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FINANCIAL NEWS
UAE- MoE, Dubai Industrial City ink MoU
15 Jan 2013
(MENAFN) The UAE’s Minister of Economy, Sultan bin Saeed Al Mansoori, stated that the ministry has inked a Memorandum of Understanding (MoU) with Dubai Industrial City to improve industries in the Gulf nation, reported Emirates 24/7.
Al Mansoori said that the industrial sector plays a chief role in boosting the UAE’s economy, and affirms the ministry’s eagerness to strengthen the sector.
He added that manufacturing industries accounted for 9.1 percent of the country’s gross domestic product (GDP) in 2011 with the volume of the industry sector growing to USD31.04 billion in the year.
According to the MoU, the two parties will exchange information and visits, hold joint workshops and events and organize annual meetings to tackle the output and export difficulties and to enhance the private sector’s contribution to the country’s growth.
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