The UAE’s big and bold industrial strategy, “Make it in the Emirates,” has become a catalyst for transformation—fueling SME growth, boosting local production, and attracting global manufacturers. In this EXCLUSIVE Q&A, Alex George, Managing Director, Al Ostad Pallet Factory shares frontline insights on how the initiative is unlocking opportunities, reshaping supply chains, and accelerating the country’s push toward a competitive, future-ready industrial landscape.
ER- How has the “Make it in the Emirates” initiative contributed to strengthening the UAE’s manufacturing and industrial landscape?
ALEX- It’s been a greatly productive initiative, as it strengthens the foundation of the economy through GDP growth and raising employment, especially among the local population. It also gives incentives for management to upskill their labor force to adapt to changes like AI and industrial innovations. The SME (Small and Medium-sized Enterprise) sector is a key building block for the economy, as it always brings about change and innovation.
With the additional support from the UAE government to produce in the emirates, the small and medium-sized sector stands to gain a tremendous amount of momentum. Earlier, we saw a general movement of capital towards large cap businesses because of the lower risk to lenders, but we are now seeing active interest from banks to help companies with their capital needs for the small segment.
At Al Ostad Pallet Factory, we are seeing great interest from banks to help support our expansion, especially when it comes to upgrading our industrial equipment and assets on the ground. This wasn’t the case earlier, and there’s no doubt this government initiative is a good one.
ER- How has your sector seen growth, as a result of the initiative and the policy incentives?
ALEX- We’ve seen a remarkable increase in the amount of interest coming our way.
At Al Ostad, we produce pallets, which are a fundamental part of the supply chain. So, an increase in our business will always mean an increase in the country’s industrial output. For instance, it’s similar to how Caterpillar’s revenue reflects the construction activity in a market.
As I mentioned earlier, the greatest change we have seen is the interest from lenders. They are being very supportive with capital for any expansion plans we might have, which means they have higher targets now for lending to the industrial sector.
Industry is always the bedrock of GDP, so any increase in scale would help the economy a great deal. Also, the adoption of new technologies – especially AI – will help with a lot of scaling up. It’s definitely going to be an interesting shift in the next couple of years.
ER- What is the overall impact of “Make it in the Emirates” on local companies to enhance competitiveness, and reduce dependence on imported goods?
ALEX- Everyone’s embracing new technology and sustainability now. I hear these words being used a lot now with local manufacturers. So the vision is there, which means it’s just a matter of time before it becomes reality.
The AI-related shifts are also incredible, with companies taking small steps now to increase employee productivity, and bigger changes are on the horizon.
We’ve just moved operations to an 8,000-sqm facility in Dubai Industrial City, and I’m trying to get an additional 8,000 sqm, but it’s completely sold out for now. We are waiting for the new phase to open, and formally expressed an interest in writing. A lot of the demand is now coming from international firms like Unilever and P&G, and household brands, that want to set up a manufacturing hub to better serve the region.
ER- How is “Make it in the Emirates” supporting SMEs, entrepreneurs, and start-ups in scaling production and entering global markets? Describe the larger scenario on UAE imports and exports.
ALEX- Definitely on the lending front. The bigger challenge for entrepreneurs and SMEs is access to capital. They have the ideas, and now need the money. They are typically highly driven towards scaling up, and the limitation is capital.
Once they have access to capital, they can focus on making their vision a reality. Most of them are willing to work hard, and if the money woes are taken away, they normally have the drive and focus to bring their vision to life.
Wouldn’t it be really cool if a product branded locally made waves worldwide? Like what’s happening now with Dubai chocolate? Someone told me pistachio prices have gone up as a result. I’ve had visitors in Dubai asking me to help them find some to take back home.
You never know what else could suddenly sprout wings and fly. Deglobalization is definitely happening, and we are bringing our manufacturing back home.
ER- What long-term economic and sustainability impact will the UAE see through this initiative?
ALEX- Companies will have an environmental audit to reflect on their carbon footprint. Huge industries are taking on a net-zero initiative, to be completed in the next 15 to 20 years.
A lot of this will also depend on them buying carbon credits. Large-scale industries cannot stop their hydrocarbon needs, and hence, will have to depend on buying credit from smaller industries. This incentivizes small companies to take care of their emission standards to bank credits. Sustainability goals are a big part of this. So we keep wastage down, be energy efficient, look after our human resource, and keep checking how our operations are impacting the environment. All these will help with a cleaner planet, which is our most crucial long-term goal.
