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The Emirate Is Targeting To Expand Pharmaceutical And Medical Sector


The latest official data from Dubai Exports disclosed that the emirate's industrial exports jumped 31 per cent in the first-quarter of 2019 to Dh42 billion, as compared to Dh32 billion for the same period last year.

Mohammed Ali Al Kamali, deputy CEO of Dubai Exports, said that the emirate is targeting six industrial sub-sectors of aerospace; maritime; pharmaceutical and medical equipment; aluminium and fabricated metals; fast moving consumable goods; and machinery and equipment to expand the sector's contribution to the GDP in line with the Dubai Industrial Strategy 2030.

Dubai's industrial sector's outlook is quite promising, as the emirate is working on a well-diversified strategy to promote the sector with an important focus on knowledge-based, sustainable and innovative industries.

The industrial sector is the fourth largest in Dubai's economy with 9.2 per cent contribution to its GDP at a value of Dh36.8 billion in 2018. Metals was the highest contributor with 26 per cent followed by 15 per cent machinery and transport, 13 per cent F&B, 11 per cent each for rubber and mineral products, chemicals and pharmaceuticals and wood and paper products.

Saeed Al Awadi, CEO of Dubai Exports, said that Dubai and the UAE seek to help the sector grow further through advanced skills, sustainable manufacturing and export developments.

Data revealed that content of high and medium-high technology products in exports from Dubai has been consistently on the rise, growing from 7.2 per cent in 2017 to 11.3 per cent in 2018 and 12 per cent in Q1 2019.

"As part of Dubai Industrial Strategy 2030, the aim is to become a global platform for knowledge-based sustainable and innovative industries. We are also promoting environmentally-friendly and energy efficient manufacturing," Al Kamali said while addressing the Future Manufacturing and Trade Summit 2019.

"Almost half of the sector's contribution to GDP comes from industrial capacities that employ high or medium-level technologies and skills. All these indicators reflect the strength and flexibility of this sector," Osama Amir Fadhel, acting assistant undersecretary of industrial affairs at the UAE's Ministry of Energy and Industry said at the summit.

The Ministry of Energy and Industry is working with its partners in the UAE Industrial Coordination Council to develop an integrated and unified strategy for the country's industrial sector.


Source : newzmart
Posted on :9/27/2019