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Monday, 14 November 2016

UAE seeks to attract over $70b in industrial investments by 2025: Economy Minister | GulfNews.com

UAE seeks to attract over $70b in industrial investments by 2025: Economy Minister | GulfNews.com:
"The UAE seeks to attract more than $70 billion (Dh256.9 billion) in industrial investments by 2025, a senior government official said on Monday.

The investments will help increase the share of the industrial sector in the country’s GDP to 25 per cent, up from the current 16 per cent, and ensuring the industrial sector will become the driving force in the country’s economic growth, Sultan Bin Saeed Al Mansouri, Minister of Economy, said in a statement to the Emirates News Agency (WAM).

According to Al Mansouri, the slump in global oil prices has not had any significant impact on the UAE’s development as the share of non-oil sectors in the country’s economy stands at 69 per cent of GDP. He added that the limited impact of oil was further evidenced by the Cabinet’s recent approval of the new budget."

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