Photo for illustrative purposes only. ARCHIVE

UAE President Sheikh Mohamed bin Zayed Al Nahyan issued Federal Decree-Law No. 25 of 2022 governing industrial regulation and growth. The new law was enacted to aid in the organization and growth of the national industrial sector by enhancing the freedom to implement more supportive policies and give incentives. In collaboration with federal and local authorities, the legislation intends to be a major facilitator for the industrial sector, increasing its investment attractiveness and encouraging local and international investment in industrial operations. The new law will go into effect in January 2023 and apply to all industrial activity in the nation, including free, economic, and specialized zones. The legislation provides for developing a package of incentives and enablers for the industrial sector that support national strategic objectives for increasing industrial competitiveness. The decree-law strengthens the Ministry of Industry and Modern Technology's (MoIAT) responsibility to foster investment in the UAE and adopt advanced technology and Fourth Industrial Revolution solutions. Under the National In-Country Value Programme, MoIAT will assume a greater role in establishing future industries and fostering innovation and R&D. The legislation also promotes the purposes of international accords in which the UAE participates, such as those of the World Trade Organization. MoIAT will collaborate with its colleagues from the Industrial Development Council to complete the executive rules and provide information workshops for manufacturers on the law. The regulation will help various industries, including medicine, food, and medical and agricultural technologies, through the industrial register. It will also enhance some of the nation's most competitive industrial sectors, such as petrochemicals, iron, aluminum, and plastics while spurring future industries, most notably the hydrogen and aerospace sectors. The decree also supports the MoIAT's "Make it in the Emirates" initiative, which aims to strengthen the role of the private sector and attract industrial investors through various incentives and competitive advantages such as legislative and regulatory frameworks, logistical capabilities, financing solutions, export opportunities, comprehensive economic partnership agreements, bilateral trade agreements, and advanced technology adoption. The decree law is part of a package of initiatives adopted by MoIAT to promote the growth and worldwide competitiveness of priority sectors and to solidify the UAE's position as a global center for future industries. The UAE's industrial exports totaled Dh116 billion last year. To support the success of the UAE industrial sector, the government improved its quality infrastructure system, which comprises standard specifications, metrology, accreditation, and conformity assessment. BKM/ Expat Media
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