Investment Accelerates in UAE Industry

The UAE seeks to diversify its economic base in the years ahead

Investment in industry in the UAE increased in 2010 by over 29 billion AED, an increase of over 35%, according to UAE economic minister Sultan Bin Sayed Al Mansouri. The increase reflects a national strategy to increase the industrial sector of the UAE’s economy to 25% over the next several years. In an Economic Ministry paper, reported by Al Bawaba, there were about 4960  industrial establishments operating in the UAE by the end of 2010, with an  investment volume of over 101 billion AED, distributed all over the UAE. That figure represents an increase of 316 facilities compared with 2009 number of 4644  facilities with an investment volume of 81 billion AED.