The unprecedented economic transformation of the UAE, since its formation in 1971, has been largely funded by oil revenues. Although oil and gas production continue to be the primary source of public revenue, the principal driver of the country’s current economic success is its sustained pursuit of economic diversification, leading to the creation of new and productive high-growth sectors. This in turn helps in creating more job opportunities for a growing workforce, and reduces the dependence on imports.
Manufacturing is increasingly becoming a mainstream activity and a cornerstone of the UAE’s booming economy. In the next few years, the country is expected to become the regional hub of environmentally safe, technologically advanced and capital-intensive industries producing high-value products that could compete in international markets. Supported by the growth of Industrial Free Zones, the number of manufacturing establishments registered in the region has recorded a 10 to 20 per cent average annual growth.
The United Arab Emirates is in a constant state of evolution.Over the last three decades, its visionary leadership has spearheaded a quite spectacular program of development.
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