Manufacturing diversifies Abu Dhabi economy: Scad

The manufacturing industry continues to help drive diversification of the Abu Dhabi economy, according to a recent report by the Statistics Centre Abu Dhabi (Scad).

By Staff Report

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Published: Wed 24 Apr 2013, 10:36 PM

Last updated: Sat 4 Apr 2015, 9:34 AM

Manufacturing in 2011 accounted for 16.6 per cent of the total gross output of economic activities, second only to the oil and gas sector which led with 41.7 per cent. Mubadala Industry, a business unit of Mubadala Development Company, is supporting this shift to underpin the diversification of Abu Dhabi’s revenue sources. Through world-scale metals and mining businesses, and interests in the utilities sector, Mubadala Industry continues its contribution, says executive director Ahmed Yahia Al Idrissi.

Al Idrissi was speaking during a lecture at a knowledge-sharing platform organised by the Masdar Institute of Science and Technology. The lecture was attended by staff, faculty and students from the Masdar Institute. Dr Fred Moavenzadeh, president, Masdar Institute, said: “The support of the country’s leadership has enabled us to grow into an effective academic institution with the capability to host forums for the benefit of the wider community.”

Al Idrissi said: “Mubadala Industry pursues investment and development opportunities in capital, resource or intellectual property-intensive sectors that can contribute to the diversification of Abu Dhabi’s economy. Our objective is to favorably position the emirate in the fast-growing global resource markets. Our focus is to support the development of businesses in a range of strategic sectors for Abu Dhabi to make a significant contribution to non-oil GDP.” Mubadala Industry’s assets include Al Rusail Independent Power in Oman, Barka 2 IWPP in Oman, Emirates Aluminium (Emal), Suyadi - Jiangsu Suyadi Tancai Company in China, and Tabreed.

haseeb@khaleejtimes.com



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