Page 43 - ECI PR REPORT - DECEMBER 2024

1/8/25, 10:14 AM UAE industrial sector: Cornerstone of sustainable economic growth - Eye of Dubai

He stated that the Industrial Development Council comprising federal, local, and industrial zone representatives, has played a
crucial role in streamlining industrial licensing procedures and implementing a new industrial law that eases licensing

requirements, particularly for SMEs.

Over the past few years, industrial financing has significantly expanded, with over AED 19 billion in competitive funding

provided by the Emirates Development Bank and other financial institutions.

In 2024, AED 9.5 billion in financing was allocated to the industrial sector, including AED 1.1 billion for advanced technology
and AED 1.8 billion in credit solutions provided by Etihad Credit Insurance.

The “Make it in the Emirates” Forum has achieved remarkable milestones across its three editions. By the end of 2023,
purchase agreements for locally manufactured products over a 10-year period had reached AED143 billion, covering 2,000
locally produced items. Additionally, manufacturing contracts worth AED62 billion were awarded, and over 300 products were

produced and purchased in quantities valued at approximately AED7 billion.

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