The Ministry of Industry and Advanced Technology (MoIAT) has launched the Industrial Census project, in collaboration with the Federal Competitiveness and Statistics Centre (FCSC), the members of the Industry Development Council, and the local statistics centers.
The project aims to create a comprehensive database of all establishments that practice industrial activities according to the International Standard Industrial Classification of All Economic Activities, including those operating in free zones, whether their licenses are industrial or non-industrial.
The move is in line with the Federal Decree-Law regarding the regulation and development of industry and Ministerial Decisions, regulating the process for industrial establishments to provide MoIAT with their information.
As part of the project, MoIAT will provide industrial companies and establishments with a reliable and flexible mechanism to participate in the census and submit their information.
The project will help create new investment opportunities for manufacturers, investors, and owners of industrial companies, as well as help decision-makers track, assess and enhance the competitiveness of the industrial sector and inform related future policies and decisions that make the sector flexible. The project is in line with the national strategy for industry and advanced technology, Operation 300 billion, which aims to help create a business environment that attracts local and international investments in the industrial sector and boosts the growth and competitiveness of national industries.
“The project is in line with directives of our leadership to develop the industrial sector in the UAE and boost its contribution to national GDP. To achieve the objectives of the national strategy for industry and advanced technology, MoIAT, in partnership with FCSC, local authorities, and free zones, plays a pivotal role in creating an enabling legislative framework that supports the industrial sector and helps to attract local and foreign investments.”
Mr. Al Jaber added that “As accurate data plays an important role in increasing the country’s global competitiveness, the Industrial Census project is a key step in developing a centralized national database for the industrial sector. The project supports efforts to build a knowledge-based economy that promotes innovation, research and development (R&D), and future growth opportunities. It will also contribute to the adoption of circular economy principles, help integrate producers and manufacturers in the national economy ecosystem and promote the growth of local supply chains.”
The project aims to measure the industrial sector’s performance and contribution to national GDP to help upscale local industrial capabilities and promote integration between government entities and stakeholders by exchanging related information. It will also improve the sector’s readiness and business continuity, especially during crises, and enhance the UAE’s ranking in international economic competitiveness indicators, including those related to food and medicine security.
Ms. Hanan Ahli, Director of FCSC, said that “The UAE leadership is committed to developing the industrial sector as a main contributor to our national economy. The importance of the Industrial Census project lies in making available accurate and up-to-date information on the status quo of our industrial companies and establishments. In turn, this informs the decision-making process and helps the government launch targeted initiatives and projects that enable the industrial sector and increase its share in the country’s non-oil GDP, which accounted for 11 percent in the first nine months of 2022.”
Related: UAE Federal Tax Authority launches pre-registration for corporate tax