UAE’s Best Manufacturing Companies 2021
On the Path to Becoming a Global Manufacturing Hub
What comes to the mind at the thought or mention of the United Arab Emirates are its massive oil reserves, long stretches of the golden sand, and the majestic Burj Khalifa. But the country is much more than that and is determined to secure a place on the global map of non-oil manufacturing companies.
With gigantic strides in the manufacturing sector, this country has risen as an international manufacturing hub and reduce its economic dependency simply on fossil fuels.
Enterprising people ushering in the best in manufacturing and the government’s focus on the manufacturing sector are testimony to the fact that the country is close to its goal. In fact, Dubai has set up one of the largest manufacturing hubs in the UAE.
Be it electrical machinery, plastic and rubber, minerals, precious stones, metals, food and beverages, bottling, chemicals, automobiles, textiles, publishing and printing, air conditioning, cosmetics, and perfumes, etc. the UAE is taking an admirable leap in every manufacturing vertical.
The UAE government’s Economic Vision 2030 aims at increasing the contribution of the manufacturing sector to the gross domestic product (GDP) of the country. And the manufacturing sector is growing at an exponential rate. With a robust economic growth due to the oil and gas reserves, the UAE could comfortably skip all the hassles of raising capital for its manufacturing sector.
Thus, with the support of the government, the manufacturing sector is seeing only a steady rise. Foreign Direct Investments are also in the offing with the government willing to have them for the country’s manufacturing sector.
Dubai Industrial Park is one of the initiatives to boost the non-oil manufacturing sector of the Emirates. The sudden growth of the construction sector in Dubai and the other Emirates is thus no coincidence.
With this growth, the other manufacturing companies also saw a steady rise. The manufacturing sector is touted to have seen a whopping increase in net profits to the tune of 50% or more in the past few years. The sector has maintained a steady growth of around 5 % every year as per the news reports.
With the world becoming flatter by the day global trade has become crucial and UAE having realised this, is making every possible effort to foray into the global manufacturing market and remain in the top bracket.
This land of enterprising people grabbed every opportunity they could get and proved their mettle in the manufacturing sphere while also contributing to the country’s GDP. To applaud the efforts of these dynamic businesspersons in the field of manufacturing, we at Insights Success, came up with an edition dedicated to them — UAE’s Best Manufacturing Companies.
We are sure it will give you different insights about businesses in the Emirates. Have an interesting read!