Market

The total value of the UAE’s investments in the industrial sector stood at Dhs 80.42 billion (US$22 billion) at the end of 2008, a 3% increase compared to 2007, according to the Ministry of Finance and Industry (MoFI).

Dubai was in pole position in terms of industrial establishments accounting for 40.2% or 1,433 of the countries total. However, Abu Dhabi came in as the leading emirate in terms of the value of industrial investments, accounting for 54.8% of the total or DHs 38.5 billion (US$ 10.5 billion).

 “UAE nationals are now more attracted to invest in the sector as more than 86% of the investments were from UAE nationals, while foreigners accounted for the rest” said a report from UAE ministry of economy.

Joint ventures with foreign partners also increased substantially by 54.6% to 1,947 establishments.

Manufacturing and production is projected to be one of the fastest growing economic sectors in the GCC over the next five years with developers, manufacturers and producers seeking to generate investment in sectors that can provide direct employment. Abu Dhabi has attracted over Dhs 9 billion capital for industrial cities alone.