The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI / WAM
Dr Matar Al Neyadi, Under-Secretary of the Ministry of Energy and Industry in the government of the UAE, opened the three-day 22nd Middle East Iron and Steel Conference in Dubai by discussing ongoing regional and international trends, and how the
iron and steel sectors of the GCC could work towards mitigating risks inherent in a turbulent international market, and seize new opportunities available to them.
Addressing the conference, Dr Al Neyadi spoke of the changes which the industry has recently faced, including new and growing trade protocols or increased requirements regarding environmental sustainability.
“We endorse the industry opinion which predicts a stable and resilient outlook for the global and regional steel industry in 2019. We believe that the steel industry has a bright future to companies that put innovation, bold visions and sustainability at the heart of their business strategy,†Dr Al Neyadi stated.
In addition, he spoke about the opportunities presented by digitalisation, innovation and the use of new technologies in steel production, while remarking that the steel industry in 2016 invested 13 percent of its revenue in capital investment projects and process improvements, including advanced technologies.