with exports forecast to increase by Dh16 billion.

The strategy is also projected to increase Dubai’s total gross domestic product (GDP) by Dh165 billion by 2030.

The strategy was launched last year by Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and entered the implementation phase earlier this year.

In 2016, the growth rate in Dubai’s industrial GDP reached 3.4 per cent in 2016, jumping from the 0.6 per cent recorded in 2015.

The strategy prioritises the development of aerospace, maritime, aluminium and fabricated metals, pharmaceuticals and medical equipment, fast moving consumable goods, and machinery and equipment industries.

Strategy

“These initial indicators are a reflection of the industrial sector’s increasingly strong performance … It indicates to us that Dubai’s economic model is a sustainable one, underpinned by a diversified base of economic activity, and enhances our resilience, in line with key aims of Dubai Plan 2021,” Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and CEO of Emirates airline and Group, in his capacity as Second Deputy Chairman of The Executive Council and Chairman of the Economic Development Sector Committee, said in a statement.

He added that the industrial strategy has already helped facilitate industrial exports, with expectations for exports to grow further.

Initiatives that have already been completed since the implementation include the launch of Industrial Aerospace hub by Dubai South, launch of SkyPharma by Emirates SkyCargo, and inauguration of a personal care products manufacturing plant by Unilever.

The industrial strategy is expected to also increase the total output of the manufacturing sector, make Dubai a preferred manufacturing platform for global businesses, and make Dubai a hub for global Islamic products market.