ABU DHABI: New data from the Abu Dhabi Chamber shows a surge in industrial licensing within the emirate (excluding free zones). During 2023, the number of new licences issued jumped 51 percent, reaching 363 by year’s end. This remarkable growth reflects Abu Dhabi’s rise as a regional industrial powerhouse.
The launch of the Abu Dhabi Industrial Strategy, spearheaded by H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, has further fuelled this transformation. This strategic initiative aims to significantly expand the industrial sector, boosting its contribution to the emirate’s GDP.
The Abu Dhabi Industrial Strategy has ambitious goals. It seeks to double the size of the manufacturing sector to AED172 billion, create 13,600 skilled jobs, and increase Abu Dhabi’s non-oil exports by 143 percent to AED178.8 billion, by 2031. Furthermore, the strategy seeks to improve the UAE’s ranking in global industrial competitiveness indicators, where
the country already holds the top spot regionally and sits at 29th globally (according to the UNIDO Competitive Industrial Performance Index).
Statistics from the Abu Dhabi Chamber reveal a growing presence of foreign companies in the emirate’s industrial sector. In 2023, 46 foreign firms participated in 15 diverse industrial activities. The leading area of involvement is mining support services, attracting 13 foreign companies. Manufacturing sectors like chemicals and basic metals also saw significant foreign participation with 5 and 4 companies respectively.
The range of industrial activities in Abu Dhabi is extensive. It encompasses sectors like wood and wood product manufacturing (excluding furniture); paper and paper product manufacturing; rubber and plastic product manufacturing; fabricated metal product manufacturing (excluding machinery and equipment); waste collection, treatment, disposal, and material recovery; beverage manufacturing; machinery and equipment manufacturing; food product manufacturi
ng; other non-metallic mineral product manufacturing; computer, electronic, and optical product manufacturing; electricity, gas, steam, and air conditioning supply; and water collection, treatment, and supply.
Source: Emirates News Agency
Tripoli: Dozens of demonstrators gathered in front of the Martyrs’ Hall in the city of Misrata, on Tuesday evening, to protest the economic crisis the country is going through, and to denounce the decision to impose a tax on the selling price of foreign exchange.
In a statement they issued, the demonstrators expressed their denunciation of the confusion in monetary and economic policies, the lack of single decisions for the Libyan state, the political conflict in all parts of the country, the wasting of money from all political bodies without oversight or accountability, and the lack of accountability from governments that led to high prices, which increases the burden on the citizen as a result of the consequences. This is a failed policy, according to their description.
The demonstrators held all political bodies responsible for the deteriorating standard of living of citizens and the lack of economic stability in the country.
The demonstrators announced their rejection of the decision of Speaker of the
House of Representatives, Aguila Saleh, to impose a tax on the dollar exchange rate.
The demonstrators’ statement called on the judicial authorities to hold all political bodies in eastern and western Libya accountable for wasting money without oversight or accountability.
The demonstrators also demanded the formation of a unified government in the country to prevent the waste of funds and the depletion of the state’s reserves.
The demonstrators threatened to escalate their movement into comprehensive civil disobedience until their demands were met.
Source: Libyan News Agency