UAE to establish $272m national fund for industrial resilience

The United Arab Emirates will establish a national fund valued at 1 billion dirhams ($272m) to build industrial resilience, Prime Minister Mohammed bin Rashid al-Maktoum said in a post on X on Sunday.

The fund will support the localisation of vital industries, enhance supply chain resilience and accelerate the adoption of artificial intelligence technologies in production, operations and planning, the prime minister said.

The economy of the UAE has been hit hard over the past two months, as a result of direct Iranian air strikes on Emirati soil.