Prospects Remain Strong for Gulf Manufacturing and Industrial Sector, says regional expert
Amidst 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 the city’s business-friendly environment, according to experts.
Further, the rising demand for tube products and the setting up of numerous industries is fuelling the growth in these markets, acting as a magnet for investing in regional and international industrial centers.
Mr. Satish Khanna, General Manager, Al Fajer Information and Services, organizer of Tekno Tube Arabia, said: "Dubai's free zones are home to some of the world’s most recognizable 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."
Khanna added: "In fact, the development of Dubai Industrial City, a massive manufacturing and industrial complex covering 560 million sq ft 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 specialized 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 added: "Throughout nearly a decade, TeknoTube Arabia has given players in the manufacturing delivery chain the opportunity to exchange products, services and expertise. More importantly, each year our exhibitors bring new innovations that can help raise the standards for the manufacturing industry in the region.”
Mr. Khanna said there was a strong demand for machinery and industrial equipment, and in the Gulf region alone demand is expected to grow at 20 percent annually. “That is why TeknoTube Arabia has itself grown immensely over the years, having successfully provided exhibitors and visitors an opportunity to learn new technologies, meet suppliers, and engage potential customers in a single event,” he added.
The manufacturing sector has been a traditional key driver of growth for many booming economies, most notably China, and has naturally become more competitive. Newer technologies allow companies to differentiate, and those that fail to innovate could end up going bust.
Khanna added: "Investing on newer technologies and acquiring better expertise could help regional manufacturing and industrial companies become more competitive, and based on last edition’s turnout, more and more companies are investing in upgrading current technologies or raw materials used."
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 on January 10-13, 2009 and will take place at the Dubai International Exhibition Centre.