ABU DHABI: The Federal National Council (FNC), during a session led by Dr. Tariq Humaid Al Tayer, First Deputy Speaker of the FNC, recommended creating regulatory frameworks for industrial activities and the green economy, emphasising benefits and exemptions to support economic growth and sustainability.

The FNC discussed enhancing legislative and regulatory infrastructure for the industrial sector.

Speaking at the session, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, highlighted the achievements of the Ministry of Industry and Advanced Technology over the past three years since the launch of Operation 300bn, including the “Make it in the Emirates” initiative. The industrial sector’s contribution to the GDP grew from AED132 billion in 2020 to AED197 billion in 2023, with industrial exports rising from AED117 billion to AED187 billion, Dr. Al Jaber noted. These efforts created 16,000 jobs for Emiratis.

The FNC emphasised the need for collaboration with relevant entities to im
prove the UAE’s knowledge and advanced technology outputs. The council’s recommendations will be revised by the Financial, Economic, and Industrial Affairs Committee before being resubmitted for approval and forwarded to the government.

Source: Emirates News Agency