The UAE cabinet approved a 1 billion dirham ($272 million) National Industrial Resilience Fund over the weekend, in one of the most expansive responses to the disruptions created by the Iran war to date. The vehicle aims to promote the local production of critical goods and make the country more self-sufficient.
War wasn’t mentioned in the official statements, but federal Prime Minister (and Dubai’s Ruler) Sheikh Mohammed bin Rashid said the aim was to “fully localize” more than 5,000 products — in areas such as food, metals, pharmaceuticals, advanced technology, and the construction industry. The first phase will focus on easily scalable production for items like bottled water, dairy products, and flour. Wider state spending will back up the initiative, with government bodies now obliged to buy more locally produced products.
In a sign some money is still available for less commercial projects, the government also announced a new national museum, the House of Industry, to document the development of local activity.