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UAE aims to boost manufacturing sector
Monday, 18 July 2016
Sultan bin Saeed Al Mansouri chairs Industrial Coordination Council’s meeting at the Ministry of Economy’s headquarters in Dubai
4 working groups established to conduct research on viable solutions.
The UAE is looking to increase share of the manufacturing sector in the country’s GDP to nearly 20 per cent by 2021.
This was discussed at the recently-held meeting of the Industrial Coordination Council’s meeting at the Ministry of Economy’s headquarters in Dubai under Sultan bin Saeed Al Mansouri, Minister of Economy.
The meeting discussed how to raise manufacturing sector’s share in GDP from 14 per cent in 2014 to 20 per cent in 2021 and increasing manufacturing capacity by improving the country’s ranking in the industry economic integration indices.
Participants discussed the strong competitive advantages also enjoyed by UAE industry in several sectors, including base metals such as gold; chemical industries such as polymers; food and beverages; aircraft; motor vehicles and trailer equipment; various metals and machinery; rubber and plastics; metallic and non-metallic mineral products such as cement, glass and ceramics; and paper products, furniture, wood products and cork.
The Council agreed to set up four working groups spanning the task of each of them for two months from the date of their formation to implement the tasks and functions of the Council at the federal and local levels. The groups will conduct research on viable solutions and undertake the necessary studies and work to overcome obstacles to the ongoing development of the industrial sector.
Abdullah Bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade and Industry Affairs, and Abdullah Sultan Art Shamsi, Assistant Undersecretary for Industrial Affairs at the Ministry, were also present.