DUBAI: The United Arab Emirates government on Sunday launched the Fourth Industrial Revolution Network as part of its “50s plans” to promote the adoption of advanced technologies in the national industry.
The project, which will establish and develop 500 national companies with the technologies of the Fourth Industrial Revolution, is key to creating an attractive business environment to meet the needs of the local people. and international investors support the continued development of national industries, enhance their competitiveness, and improve the UAE’s position as a global target for future businesses with a global infrastructure and an expert and advanced technology workforce.
The network is made up of 15 top national technology adopters, designed to share knowledge, best practices and train 100 CEOs in the industry in the latest digital curriculum.
Adnoc, Strada, EDGE and Emirates Global Aluminum are successfully implementing the advanced technology of the Fourth Industrial Revolution in partnership with leading global technology development companies such as Siemens, Microsoft, Cisco and IBM.
focus on the match
As part of the “50 Plans”, the UAE government launched three initiatives designed to keep pace with the growing world economy and strengthen the UAE’s ability to become one of the most attractive countries for foreign direct investment Huh.
The 10×10 program aims to achieve 10 percent annual growth in the country’s exports in 10 key markets: China, the United Kingdom, the Netherlands, Italy, Russia, Poland, Luxembourg, Australia, New Zealand and Indonesia.
Through a combined system of incentives and benefits, the plan aims to achieve 14 per cent increase in total foreign investment (FDI) by 2030 and FDI growth towards countries with a target of 24 per cent by 2030.
The Government of the United Arab Emirates has announced the launch of a new portal – InvestA.i, which will act as an umbrella for all local investment related companies and 14 state economic entities and provide access to all investment opportunities in the UAE. will reveal. The portal also provides detailed information about the local investment environment, business and bank accounting services. It will also include success stories of entrepreneurs.
This electronic platform is designed to showcase the UAE to major international companies and unicorn companies (billionaires), and encourages major global assets of sovereign funds to invest in the country. It will help identify investors who are unable to invest in their home countries, communicate openly with them and encourage them to move their investments to UAE.
Emirates Investment Summit
The United Arab Emirates will host the Emirates Investment Summit, a global summit that will link public and private sector investment funds to create investment opportunities that will attract 50 billion dirhams over the next nine years. The summit, scheduled for the first quarter of 2022, aims to build a long-term partnership between the public and private sectors.
public value program
One of the key elements of the “50 Plans” is the adoption of a national household appraisal plan at the federal level, which will help remove procurement and contracting costs for the local economy. The project reflects the UAE’s commitment to improving the competitiveness of the national economy, promoting domestic products and supporting local small and medium enterprises.
The plan aims to create demand for local products and services by 2025, converting more than 42 percent of purchases by the federal government and major UAE companies into local products and services. 15 major national corporations, and increasing local suppliers from 5,000 to 7,300.
Implemented under the supervision of the Ministry of Industry and Advanced Technology, the project will help reduce the UAE’s reliance on import sector priorities, localize supply chains, support national industry, and increase manufacturing and industrial production.
5 billion dirhams to support Emirati projects
To help with the goals of the “50 projects”, the UAE government announced a 5 billion plan, with 5 billion dirhams allocated to support Emirati projects in priority sectors.