(MENAFN) UAE's industrial sector is witnessing a large-scale expansion with investments exceeding more than USD34.56 billion being pumped in to the manufacturing sector.
Known for its mighty oil and gas industries, the UAE has given due importance to the manufacturing sector as part of its policy to diversify its economy, the Minister of Economy said.
The efforts by the UAE leadership have paid as the manufacturing sector contributes 14 percent to gross domestic product in 2014. It is second after the oil and gas sector he said.
"UAE's experience with manufacturing and industrialization which Strata exemplify can be a model for both industrialized and developing economies," the minister added.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.