In 50 years, the UAE has made remarkable progress in numerous and diverse fields, ranging from AI to health care and leaps made in the national space programme. However, there is more that can be done to harness industrial growth and manufacturing within the country.
Earlier this year, at the World Government Summit in March, Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, said that the industrial sector is key to the country. Speaking candidly of the lessons derived from the pandemic and laying a roadmap for local supply chains, Sheikh Mansour spoke of how the pandemic had highlighted how few sources of food and medicines were produced in the Emirates. “We have to focus more on the industrial sector and support it even more. We have ambitious projects and we must set the priorities.”
Already addressing this need, the Operation 300bn strategy was launched last year. The growth of small and medium enterprises in the UAE was deemed essential, with a push to expand key sectors, including petrochemicals, plastics and metals, and further develop industrial bases for food, water and health care.
In line with this strategy, this week’s "Make it in the Emirates" forum in Abu Dhabi outlines further the importance of producing locally and giving a renewed push to manufacturing in the country. The forum, which kicked off yesterday and continues today, was a meeting point for public and private sector players to drive industrial growth. Ambitions to achieve such self-reliance are inherently linked to nation-building and the further strengthening of the UAE's global identity.
As is well known, the UAE is often called a major international logistics hub, thanks to its proven capabilities and geographical positioning, having time and again topped surveys. The UAE is unique in the combination of enablers, like the ease of doing business, strategic location and efforts at reducing costs for business. Now, with the rigorous impetus being given to manufacturing, the UAE is transforming itself also into a centre for industry in the coming decade.
Already the UAE has a vast production output, in areas such as aluminum, defence equipment and polyolefins, used to make plastic, and ceramics. There is in the food sector, Al Khaleej Sugar factory, among several others.
There are over 300 products available in the 11 priority sectors for local manufacturers as “primary targets for localising our industry”, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, said at the forum. "Now is the time to step up our engagement collectively within the sector."
With the boost that attracting foreign investment and manufacturing locally will provide to the economy, the country will be set on a sustainable path to progress.
“We have put together all incentives and enablers to help you take advantage of multiple business and industrial opportunities,” Dr Al Jaber told the participants from key entities and companies. “We have brought together with national champion companies who are offering Dh110 billion [$30bn] in purchasing agreements. We must take advantage of this opportunity."
With some great success stories in the UAE of industrial companies thriving, the country's Make it in the Emirates push will further stimulate the local economy. As well as increasing output of locally made products and creating room to local suppliers to multiply the scope of their business, there will be investment in research and development in the UAE, and efforts to incentivise the adoption of advanced technology in the Emirates.
With plans etched out, the UAE already has the roadmap, systems, resources and talent to achieve this goal.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Western Region Asia Cup Qualifier
Results
UAE beat Saudi Arabia by 12 runs
Kuwait beat Iran by eight wickets
Oman beat Maldives by 10 wickets
Bahrain beat Qatar by six wickets
Semi-finals
UAE v Qatar
Bahrain v Kuwait
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
COMPANY%20PROFILE
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Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Inside%20Out%202
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Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
Five expert hiking tips
Always check the weather forecast before setting off
Make sure you have plenty of water
Set off early to avoid sudden weather changes in the afternoon
Wear appropriate clothing and footwear
Take your litter home with you
SHADOWS%20AND%20LIGHT%3A%20THE%20EXTRAORDINARY%20LIFE%20OF%20JAMES%20MCBEY
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Racecard
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Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Summer special
COMPANY%20PROFILE
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The biog
Job: Fitness entrepreneur, body-builder and trainer
Favourite superhero: Batman
Favourite quote: We must become the change we want to see, by Mahatma Gandhi.
Favourite car: Lamborghini
Results
2pm: Maiden (PA) Dh 40,000 (Dirt) 1,200m, Winner: AF Thayer, Tadhg O’Shea (jockey), Ernst Oertel (trainer).
2.30pm: Maiden (PA) Dh 40,000 (D) 1,200m, Winner: AF Sahwa, Nathan Crosse, Mohamed Ramadan.
3pm: Handicap (PA) Dh 40,000 (D) 1,000m, Winner: AF Thobor, Szczepan Mazur, Ernst Oertel.
3.30pm: Handicap (PA) Dh 40,000 (D) 2,000m, Winner: AF Mezmar, Szczepan Mazur, Ernst Oertel.
4pm: Sheikh Hamdan bin Rashid Al Maktoum Cup presented by Longines (TB) Dh 200,000 (D) 1,700m, Winner: Galvanize, Nathan Cross, Doug Watson.
4.30pm: Handicap (PA) Dh 40,000 (D) 1,700m, Winner: Ajaj, Bernardo Pinheiro, Mohamed Daggash.
Company%20Profile
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Company%20Profile
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The%20specs
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
SPECS
Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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SPEC SHEET
Display: 6.8" edge quad-HD dynamic Amoled 2X, Infinity-O, 3088 x 1440, 500ppi, HDR10 , 120Hz
Processor: 4nm Snapdragon 8 Gen 1/Exynos 2200, 8-core
Memory: 8/12GB RAM
Storage: 128/256/512GB/1TB
Platform: Android 12
Main camera: quad 12MP ultra-wide f/2.2, 108MP wide f/1.8, 10MP telephoto f/4.9, 10MP telephoto 2.4; Space Zoom up to 100x, auto HDR, expert RAW
Video: 8K@24fps, 4K@60fps, full-HD@60fps, HD@30fps, super slo-mo@960fps
Front camera: 40MP f/2.2
Battery: 5000mAh, fast wireless charging 2.0 Wireless PowerShare
Connectivity: 5G, Wi-Fi, Bluetooth 5.2, NFC
I/O: USB-C
SIM: single nano, or nano and SIM, nano and nano, eSIM/nano and nano
Colours: burgundy, green, phantom black, phantom white, graphite, sky blue, red
Price: Dh4,699 for 128GB, Dh5,099 for 256GB, Dh5,499 for 512GB; 1TB unavailable in the UAE
Company%20profile
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Company%20Profile
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What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Kamindu Mendis bio
Full name: Pasqual Handi Kamindu Dilanka Mendis
Born: September 30, 1998
Age: 20 years and 26 days
Nationality: Sri Lankan
Major teams Sri Lanka's Under 19 team
Batting style: Left-hander
Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)
