Business | General
Manufacturing sector in UAE remains strong
Amid the global financial crisis, the UAE manufacturing sector grew at a rate of 15 per cent in the first three quarters of 2008 - a phenomenon that is pushing a growing number of existing companies and new investors to take advantage of Dubai's business-friendly environment, according to experts.
- Staff Report
- Published: 23:29 December 24, 2008
Dubai: Amid the global financial crisis, the UAE manufacturing sector grew at a rate of 15 per cent in the first three quarters of 2008 - a phenomenon that is pushing a growing number of existing companies and new investors to take advantage of Dubai's business-friendly environment, according to experts.
Further, the rising demand for tube products and the setting up of numerous industries is fuelling growth in these markets, acting as a magnet for investing in regional and international industrial centres.
"Dubai's free zones are home to some of the world's most recognisable brands across all industry sectors, including manufacturing where it has begun to make an impact in local and regional trade in the last few years," Satish Khanna, general manager at Al Fajer Information and Services and organiser of Tekno Tube Arabia, said.
"In fact, the development of Dubai Industrial City, a massive manufacturing and industrial complex covering 560 million square feet of prime land, is expected to boost the emirate's position as a regional hub in the sector."
TeknoTube Arabia, an international trade fair for industrial machinery, metalworking, and machine tools, the only specialised and established event of its kind in the Middle East, has helped foster this growth for the past 18 years and the show is offering an ideal platform for companies to gain inroads in the booming UAE market, as well as the rest of the region.
Khanna said there was a strong demand for machinery and industrial equipment and in the Gulf region alone demand was expected to grow at 20 per cent annually.
The manufacturing sector has been a traditional key driver of growth for many booming economies, most notably China, and has naturally become more competitive.
The four-day 18 year old exhibition, now on its 9th edition, has attracted leading companies from the entire gamut of industrial machinery, metalworking, machine tools including a special feature incorporated this year focusing on moulds and dies.
Organised by Al Fajer Information and Services, TeknoTube is scheduled for January 10-13 at the Dubai International Exhibition Centre.
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