DUBAI, 25th November, 2021 (WAM) -- The Global Manufacturing and Industrialisation Summit (GMIS) and Emirates Development Bank (EDB) have announced a partnership to accelerate the adoption of advanced industrial technologies and leverage the latest insights and resources from global manufacturers to promote sustainable economic development.
As a summit partner, the EDB will participate in the fourth edition of the GMIS2021 to raise awareness of its solutions as a key financial enabler for the global industrial sector, which serves as a driver for economic development, job creation, digital innovation, cross-functional collaboration, and skills development.
Ahmed Mohamed Al Naqbi, CEO of EDB, said, "Our new strategy focuses on catering to key priority sectors, including manufacturing, infrastructure, technology, healthcare and food security. We are continuously working towards enabling the industrial transformation and economic diversification agenda of the UAE by supporting start-ups and Small and Medium Enterprises (SMEs), which we believe are the key drivers of economic progress. We are proud to partner with a unique international platform like GMIS and support the expansion of the UAE's fast-growing manufacturing sector."
The EDB is also a partner of the UAE's National Strategy for Industry and Advanced Technology (Operation 300bn), a comprehensive and integrated national programme launched by the UAE Ministry of Industry and Advanced Technology to bolster the manufacturing sector and advanced technology adoption.
Under Operation 300bn, the EDB has allocated AED30 billion to support specific priority industries over five years.
As part of the UAE's Projects of the 50 - a series of developmental and economic projects that aim to transform the UAE's development into a comprehensive hub in all sectors - the EDB also launched two new initiatives to accelerate industrial growth, the adoption of advanced technology, and entrepreneurship and innovation in the country.
In an increasingly interconnected world, governments are embracing the Fourth Industrial Revolution technologies such as Artificial Intelligence (AI), Robotics, and Additive Manufacturing, to boost performance, shape new business models, and drive sustainable growth. With smart technology solutions becoming more mainstream, manufacturing enterprises are expected to undergo largescale transformations, rendering services that are more agile, flexible and responsive to customers while automating routine tasks.
#GMIS2021 will organise discussions and debates around the potential of disruptive technologies such as AI, Cloud and 3D Printing to revolutionise the manufacturing sector.
Badr Al-Olama, Head of the GMIS Organising Committee, said, "Disruptive technologies such as Cloud Computing and the Internet of Things (IoT) are at the heart of improving manufacturing processes, driving an array of benefits to the industry as a whole. We are delighted to welcome the EDB as a #GMIS2021 partner and look forward to jointly spearheading discussions on how cutting-edge innovation is set to shape the future."