UAE manufacturing unaffected by global slowdown
Exhibitors at MEMEX upbeat about UAE non- oil industrial output – steady sales growth across the board for industry players
Exhibitors at the Middle East Manufacturing Exhibition (MEMEX) which opened on Sunday 23 November, at the Abu Dhabi National Exhibition Centre (ADNEC), are witnessing steady sales growth throughout the UAE manufacturing sector.
The UAE is investing heavily in its industrial manufacturing sector, stimulated by and the need to diversify away from the oil sector. The recent market fluctuations have reminded UAE policy makers that commodities are in for a roller coaster ride with slight variances in projected global demand for oil, being accentuated by volatile stock markets.
MEMEX is now regarded as `a key industrial component providing a platform for regional manufacturers to meet local, regional and international suppliers and due to the resilience of the overall UAE economy, the manufacturing sector is experiencing robust demand and increasing levels of investment.
Rejendra Thakore, Sales & Service Engineer, Thompson International, concurred with that sentiment, “The global slowdown has not affected our supply rates. So far our sales revenue growth is steady.”
However it is not just about physical manufacturing, public and private sector organisations are equally interested in consulting overseas experts according to Torsten Heck, Managing Partner at Stuttgart, Germany-based Fichtner Bauconsulting.
“Eng. Al Khaili the CEO of ZonesCorp visited our stand. He was impressed with the company’s profile and the key role German consultancies and their technologies play in the development of the UAE manufacturing industry. German companies are now involved in many projects throughout the UAE, it is a growth area for us,” he said.
According to official government figures the total cumulative industrial capital value of all non-oil and gas industrial projects in the UAE already exceeds $20 billion, creating 290,000 jobs.
“With the demand for finished products, undiminished, it is hardly surprising that the industry is witnessing these levels of investment,” commented Tim Wilson, Exhibition Manager, MEMEX.
“The latest economic estimates suggest that the UAE economy will still grow at around 4% next year. Admittedly that confirms that the UAE economy will slow next year, but it is healthy when compared with many of the industrialised western economies which will no doubt be in recession by then,” added Wilson.
MEMEX is showcasing leading industry suppliers from 16 different countries displaying over 100 brands. Main exhibit sectors include Machinery & Machine Tools, Welding, Joining & Heat Treatment, Automation & Robotics, Measuring Instruments, ERP solutions and Manufacturing Zones.
Running concurrently with MEMEX is the Industryscape conference, which is opening up debate and forming opinion on the future of the Middle East industrial landscape.
