Dubai Industries & Exports has been given the mandate to develop the emirate's industrial sector and consolidate efforts to make it a centre for industries of the future, according to the government.
The agency will also lead efforts to attract more domestic and foreign investment into Dubai's industrial sector, said Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and chairman of the emirate's Executive Council.
"Dubai Industries & Exports will continue to facilitate industrial activity and exports and work collaboratively with all shareholders to create a future oriented regulatory framework for promoting an innovative and capable industry," said Sami Al Qamzi, director general of Dubai Economy.
The move is in line with the Dubai Industrial Strategy 2030 that aims to make the emirate a global centre for knowledge-based, innovation-driven and sustainable industries.
The strategy includes 67 initiatives to lay the foundation for future industry in Dubai and add Dh 160 billion to the emirate’s gross domestic product through to year 2030.
The step is also part of UAE's 10-year national industrial strategy to expand the industrial sector and increase its GDP contribution from Dh133bn to Dh300bn by 2031.
Dubai Industries & Exports' scope has now been expanded amid the country's increasing focus on industrialization and the need to co-ordinate with various authorities on policies, initiatives and services for industrial development and export promotion.
The agency's immediate focus will be on meeting the post-pandemic needs of industries and launching the next phase of Dubai Industrial Strategy 2030, it said.
The agency will also hasten the diversification and global integration of local industry and promote industrial activities with high-added value.
The UAE's ambitious industrialisation targets mean opportunities for high-tech industries and small and medium enterprises to develop competencies in emerging disciplines such as research and development, clean energy, health care, biotech and space, said Mr Al Qamzi.