The industrial sector and the other side of the stimulus
Ismail Al Hammadi
September 20 2022
More than 49,000 new investment business licenses were registered by the Emirate of Dubai during the seven months of 2022 (from the beginning of the year until the end of July), according to Dubai Business Map data.
The figures indicate a growth in the number of new licenses during that period by about 60% compared to the same period last year.
It is noticeable in the data that out of a total of 49,000 licenses, only 241 industrial licenses were granted to the industry sector!
With a simple analysis, we find that the number is small, given the amount of attention the government gives to the industrial sector and the incentives provided to encourage investment in this field.. Why is the turnout weak, then?
Although all potentials are being harnessed for investors in this field.
In fact, incentives alone are not enough to attract investors to the industrial sector. There are other aspects that must be paid attention to and focus on, the first of which is paying attention to the industrial real estate sector and injecting more incentives and facilities into it.
The second is to allocate specialized development and marketing companies to promote and market the local industrial sector abroad, including industrial real estate and the advantages of investing in the sector.
To this day, we have not seen or heard of a company or entity specialized in promoting the sector abroad.
The advantages and incentives concerned with the advancement of the local industrial sector, if not promoted externally, will not have an echo, and will not be able to achieve its goal of attracting more capital and foreign investments to the sector.
It is no longer limited to facilities only, but rather how to provide these facilities to investors and bring them closer to get acquainted with the competitive environment provided by Dubai for investment in the industrial sector.
It requires creating a kind of movement and dynamism for the external promotion of the various components of the industrial sector.
The industrial strategy will not give full fruits if it is not promoted externally and allocate mobile exhibitions to introduce it and market the advantages of industrial projects in Dubai.
Creating new attractions for the industrial sector is what is required at the present time to achieve the set goals, and this will not be done without mixing the sector's incentives and marketing strategies for it.
@ismailalhammadi
Ismail.alhammadi@alruwad.ae
To read the previous articles of the writer please click on its name.