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WHITE PAPER ON UAE's STATE OF MANUFACTURING<br />
The thrust is on diversification<br />
and reducing reliance on oil<br />
revenues, as well as on the<br />
creation of industrial clusters<br />
to boost economic growth and<br />
reduce urban congestion.<br />
The Dubai Industrial Park<br />
has been set up over an<br />
area of 55 square kilometres,<br />
and currently houses over<br />
680 companies. The overall<br />
profits of manufacturing<br />
companies in the UAE have<br />
been increased by nearly 50-<br />
100% in the past few years.<br />
The factors driving growth<br />
in the manufacturing sector<br />
include physical capital<br />
investment, greater exposure<br />
to trade, healthy competition<br />
in the sector, and aggressive<br />
advertising through various<br />
channels.<br />
The aviation industry is one<br />
of the hallmarks of the UAE’s<br />
diversified economy. With<br />
the world’s busiest airport<br />
in Dubai among three major<br />
international airports, UAE is<br />
one of the global leaders in<br />
the sector and further growth<br />
is expected in the field of<br />
aviation.<br />
In a survey by Cluttons,<br />
Dubai overtook London as<br />
the most preferred property<br />
investment location for 2017.<br />
In 2016, the total foreign<br />
investment in the Dubai<br />
real estate market was<br />
approximately $ 12 billion<br />
(Dh 44 billion).<br />
Brands from the UAE are<br />
fast establishing a name<br />
for themselves in global<br />
markets. RAK Ceramics is<br />
the world’s largest producer<br />
of ceramic tiles, with an<br />
annual production capacity<br />
of 110 million square metre and<br />
a turnover of more than $1 billion<br />
(Dh 3.6 billion). Headquartered<br />
in Ras-Al-Khaimah, UAE, the<br />
company’s network is present in<br />
more than 160 countries across<br />
the globe. Gulf Pharmaceutical<br />
Industries (Julphar) is the<br />
largest generic pharmaceutical<br />
manufacturer in the Middle East<br />
and North Africa (MENA) region.<br />
Emirates Global Aluminium<br />
ranks among the five largest<br />
primary aluminium producers<br />
in the world, with a production<br />
capacity of 2.34 million tonnes<br />
per annum.<br />
Many manufacturers are proudly<br />
carrying the Made in UAE label<br />
abroad, including Al Nassma<br />
and Camelicious, manufacturers<br />
of camel milk products. Strata,<br />
an Al Ain based manufacturer of<br />
aeronautic components for top<br />
global companies like Airbus,<br />
INNOVATIONANDTECH<br />
January | 2018<br />
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