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FINANCIAL NEWS
Total industrial investment in UAE hits USD31b in 2011
06 Feb 2012
(MENAFN) The UAE’s Ministry of Economy said that at the end of last year, total industrial investment in the country reached a record high of USD31 billion, compared with USD27.49 billion in 2010, reported Emirates 24/7.
The ministry added that in 2011, industrial investment grew about 12.8 percent.
It also said that the number of non-oil manufacturing units increased to over 5,200 at the end of 2011, compared with nearly 4,960 at the end of the previous year.
Moreover, the non-oil manufacturing sector included about 405 factories involved in food industries, 290 ready-made garments factories, 384 paper and printing production units and 857 chemicals plants.
It is worth noting that the UAE plans to raise the manufacturing sector’s share from 16 percent to 25 percent of gross domestic product (GDP).
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