Capital invested in industrial installations in UAE hit AED125 billion in September 2014, distributed over 5,878 facilities, reports UAE-based Aliqtisadi, citing statistics.
According to Ministry of Finance’s Industrial License Department statistics, this represents a 3.1 per cent increase by AED3.8bn, compared to AED121.2bn during the same period in 2013.
The statistics show that the number of industrial installations rose by 257 facilities in 2014, reaching 5,621 facilities, a growth by 4.5 per cent, compared to 5,364 facilities in 2013.
Abdullah Sultan Alshamsi, assistant undersecretary for industry in the ministry of economy, says the first nine months of 2014 witnessed a significant growth in the movement of industrial investments, especially in the minerals sector and non-metallic mineral products – such as glass and porcelain, ceramics, cement and concrete artefacts.
He adds that the industrial sector in UAE is one of the main sectors that contribute to the GDP by more than nine per cent, and its contribution to achieving the national economy is expected to continue growing to reach 20 per cent over the next few years.
According to statistics, the number of workers in the industrial sector increased, in parallel with the increase in the value of investments, to reach 427 thousand workers by the end of 2014. This represents an increase by 6.4 thousand (1.5 per cent), compared to 420.6 thousand workers in 2013.
Alshamsi states that every $573,000 investment provided a job opportunity for one worker during 2014, which explains the high capital investment in new industries.
He also notes industrial investments are the most important indicators of the country’s industrial sector expansion and its attraction for industrialists and investors.
Until September 2014, industrial investments in UAE reached AED104.5bn, concentrated by 84 per cent in five industrial sectors, with a growth rate of 0.3 per cent, the statistics reveal.
Investments in the food and beverage industry came in first place, accounting for 31 per cent of the total industrial sector investments with $39.2bn.
Investments in the basic metal industries sector came in second place accounting for 25 per cent of the total industrial investments.