Dubai is scaling up efforts to transform itself into a global industrial and manufacturing hub and attract major investments across key sectors such as aerospace, pharma and medical equipment, to name a few. This is in line with the Dubai Industrial Strategy 2030, which projects an additional $5 billion in industrial sector growth by the year 2030.
In the past 10 years, the contribution of Dubai’s industrial sector to its GDP has been around 11-14%, making it the third largest sector, after trade and logistics. It has continued to demonstrate solid growth even during times of global crisis, buoyed by a range of strategic government initiatives and programs, such as the Dubai Industrial Strategy, to boost the global competitiveness of the sector and attract foreign investments.
Global as well as Indian companies, including India’s Himalaya Wellness, have built manufacturing facilities and research and development centres in Dubai. Himalaya Wellness, which is a global manufacturer of pharmaceuticals, herbal, and personal care products, signed an agreement to build a 120-million-dirham herbal pharmaceutical factory in Dubai Industrial City, with the commercial production of the plant set to begin in the first quarter of 2024. The city is home to more than 750 businesses and hundreds of advanced factories using fourth industrial revolution technologies to make everything from car parts to coffee.