UAE industrial investment on the rise

19/09/2011 - Dubai Investment News Posted by Neil King
UAE industrial investment on the rise

Individuals looking for investment opportunities in the UAE could be among those encouraged by the publication of recent figures.According to the region's Ministry of Economy, last year saw investment in the region's industry rise by 35.76 per cent, Albawaba reported.Figures released by the ministry showed that industrial investments increased by 24 million AED.Sultan Bin Saeed Al Mansoori, the UAE minister of economy, said that plans are afoot to significantly increase the contribution of the industrial sector to the nation's GDP.Indeed, the minister claimed that over the coming years, the sector should contribute one-quarter of the UAE's GDP.The comments come shortly after new figures revealed the strength of Dubai's paper industry.More than Dh2.2 billion worth of trade was recorded between January and May this year, up from Dh1.9 billion during the same period in 2010.Ahmed Butti, executive chairman of ports, customs and free zone corporation, said: "This reflects an outstanding growth of the sector here and increasing reliance on Dubai as a major trade hub for re-exporting markets in the region."