DEDC-GOIC deal to develop industries
DEDC Chief Executive Saed Al Awadi and GOIC Secretary General Ahmed Khalil Al Mutawa signed the MoU, which seeks to establish a framework for facilitating co-operation and co-ordination between GOIC and DEDC to foster industrial development in the UAE.
"DEDC continuously strives to optimise the emirate's exports through strategic partnerships and associations with relevant bodies. We believe this partnership will help attract foreign investments from industrial projects, while simultaneously improving the industrial landscape," said Al Awadi,
"Developing the country's industrial strength will also reduce import dependence and create a self sustaining infrastructure," he said.
Dubai's industrial production has tripled over the past 10 years, and now accounts for about one third of the UAE total. This is the result of a state-led programme, which has seen investment concentrated on industries where Dubai holds a competitive advantage.
According to the Ministry of Economy, the contribution of manufacturing sector to GDP rose by 152 per cent during the past six years to reach Dh26.5 billion in 2006 compared with Dh10.5bn in 2001, and this development is a result of the industrial sector development programmes.