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Dubai gears up to launch new industrial strategy

Move to target attracting more FDIs into value-added activities and advanced technology fields, diversifying industrial sector and increasing exports

The government of the emirate of Dubai has been stepping up preparations to launch a new industrial strategy in the first quarter of 2016.

The plan will put manufacturing and light industries into focus in a bid to achieve economic integration, Al-Ittihad reports.

It also aims to create a more lucrative and attractive investment climate through the introduction of a set of initiatives and incentives in addition to attracting more competitive industries.

To this end, a working group, comprising the Jebel Ali Free Zone (Jafza) and the Dubai Industrial City, has been set up to devise the strategy, which is one of the things the Dubai government has been striving to put in place to boost the competitiveness and sustainability of the emirate’s economy.

The strategy will also target more foreign direct investments into value-added activities and advanced technology fields, in addition to diversifying the industrial sector and increasing exports.

Several other sub-working teams have also been formed, given the importance of this strategy and the need to consult with a wide range of strategic partners.

Dubai’s gross domestic product in the first half of the current year grew by 3.5 per cent at current prices to AED176 billion against AED170bn in the same period of 2014, according to data by Al Bayan.