The Abu Dhabi Chamber of Commerce and Industry has identified in a recent study six sectors that lead the industry in the emirate, including aluminum and steel, chemicals and medicines, stressing that the private sector plays a crucial role in developing the manufacturing field.
The Chamber recommended increasing funding and developing a skilled workforce, stressing the importance of government policies encouraging economic activities with high added value.
In detail, the Abu Dhabi Chamber of Commerce and Industry confirmed that the emirate's manufacturing sector is witnessing rapid progress, despite the challenges facing the global economic environment.
The Chamber stated in a recent study, "Emirates Today" obtained a copy of it, that the private sector plays a crucial role in developing the field of manufacturing and implementing the Abu Dhabi industrial strategy, which is evident in enhancing competition among many manufacturing companies.
She explained that there are six basic sectors that lead the industry in Abu Dhabi, including: metals represented in aluminum and steel, in addition to building materials and non-metallic mineral products, as well as chemicals and medicines, as Abu Dhabi is working to expand its presence in this sector.
She added that the other three sectors are: aviation and defense equipment, as well as food and beverage products and consumer goods, as well as industrial equipment.
She indicated that the manufacturing sector will receive strong support during the coming period, which would raise the private sector's contribution to the economy to 37% by 2021.
She indicated that Abu Dhabi’s strategy focuses on diversification during the next few years thanks to the government’s continued investment in sectors such as minerals, petrochemicals and space, confirming that Abu Dhabi’s competitiveness is the basis, especially in terms of reducing the cost of electricity, as it showed the ability to reduce prices early this year. There is scope for expanding market share and increasing manufacturing growth.
The study recommended increasing the provision of finance and developing a skilled workforce, as well as making more efforts in training and education, as well as strengthening relations between companies and universities, strengthening cooperation between the public and private sectors, and expanding skills and training in innovation.
The study concluded that the importance of government policies to encourage economic activities with high added value, and that manufacturing companies in Abu Dhabi to produce goods with low value added ranges between low and medium, which are requirements for goods with higher added value.
The 6 sectors
■ Aluminum and steel.
Building materials and non-metallic mineral products.
■ Chemicals and medicines.
Aviation and defense equipment.
■ food products.
Industrial equipment.