Sunday, November 20, 2005

Total capital investment In Dubai’s manufacturing sector touched AED26.4 billion in 2005

The total capital investment in the manufacturing sector in Dubai touched AED26.4 billion as of January 2005, with the total value of production touching AED2.5 billion, according to a recent study of Dubai’s manufacturing sector conducted by the Department of Economic Development (DED).
The study also outlined the industrial policy for the Emirate, which is based on a long-term perspective of industrial development and envisages a gradual shift from labour intensive/ low-technology industries to capital intensive/ advanced technology industries by 2010. By 2030, Dubai aims to further focus on encouraging the growth of knowledge-intensive/ high technology industries.

“The development of indigenous industry in a country is a measure of its true economic growth,” said Mr. Khalid Al Kassim, Deputy Director General for planning and development, DED commenting on the study. “Dubai’s industrial policy, has been laid down with the objective of developing a sustainable manufacturing sector in the Emirate and focuses on developing key aspects of the economy, including focusing on export-oriented industrialisation and deepening the industrial structure by promoting selective industrial projects based on region's resources,” he added.

“Currently, the manufacturing sector provides employment to almost than 55,000 workers in various manufacturing sub-sectors. The industrial policy also has a significant focus on developing local Small and Medium Enterprises functionally linked to world markets and multinational enterprises and creating a pool of nationals for entrepreneurial, managerial and technical positions,” he added.

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