UAE strengthens the role of industrial sector to increase its contribution to the GDP, says Economy Minister

UAE strengthens the role of industrial sector to increase its contribution to the GDP, says Economy Minister
2013-07-02 14:34:18

WAM ABU DHABI, July 2, 2013 (WAM) — Sultan bin Saeed Al Mansouri, Minister of Economy, has stressed that the UAE is implementing an ambitious strategy to strengthen the role of the industrial sector in the economic system and increase its contribution to the GDP.

He said during a meeting with representatives of local and national organizations working in the industrial sector, that the industrial sector is a key driver in the performance of the national economy, as its contribution to the GDP of the country in 2012 ranged between 11 and 15 percent, saying that the country pays a special attention to the industry.

The Minister said that a draft law is being prepared amending Federal Law No. 01 of 1979 regarding Regulation of Industries. He added that the project represents a quantum leap for the industrial sector in the UAE.

He pointed out that the law of small and medium-sized enterprises which will be issued soon, mainly focuses on guiding young people to invest in the industrial sector and support national industries.

The participants in the meeting hailed the role played by the ministry in dealing with the challenges facing their businesses and finding appropriate solutions.

WAM/ES/CM

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