The UAE's industrial strategy, Operation 300bn, is a testament to the nation's commitment to creating a sustainable future for generations to come.
With the aim of doubling the industrial sector's gross domestic product contribution from Dh133 billion ($36 billion) to an impressive Dh300 billion by 2031, this objective is set to stimulate growth and development across key industrial sectors of the UAE.
Diverse industries such as aviation, renewable energy, health care and waste management have been at the forefront of the nation's transformation.
From pioneering space missions to ground-breaking hydrogen production, the nation has firmly established itself as a centre of industrial excellence.
But as the UAE’s growth accelerates, manufacturers, infrastructure developers and operators face a critical juncture that demands the attention of industrial decision makers and more involvement from industrial service companies.
For our industrial sector's continued growth and development, businesses must concentrate on sustaining operations and minimising downtime.
This can be achieved through reliable industrial service providers whose technical expertise allows them to handle engineering and operational maintenance complexities.
By doing so, industrial companies can better position themselves to compete globally, adopt innovation and capitalise on the UAE’s favourable regulatory environment and state-of-the-art infrastructure that is integrated with global supply chains.
Furthermore, the strategic location of the UAE adds another layer of advantage. Situated at the crossroads of Asia, Africa and Europe, the UAE serves as a gateway for trade and commerce.
With 85 per cent of the world's population living within an eight-hour flying time from the Middle East, the UAE becomes an even more attractive destination for businesses seeking easy access to vast markets and international connections.
Additionally, it is projected that the Middle East will contribute to 70 per cent of the world's economic growth over the next two decades. This makes the UAE an ideal location for industrial companies looking to tap into the region's tremendous potential and secure their position in the global economy.
We recognise the importance for industry leaders to allocate resources efficiently to achieve optimal results. Outsourcing specialist maintenance capabilities eliminates the need for time and in-house development that is capital intensive.
By taking advantage of the technical skills, knowledge and expertise of industrial service champions, businesses can drive operational performance to higher standards and avoid disruptions. This allows companies to focus on their core competencies while benefiting from specialised capabilities offered by service providers.
Therefore, business continuity is imperative for boosting productivity in the industrial sector. This strengthens the In-Country Value strategy and supports the UAE’s efforts to increase its knowledge-based exports and contribute to global supply chains.
The more “Made in the Emirates” seals are displayed with pride on products and services worldwide, the more it creates an economic multiplier at home. One effect is building local capacity because a sizeable manufacturing base will rely on highly skilled engineers to maintain essential industrial products, equipment and infrastructure, spurring Abu Dhabi’s economic diversification and long-term growth.
By collaborating with manufacturers, original equipment manufacturers (OEMs), academia, small and medium enterprises and start-ups, industrial services champions help to cultivate the use of innovative technology through the dedication of a highly qualified technical workforce.
These partnerships also enhance the global competitiveness of organisations and support the creation of an enabling ecosystem that advances breakthrough ideas within the industrial sector.
We have applied this approach when forging strategic partnerships with renowned global OEMs such as GE Aerospace, Pratt & Whitney, Rolls-Royce and Thales, contributing to Sanad securing more than Dh27 billion of long-term commitments for the next 10 years and beyond.
Sanad makes use of its global partners’ competencies to support knowledge transfers to Abu Dhabi, further strengthening the local talent base.
In parallel, OEMs and industrial companies gain significant advantages by capitalising on the specialist expertise and tailored solutions offered by industrial services providers that manage the key elements of the maintenance, repair and operations value chain.
By doing so, industrial service champions enable companies to free themselves from operational upkeep, streamline operations and focus on their core business. This propels organisations to the forefront of global industry and further solidifies the UAE’s position as a world-leading industrial centre.
Mansoor Janahi is the managing director and group chief executive of Sanad
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
Killing of Qassem Suleimani
Stree
Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
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Sri Lanka Test squad:
Dimuth Karunaratne (stand-in captain), Niroshan Dickwella (vice captain), Lahiru Thirimanne, Kaushal Silva, Kusal Mendis, Kusal Janith Perera, Milinda Siriwardana, Dhananjaya de Silva, Oshada Fernando, Angelo Perera, Suranga Lakmal, Kasun Rajitha, Vishwa Fernando, Chamika Karunaratne, Mohamed Shiraz, Lakshan Sandakan and Lasith Embuldeniya.
MATCH INFO
Manchester United v Brighton, Sunday, 6pm UAE
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How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
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Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
Tips for entertaining with ease
· Set the table the night before. It’s a small job but it will make you feel more organised once done.
· As the host, your mood sets the tone. If people arrive to find you red-faced and harried, they’re not going to relax until you do. Take a deep breath and try to exude calm energy.
· Guests tend to turn up thirsty. Fill a big jug with iced water and lemon or lime slices and encourage people to help themselves.
· Have some background music on to help create a bit of ambience and fill any initial lulls in conversations.
· The meal certainly doesn’t need to be ready the moment your guests step through the door, but if there’s a nibble or two that can be passed around it will ward off hunger pangs and buy you a bit more time in the kitchen.
· You absolutely don’t have to make every element of the brunch from scratch. Take inspiration from our ideas for ready-made extras and by all means pick up a store-bought dessert.
UAE currency: the story behind the money in your pockets
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