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Sheik Abdullah bin Fahid Al Shakrah, Chairman of Al Hanoo Holding and Emirates Industrial Cities Company said,
"Recently, investors have been keen to invest in new areas. A lot of these investors have chosen the industrial sector, increasing the number of licenses, industrial facilities, workers, and types of industrial facilities. This clearly shows that the UAE is not exclusive to real estate investment, but is also active in all sectors".
Al Shakrah, whose company is developing "Emirates Industrial City", a project aspiring to facilitate investors' industrial activities, said "The country has been very supportive of investors through the many facilities the country offers, as well as the country's continuous efforts to overcome any obstacles with sound legislations that make the UAE a safe haven for investments".
Statistics, issued last year, reported an increase in industrial activities of Dhs249m in the emirate of Sharjah by the end of 2008, compared to 2007's figure of Dhs4.039bn. Therefore industrial activities amount to a total of Dhs4.288bn, with an annual growth of 6.2%.
The annual number of workers in the industrial sector has also increased by 3,940 to 77,564 workers, compared to 73, 624 in 2007, with a growth rate of 5.4%. The number of workers is expected to increase further due to the current fluctuations of the property market, with investors going for new types of investments in the industrial sector.
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Posted by Rima Ali Al Mashni
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