NEWS

Abu Dhabi plastics sector creates $55bn investment opportunities

Wednesday, Aug 02, 2017

The 201 plastics plants operating in Abu Dhabi, UAE are generating investments in excess of Dh204 billion ($55.5 billion), according to the Industry Development Bureau of the Abu Dhabi Department of Economic Development (ADDED).

The revelation came during a workshop organised by the bureau as part of the ADDED's 'Industry Dialogue' initiative, aimed at bolstering an investment-conducive environment at the industrial sector and cementing channels of communications between manufacturers, reported Wam, the Emirates official news agency.

"Among its multifaceted strategic objectives, Abu Dhabi Economic Vision 2030 lays a special focus on non-oil sectors as part of the economic diversification programme which is premised to ensure a sustainable development drive, the mainstay of which is the industrial sector," said Khalifa Bin Salim Al Mansouri, ADDED acting under-secretary.

"The Industrial Dialogue initiative fits within the Industrial Development Bureau’s role to chart a strategic path for the industrial sector by empowering and engaging different official and semi-official departments along with private sectors companies to contribute to enhancing the emirate’s competitiveness and boost its Gross Domestic Product," he explained.

Increasing the emirate’s GDP and enhancing the efficiency and added-value of processing industries while ensuring a business-friendly, innovation-based environment and protecting patent rights are on top of the Bureau’s priorities, he maintained.

In order for these objectives to gain traction, the ADDED spares no effort to enhance direct channels of communications between owners of industrial facilities in order for them to keep abreast of the challenges besetting the industry and help them develop efficient solutions thereto, Al Mansouri noted.

He singled out the plastics industry as one of the main industrial platforms in the emirate which stands on the same footing of importance with other heavy industries, including steel, aluminium and petrochemicals.

The workshop occasioned a review of plastic products manufacturers’ opinions and suggestions to develop the industry in the best possible way before referring them to the ADDED management for review and possible implementation.

 

Source:tradearabia.com

Other News