Investments up in the UAE
Investment in UAE industry is up and the government is targetting five per cent growth next year
Click here to add Abdullah Sultan Al Fan as an alert
Disable alert for Abdullah Sultan Al Fan,
Click here to add Economy as an alert
Disable alert for Economy,
Click here to add Ministry of Economy as an alert
Disable alert for Ministry of Economy,
Click here to add Mohammed bin Sultan Al Qassimi as an alert
Disable alert for Mohammed bin Sultan Al Qassimi,
Click here to add Sharjah Chamber of Commerce as an alert
Disable alert for Sharjah Chamber of Commerce,
Click here to add Sultan Al Qassimi as an alert
Disable alert for Sultan Al Qassimi
Investments in the UAE’s industries for the first half of this year reached Dhs. 124 billion, Abdullah Sultan Al Fan, assistant undersecretary for Industrial Affairs at the Ministry of Economy, told Gulf News.
About 5,300 industrial permits were issued so far in 2012 across the UAE, he said on the sidelines of the first Sharjah International Industrial Conference yesterday. Sharjah, one of the key industrial hubs in the country, issued 1,505 factory licenses this year.
The government is targeting a five percent growth in the number of industrial establishments in the UAE next year, Al Fan said.
Industrial products contributed Dhs. 2.433 billion to the UAE’s total non-oil exports in the first half of 2012, he said. The total value of the UAE’s non-oil exports were Dh79.19 billion during this period, according to the Ministry of Foreign Trade.
The ministry is currently in “semi-final” negotiations with local government bodies on a set of industrial regulations that aim to speed up business procedures, Al Fan added.
These regulations have been in the works for long. “It is not as quick as hoped,” he said. “The regulations will legalize procedures on things like custom exemptions. There will be less human intervention. There will be clear, transparent, systematic procedures.”
The International Industrial Conference, organized by the Sharjah Chamber of Commerce and Industry, discussed the future of local industry, its contribution to the economy and global industrial standards and trends.
In parallel to the conference, the third edition of the Made in Sharjah exhibition was inaugurated by Sheikh Sultan bin Mohammed bin Sultan Al Qassimi, Crown Prince and Deputy Ruler of Sharjah. The exhibition showcases local industrial products with the aim of stimulating industrial exports.
- Nip, tuck: Dubai's grand plans for being a major player in medical tourism
- Zain, UNHCR, Facebook to bring free internet access to urban refugees in Jordan
- Yemen Central Bank headquarters to relocate from Sanaa to Aden
- IMF report details the crippling economic effects of conflict in MENA
- Start Up Lebanon entrepreneurs head to Silicon Valley Roadshow
- Investments of 11 thousand Businesswomen reach 12 Billion DHs
- Why this UAE sector will grow 33 percent in less than three years
- Al Qassimi Publishing Issues the 2nd Edition of “Sard Al That” authored by the Ruler of Sharjah
- Eng. Sultan Bin Saeed Almansoori says the UAE - with a turnover of Dhs792billion from non-oil trade last year alone - is one of the best investment d
- UAE remains major player in Egypt's economy despite bad times