DI units' business touches $465m
Dubai, September 22, 2013
Dubai Investments' manufacturing and contracting business touched Dh1.71 billion ($465.56 million) as on December 31, 2012, according to statistics.
The business was primarily driven by the growth achieved across its subsidiaries – Glass, Dubai Investments Industries and Masharie, said a statement.
The group has continued to play a major role in the growth of the manufacturing and industrial sector across the UAE, with significant contribution from its subsidiaries – particularly in the processing industries segment, it said.
A study by the Dubai Chamber of Commerce and Industry stated that the UAE manufacturing segment is among the highest contributing sectors to the countries non-oil GDP over the last decade, with stable percentage contribution of about 14 per cent over the period 2001-2012.
In 2012, manufacturing exports accounted for 53 per cent of the UAE’s total non-oil exports of merchandise goods and 22 per cent of total exports including oil exports, which are also considered as relatively high.
UAE manufactured exports increased from $8.3billion in 2000 to about $59.2billion in 2012 registering a cumulative annual growth rate of about 18 per cent, it said.
The manufacturing sector has witnessed a strong growth thrust and this remains one of the focus areas for DI, which operates across a wide array of manufacturing and processing industries including glass, aluminium products, building materials, pharmaceutical, food and related sectors, said the study. - TradeArabia News Service