Dubai: The industrial sector’s contribution to Gross Domestic Product (GDP) is expected to reach 25 per cent by 2025, UAE Minister of Economy Sultan Al Mansouri has said.
“Currently, the industrial sector contribution to the total UAE GDP is estimated at 10 to 11 per cent. By 2020 this figure is targeted to increase up to 20 per cent in 2020 and up to 25 per cent in 2025,” he told Gulf News.
This is in line with the UAE’s strategic development plan to implement economic diversification away from oil over the coming years, Al Mansouri added.
To achieve these targets, he said that government should focus and support certain industries that suit the nature of the UAE’s markets and resources.
“Petrochemicals, aluminium, glass, steel and its downstream industry should be the cornerstone for the UAE’s drive to establish an industrial footprint,” he said.
Al Mansouri also said that the food industry and information technology is growing in the UAE as well, with good returns across these sectors.
“The infrastructure of the UAE and mainly the industrial zones allocated in Abu Dhabi and Dubai and the other emirates are playing a remarkable role in attracting foreign investment and expertise as well as enhance the performance of this sector overall,” he said.
While legal infrastructure represents the backbone of any market, Al Mansouri said: “The revision of industrial law and investment law, which are expected to release soon, will provide the right environment to ease investment in this field.”
Al Mansouri made these remarks on the sidelines of the inauguration ceremony of a new manufacturing plant for Can-Pack Group at the Dubai Investment Park.
Located on 150,000 square feet, the facilities will increase the company production from 3.5 million cans to 5 million cans per day.
The new investment, which is estimated to have cost Dh200 million, is increasing the company’s overall investment in Dubai to Dh500 million while further expansion worth Dh70 million is also underway and expected to be completed this year.
Can-Pack Group’s is mainly based in Poland and has over 38 plants located across Europe, Middle East, North Africa and Asia. Coca-Cola, Pepsi, Heineken, Carlsberg, SAB-Miller and InBev are their main clients.
“While Saudi Arabia is the most competitive in the region in terms the cost of doing industrial business, the overall business package provided by the UAE is perfect for our business,” Michal Sloniec, Managing Director of Can-Pack Middle East, told Gulf News.
Dubai’s location, logistics, legislation and infrastructure provide an ideal supply gateway to different market including GCC, India and subcontinent, Middle East and South Africa, he added.
