Government to boost industrial products contribution to GDP

Sultan bin Saeed Al Mansouri, UAE Minister of Economy, on Thursday affirmed that quality and conformance to international standards have allowed a number of UAE-based industrial products to achieve high credibility and significant market share across the global trade landscape.

By Staff Report

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Published: Fri 21 Feb 2014, 10:43 PM

Last updated: Tue 7 Apr 2015, 10:15 PM

The comments came during Al Mansouri’s visit to the Emirates AquaTech Caviar Farm, or EACF in Abu Dhabi. The world’s largest and most technologically advanced aquaculture farm, the Emirates AquaTech Caviar Farm has a capacity to produce 35 tonnes of caviar per year, which amounts to 10 per cent of the caviar produced globally. Spanning an area of 56,000 square meters, EACF gained recognition in November 2013 for producing the premium Siberian ‘Yasa Caviar’ as an exceptional high quality Emirati product.

The ministerial delegation comprised Abdullah Sultan Al Fan Al Shamsi, Undersecretary for Industrial Affairs at the Ministry of Economy, Mohammed Hassan Al Qamzi, CEO of the Higher Corporation for Specialised Economic Zones, Salem bin Mohammed bin Salem Al Dhaheri, an investor and board member of the Emirates AquaTech, Ahmed Al Dhaheri, general manager of Emirates AquaTech, Tariq Ahmed Al Marzooqi, director of Government Communications at the Ministry of Economy, and a number of senior officials. During the visit, Al Mansouri commended the Emirates AquaTech Caviar Farm as an important addition to the UAE’s industrial sector in general and the delicacy food industry in 
particular.

Emphasising that the strategy of developing the industrial sector in the UAE as a high priority to the Ministry of Economy as part of the UAE Vision 2021, Al Mansouri highlighted that the growth the sector has witnessed in recent years indicates the attractiveness of the national economy, its strength, diversity, the integrity of the legislative environment, as well as the durable and modern infrastructure.

Adding that the industrial sector’s contribution to the UAE’s GDP currently stands between 10-14 percent, he said the Federal Government is implementing an ambitious strategy to strengthen the sector’s contribution to the GDP and promote its role in achieving the UAE 2021 Vision. Al Mansouri highlighted the Ministry’s efforts in preparing a draft Bill to amend the Federal Law No. (1) for 1979 and streamline industry affairs.

— business@khaleejtimes.com


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