Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai announced the launching of a new industrial strategy titled “Operation 300bn”. The 10-year strategy seeks to empower and build the country’s industrial sector, increase its GDP contribution to AED300 billion by 2031, and contribute to sustainable development. “Operation 300bn” will update the country’s Industrial Law to support local entrepreneurs and attract foreign direct investment. It also encourages the UAE’s highly diversified business sector to move towards industrial projects and contribute to the development of local industries across the country. “The industrial strategy will achieve a giant leap in the UAE’s industrial sector to become the main driving force of the national economy and lead the journey of our next 50 years with greater confidence and speed,” Maktoum said.

Source: Egypt Independent March 24, 2021 12:22 UTC