Abu Dhabi has issued 16.6 per cent more new industrial licences within a year of launching a strategy aimed at doubling the size of its manufacturing sector by 2031.
The number of industrial licences issued in the 12 months to June 2023 stood at 238, the Abu Dhabi Department of Economic Development said on Tuesday.
Total capital investments by manufacturers operating in the emirate grew by Dh12.42 billion ($3.38 billion) to Dh384.06 billion in the same period, up from Dh371.64 billion a year ago, it said.
Capital investments made by manufacturing facilities that moved to the in-production phase during the year rose to Dh15.36 billion ($4.18 billion), a growth of 85.7 per cent year-on-year.
“The robust performance of the manufacturing sector is testament to Abu Dhabi’s ongoing economic resilience," Ahmed Al Zaabi, chairman of the department of economic development, said.
"Our manufacturing sector ... is moving from strength to strength, powered by successful implementation of the industrial strategy’s transformational programmes to enhance the sector’s competitiveness by increasing access to financing, enhancing ease of doing business and attracting domestic and foreign direct investments.”
The emirate's industrial sector contributed 16.4 per cent to Abu Dhabi’s non-oil gross domestic product in 2022 and represents 49.9 per cent of the total industrial sector in the UAE, according to government data.
The Abu Dhabi Industrial Strategy, announced in 2022, aims to double the size of industrial sector to Dh172 billion, create 13,600 skilled jobs and increasing the emirate’s non-oil exports to Dh178.8 billion by 2031.
Under the strategy, the government is investing Dh10 billion across six industrial programmes to achieve these goals.
Preliminary estimates from the first half of this year indicate growth in Abu Dhabi's manufacturing sector, with an increase in the number of investors and new industrial projects.
Some 116 new industrial licences were issued during the first half of 2023, an increase of 63.3 per cent from the same period last year.
The number of operational manufacturers in the emirate now stands at 966, up from 922 manufacturers at the end of the first half of 2022, Added said in its one-year industry update.
The number of manufacturers that joined the Golden List initiative, which aims to increase the demand for locally manufactured goods through government procurement, increased to 164 establishments in the six-month period, up 29.1 per cent year-on-year.
The number of products registered in the Golden List increased to 742 products in the first half of the year, increasing 4.3 per cent from the prior-year period.
Added in May said it launched a Dh500 million fund to help small and medium industrial enterprises adopt smart manufacturing technology, as the emirate seeks to boost the industrial sector’s contribution to the national economy.
Abu Dhabi’s non-oil economy grew by 6.1 per cent annually in the first quarter of the year, with the sector's GDP reaching the highest level in nine years, on the back of the emirate's strong diversification push.
Robust non-oil growth supported Abu Dhabi's overall economy to expand by 3.9 per cent annually in the first three months of 2023, the Statistics Centre Abu Dhabi said in June.
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
FIXTURES
Saturday
5.30pm: Shabab Al Ahli v Al Wahda
5.30pm: Khorfakkan v Baniyas
8.15pm: Hatta v Ajman
8.15pm: Sharjah v Al Ain
Sunday
5.30pm: Kalba v Al Jazira
5.30pm: Fujairah v Al Dhafra
8.15pm: Al Nasr v Al Wasl
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Joe Root (captain), Dom Sibley, Rory Burns, Dan Lawrence, Ben Stokes, Ollie Pope, Ben Foakes (wicketkeeper), Moeen Ali, Olly Stone, Chris Woakes, Jack Leach, Stuart Broad
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Directors: Tarzan and Arab Nasser
Rating: 4.5/5
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MATCH DETAILS
Juventus 2 (Bonucci 36, Ronaldo 90 6)
Genoa 1 (Kouame 40)
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- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
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The Bio
Favourite holiday destination: Either Kazakhstan or Montenegro. I’ve been involved in events in both countries and they are just stunning.
Favourite book: I am a huge of Robin Cook’s medical thrillers, which I suppose is quite apt right now. My mother introduced me to them back home in New Zealand.
Favourite film or television programme: Forrest Gump is my favourite film, that’s never been up for debate. I love watching repeats of Mash as well.
Inspiration: My late father moulded me into the man I am today. I would also say disappointment and sadness are great motivators. There are times when events have brought me to my knees but it has also made me determined not to let them get the better of me.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
ITU Abu Dhabi World Triathlon
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
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Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
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Profession: Driver
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Favourite drink: chai karak
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Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
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4.30pm – The Boxtones
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MATCH INFO
Day 2 at the Gabba
Australia 312-1
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Shafiq 76, Starc 4-52
UAE currency: the story behind the money in your pockets
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From Europe to the Middle East, economic success brings wealth - and lifestyle diseases
A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.
One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.
In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.
The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.
And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.
