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FINANCIAL NEWS
UAE manufacturing sector investments hit USD34.56b
03 Sep 2015
(MENAFN) UAE’s industrial sector is witnessing a large-scale expansion with investments exceeding more than USD34.56 billion being pumped in to the manufacturing sector.
Known for its mighty oil and gas industries, the UAE has given due importance to the manufacturing sector as part of its policy to diversify its economy, the Minister of Economy said.
The efforts by the UAE leadership have paid as the manufacturing sector contributes 14 percent to gross domestic product in 2014. It is second after the oil and gas sector he said.
“UAE’s experience with manufacturing and industrialization which Strata exemplify can be a model for both industrialized and developing economies,” the minister added.
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