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H.E. Mohamed Omar Abdullah, Undersecretary, Department of Economic Development Abu Dhabi (DED), underscored the importance of the manufacturing sector as a key component of Abu Dhabi's economic vision 2030 and the need to diversify away from the oil sector.
During the opening ceremony (Monday, 14 November) at Middle East Manufacturing Exhibition (MEMEX 2011), which is being held at the Abu Dhabi National Exhibition Centre (ADNEC), H.E. Mohamed Omar Abdullah, commented:
"The Abu Dhabi government continues to invest heavily in the manufacturing sector, such as Khalifa Industrial Zone and the ICAD zones. By developing this sector and increasing its productivity and competitiveness we will meet the objectives of the Abu Dhabi economic vision 2030."
According to the UAE Ministry of Economy, industrial investment hit a record of US$22.6 billion in 2010, supporting 143 projects, a 3.2 per cent increase over 2009 and a clear indication of its intent to grow its industrial manufacturing base, especially in Abu Dhabi.
To expand further
"The non-oil sector now makes-up 71 per cent of the UAE's GDP and with billions of dollars in investment the UAE government now aims to expand further into sectors such as renewable energy, nuclear technology and advanced industry," said Binu Pillai, Exhibition Director, MEMEX 2011.
Key sectors represented at the three-day MEMEX 2011 include metal fabrication, surface treatment, welding and cutting, machine tools and woodworking, with 70 per cent of exhibitors showcasing industrial machinery.
MEMEX 2011 is expected to attract over 5,000 trade visitors from across the Middle East and North Africa.