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FINANCIAL NEWS
UAE- Sharjah’s manufacturing sector accounts for 20% of 2011’s GDP
26 Dec 2012
(MENAFN) The Sharjah Investment and Development Authority’ (Shurooq) CEO, Marwan Bin Jassim Al Sarkal, stated that in 2011, the manufacturing sector accounted for 20 percent of the emirate’s gross domestic product (GDP), reported Gulf News.
Al Sarkal said that output of the sector exceeded USD5.44 billion, whereas its exports reached nearly USD816 million.
He added that the number of industrial businesses grew to 1,700, comprising big, medium and small enterprises.
The CEO attributed the increase in the number of establishments to incentives that include flexible and encouraging economic laws and legislation.
It is worth noting that Shurooq was founded in 2009 to achieve social, cultural, environmental and economic development.
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