The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM
A report by the Industrial Development Bureau (IDB) has revealed that 16 industrial facilities entered production in the Emirate of Abu Dhabi during the first half of 2017, an increase of 100 percent compared to the same period last year, with a total investment value of over AED3.8 billion.
The biannual report of the Abu Dhabi Department of Economic Development’s (ADDED) Industrial Development Bureau said that the number of new industrial licenses registered at the bureau increased by 133 percent during the first half of 2017 as opposed to the same period last year.
The total number of industrial licenses was 21, 12 of which
were located in Abu Dhabi, and
7 and 2 in Al Ain and Al Dhafra, respectively.
According to a press statement, the report findings indicated that activity in the metal and chemical industries each registered four new industrial licenses at the IDB, followed by other industries, including, wood, carton, paper, devices and equipment assembly, construction materials, fiberglass, plastic and sponge, with an average of 3 new licenses in each industry, in addition to registering one license in the food and beverage industry.
Khalifa bin Salim Al Mansouri, Acting Undersecretary of ADDED, emphasised the Government of Abu Dhabi’s keenness to consider factors that support the industrial sector by adopting projects and initiatives that enhance the industrial sectors’ competitiveness
in the emirate and fulfill the goals and objectives of Abu Dhabi
Economic Vision 2030.
Manufacturing industries’ contribution to the gross domestic product, GDP, by current prices in the Emirate of Abu Dhabi has registered a growth rate of 0.5 percent compared to 2016, The relative importance of the manufacturing industries in terms of their contribution to GDP, by current prices reached 6.9 percent,
Al Mansouri added.
Ahmed Hilal Al Baloushi, Acting Director-General of the IDB,
said that the bureau is currently working on improving industrial licensing procedures.
He added that the bureau is currently cooperating with Abu Dhabi Business Centre, ADBC, to complete the total integration process of transaction procedures for
industrial licenses services with the centre’s services through
the ADBC smart app, to facilitate procedures for the industrial
investor and create an attractive investment environment.