Nations with established industrial sectors are stronger, more resilient, highly skilled and better placed to deal with economic volatility. Throughout the Middle East national development plans now put significant emphasis on industrialization and manufacturing as part of economic diversification efforts. The UAE aims to boost the manufacturing sector contribution to GDP to nearly 20 per cent by 2021, up from 14 per cent in 2014. Saudi Arabia plans to create 450,000 manufacturing and industry jobs and localise $74b of content under its Vision 2030 programs.
For the region, industrialisation presents great opportunity for several reasons:
Catalyst Ventures is focused on emerging technologies within specific areas of regional industrial and manufacturing value-chains, that have compelling drivers and rationale for localization. We have worked on projects that include autonomous systems, additive manufacturing and robotics.