The UAE will host Expo 2020!
  • Arabic
Supported by the UAE National Media Council
We are in the process of developing and improving our website, and we invite you to participate in our brief survey to measure the level of your satisfaction
Satisfaction Survey For UAE Interact Website
رغبة منا بالتعرف على مستوى رضاكم عن موقعنا وبهدف تطويره وتحسينه، فقد قمنا بتصميم استبيان سريع لقياس مدى الرضا عن موقع دولة الإمارات العربية المتحدة روعي في تصميم الاستبيان أن يكون قصيرا وسريعا كي لا نطيل عليكم، وعليه نرجو منكم التكرم باستكماله عن طريق الرابط التالي
استبيان رضا المتعاملين عن موقع دولة الإمارات العربية المتحدة

UAE manufacturing sector steps up to the plate

posted on 30/11/2010: 3172 views


Mohamed Omar Abdullah, Undersecretary, Department of Economic Development in Abu Dhabi, (DED) opened on Sunday the Middle East Manufacturing Exhibition (MEMEX 2010) at the Abu Dhabi National Exhibition Centre.

DED is a leading strategic partner of MEMEX 2010. The manufacturing sector is a key component of the UAE's diversification strategy, stimulated by and the need to diversify away from the oil sector.

"The UAE government is considering industries which will increase industrial output and allow the UAE to compete on an international scale, sectors such as aluminium, steel and the petrochemicals, meet that criteria," said Jim Meltz, Group Director at IIR Middle East the organiser's of MEMEX 2010.

In 2009 the manufacturing sector represented 16.2% of UAE GDP and according to Sultan Bin Saeed Al Mansouri, the UAE Minister of Economy, it should increase substantially. "We're looking at up to 35% of industrial contribution to GDP in the next five years," he said in a recent interview.

"The UAE has to diversify its economy away from hydrocarbons. It was an encouraging sign that in 2009, the non-oil sector contributed more than 70% of the UAE's total GDP for the first time," said Binu Pillai, Exhibition Director, MEMEX 2010.

"Volatile markets and pricing, slow economic growth and increased investment into renewable energy, is encouraging GCC countries to diversify away from hydrocarbons to balanced and sustainable knowledge-based economies, " added Pillai.

Abu Dhabi has already announced 100% ownership for foreign companies in the multi-billion dollar Khalifa Port and Industrial Zone (KPIZ) in Taweelah. KPIZ is a multi-purpose facility strategically located between Abu Dhabi and Dubai. The project includes the construction of a world-scale container and industrial port and the development of over 100 square kilometres of industrial, logistics, commercial, educational and residential special economic and free zones.

The interesting aspect of KPIZ is that is close to the 140 square kilometre Dubai World Central designed to support Dubai's aviation, tourism, commercial and logistics and Jebel Ali Free Zone (JAFZ) one of the largest free zones in the world. Together they form a considerable free trade area, especially if Economic Zones World (EZW) which includes the hi-tech TechoPark is included.

Numerous industrial zones are also being created across Saudi Arabia including King Abdullah Economic City an industrial city to the north of Jeddah with initial investment of US$26.6 Billion. Bahrain is also planning a variety of industrial initiatives in the metals sector such as fifteen projects in the aluminium sector worth a total of US$142 Million. Qatar is looking to attract US$30 billion to drive its industry base.

MEMEX 2010, organised by IIR Middle East, has attracted 120 exhibiting companies, representing 400 brands from 16 countries. Over 3,000 decision makers from more than 25 countries are expected to attend, primarily from across the MENA region. – Emirates News Agency, WAM

RELATED ARTICLES

09 August 2016 Dubai Industrial Park opens 70 warehouses and storage spaces for lease
25 October 2015 Sharjah unveils Al Saja'a Industrial Oasis
07 October 2015 Dubai Industrial City registers 28% growth in revenue and 59% increase in gross profit
02 September 2015 Investments in the UAE industrial sector amounts to Dh127b
28 April 2015 Performance of industrial sector of Abu Dhabi continues to improve in first half of 2014


Most Read