UAE authorities offer solid support to construction industry

The impact of the global financial crisis on the economically vital construction sector in the United Arab Emirates is to be assessed at a federal government level seminar next month, it was revealed yesterday.

Details of the special seminar in Abu Dhabi under the patronage of HE Sheikh Hamdan bin Mubarak Al Nahyan, the UAE Minister of Public Works, emerged on the sidelines of The Big 5, the region's biggest trade fair for the building and construction supply industry taking place at Dubai International Exhibition and Convention Centre.

"The whole industry will welcome this high level review of a sector which has such a vitally important role in the economy of the UAE," said Simon Mellor, Vice President Construction for show organisers dmg world media. "It comes at a time when UAE authorities are providing solid support for the sector.

"This year more than 3200 companies eager to secure business in the region are exhibiting at The Big 5. They are all aware that this is a region where 6% growth (UAE) is expected next year despite the global economic downturn.

"Global recession is forcing international companies to increasingly seek work outside of their home countries providing Middle East companies with greater competition in a region where governments remain committed to maintaining strong infrastructure growth in the face of the slowdown."

The special seminar to be held on 24 December 2008 is being supported by the UAE Contractors Association - a voluntary body consisting of 730 member companies - which describes the construction sector as "one of the mainstays" of the UAE economy over recent decades. The association is participating in The Big 5.

Commenting on the impact of the global financial crisis on the construction sector in the UAE, Khalfan Al Ka'abi, Head of the Contractors Committee of Abu Dhabi Chamber of Commerce, said:

"...everyone expects that construction projects underway will continue as planned. The UAE economy remains strong and we will continue working with all contractors to help achieve their goals."

Alongside The Big 5 exhibition is The Big 5 PMV - The Middle East's premier construction plant, machinery and vehicles at the same venue. Exhibitor numbers have increased by 70% at this year's Big 5 PMV, 85% of which are international companies. The Big 5 PMV features an outdoor arena covering an area of 40,000 square metres.