SCCI meets manufacturing representatives to discuss sector's enhanced role in local GDP growth

The event was attended by SCCI Director General Hussein Mohammed Al Mahmoudi and SCCI Assistant Director General for Membership and Branches Affairs Khalid Bin Buti Bin Obaid.

The SCCI emphasized the major role of the manufacturing sector in Sharjah's economic growth, pointing out the positive impact of the chemicals and petroleum products trades in particular in increasing the returns of non-oil industries. It added that the manufacturing sector was a key contributor to the UAE's economic growth, accounting for 84 per cent of the total industrial sector revenues.

The Chamber outlined available investment opportunities in the manufacturing field, which accounts for 17.84% of Sharjah's GDP, and discussed strategies for the sector to achieve sustainable industrial development. It also explored the major challenges faced by the manufacturing sector, particularly in industrial investment, amidst the ongoing economic crisis.

Hussein Mohammed Al Mahmoudi said:

"Manufacturing is vital to the emirate's growth. It contributes significantly to the local GDP; attracts labour; minimizes the unemployment rate; increases industrial capital and domestic investments; promotes emiratisation; and boosts the national income. We shall thus extend our utmost support for this industry and leverage its potential and abilities in order to achieve growth that can overcome the effects of the global financial crisis."

"The Chamber shall focus on the industrial regions of a number of cities, such as Dhaid, Kalba and Khorfakan. We intend to support industrial facilities, develop key infrastructure, and help provide the required legal framework to facilitate local and foreign investments. We will also provide industrial areas with qualified national personnel who meet the highest international standards and encourage a more competitive environment throughout the emirate," he added.

Sharjah's manufacturing sector comprises the nine key segments of food and beverage; weaving, textile, and readymade garments; leather, wood, woodwork and furniture; paper and paper products and printing; chemical and chemical products; oil, rubber and plastic products; metal and non-metal raw material products; metal products; and machinery and other manufacturing equipments. The total value of industrial production in the emirate is Dhs19bn, coming from 19 industrial zones and two free zones among 1,614 facilities.

SCCI's seventh monthly business breakfast is part of a series of periodical meetings organised by the Chamber with its associate members. These gatherings discuss plans and strategies for developing the private sector; study leading practices and concepts that support the emirate's vision in the long term; and highlight the main challenges and available opportunities within Sharjah's business environments. The Chamber's regular interaction with its partners from the private and public sectors reflects its full commitment to enhancing local economic relations to create a productive domestic business climate.