Abu Dhabi’s Industrial Sector a Major Contributor towards Non-Oil GDP
The report, issued by the Industrial Development Bureau of Abu Dhabi Department of Economic Development revealed that Abu Dhabi’s industrial sector contributed to approximately 10.7% of the non-oil GDP and 6.3% to the overall GDP for the year 2020. More than 51 industrial facilities started their production last year in UAE, which had a total investment of AED 4 billion (USD 1 billion). More than 35 of these facilities went into production in Abu Dhabi, while 11 in Al Ain and 5 in Al Dharfa. The rise in industrial facilities in UAE, especially in Abu Dhabi, reflects the growing role of the industrial sector in driving the emirate’s sustainable economic development. Metal, food, chemicals, equipment and machinery accounted for more than 50% of the new facilities.
Major Industrial Facilities in Abu Dhabi Comprises of:
Abu Dhabi Government has taken measures to promote the role of the industrial sector as a key driver of sustainable economic development. Some of the major factors that they focused on are enhancing Foreign Direct Investment (FDI) and by providing incentive packages for the business operating in the sector. Despite the pandemic situation impacting economies and investments around the world, Abu Dhabi has seen a streamlined investments from the FDI during the year 2020. This reflects investors’ confidence in the Emirate. Several incentives, initiatives and advantages make Abu Dhabi a centre for attracting investments across the region.
Abu Dhabi Industrial Sector – Performance
More than 283 industrial licenses were registered in Abu Dhabi, among which 171 were ‘industry pioneer’ licenses, 61 were ‘under construction’ licenses and 51 ‘production’ licenses. The total industrial licenses in Abu Dhabi reached 1,694, for the year 2020 with the overall value estimated to be AED 553 billion (USD 145 billion), including licenses to 839 facilities that were already under production, with an estimated value of AED 362 billion (USD 98.5 billion), 546 facilities which were under construction with an estimated value of AED 181 billion (USD 49.2 billion) and 309 industry pioneer licenses.
Chemical industries constitute the highest investment value, reaching AED 211 billion (USD 57.5 billion), followed by energy and sustainability with AED 202 billion (USD 55 billion), construction and glass industries AED 44 billion (USD 12 billion), equipment and machinery AED 10 billion (USD 2.7 billion), food AED 8 billion (USD 2 billion) and other industries around AED 6 billion. (USD 1.6 billion)
Investment Opportunities in Abu Dhabi Industrial Sector
Over the past 15 years, Abu Dhabi has invested more than AED 51 billion (USD 14 billion) to establish robust industrial infrastructure. It continues to be a key contributor to GDP and major contributor to diversification strategy, moving away from oil and gas based growth. The sector benefits from consistent commitment from the Abu Dhabi Government in line with the Abu Dhabi Economic Vision 2030, and offers businesses cutting edge facilities supporting advanced manufacturing techniques. These provide significant investment opportunities in the Abu Dhabi Industrial Sector.
Research Konnection is one of the leading market research companies in Abu Dhabi and UAE. Feel free to reach out to us if for market research, feasibility study and business planning requirements in the United Arab Emirates. …March 5, 2021
Gulfood 2021 – Focus on innovating F&B industry in UAE
Gulfood 2021, the world’s largest Food and Beverage (F&B) event kickstarted in Dubai a few days back. The 25th edition of Gulfood 2021 attracted over 2,500 companies across 85 countries, including some of the major brands in the F&B industry. The primary motive of the event was to present the main market trends in the F&B industry and to highlight new innovations, consumer behaviour patterns, and revive communication links between thousands of key players in the industry.
The Gulfood 2021 united some of the world’s top chefs, food scientists, industry innovators and even government officials to discuss the future of food. It will provide key focus points for the government in the future of F&B industry. Some of the major topics in the discussion are healthier food options; sustainability; marketing; food’s relationship to tourism and retail; and the emergence of new technologies set to boost the industry.
Food & Beverage Industry Market Potential – Dubai & UAE
With Dubai being one of the first city to control and open up during the COVID19 pandemic and its efforts in cementing its position as a strategic re-export hub in the Middle East and Africa (MEA) region, the F&B sector is expected to witness a further growth in the years to come. In addition, the overall expenditure on F&B products in the UAE is estimated to increase by 7% on an annual basis from AED 136 billion (USD 37 billion) in 2020 to AED 150 billion (USD 41 billion) by the end of 2025.
Major Trends – Food & Beverage Operations in UAE
As the UAE and the region recovers from the pandemic, it has significantly changed the dynamics of UAE’s F&B sector, particularly of Dubai. One of the major trends witnessed since the pandemic is the increase in food delivery services such as Talabat, Zomato and Careem in UAE. They gained immense popularity during the pandemic where deliveries grew as a result of health and safety precautions. The food delivery service providers are also innovating their business model, to better serve the F&B operators. Careem, changed its commission-based model to monthly subscriptions, which has seen an increasing reception for the same.
The F&B operators are also increasingly moving to shared cloud kitchens as compared to the traditional on-site ones, and are now looking towards managed kitchens. Facilities in which both cooking, and delivery are fully outsourced will allow businesses to focus more on brand, concept, and consumer demands while eliminating the need to spend significant sums on allocation decisions.
Food & Beverage Business Investment Opportunities in Dubai & UAE
Despite a global economic slowdown because of the pandemic, the UAE continues to be one of the fastest-growing F&B sectors in the world. As more people in the region get to learn about the variety of food and beverage through an event like Gulfood, the show is bound to continue attracting thousands of different F&B enthusiasts around the globe every year, solidifying Dubai and the UAE as a major F&B destination across the globe.
Research Konnection assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. It is one of the best rated market research companies in Dubai specializing in Market Research, Market Entry & Feasibility Studies. Feel free to reach out to us on email@example.com…February 25, 2021
New waterfront shopping destination announced in Dubai
Nakheel Malls in partnership with DP World has announced to open Souk Al Marfa, a new waterfront shopping destination in Dubai’s Deira Islands in April 2021. The area of the shopping destination will extend to approximately 1.9 kms along the waterfront and will be in close proximity with Mina Rashid, Mina Al Hamriya and Deira Wharfage.
The shopping destination can accommodate 2,500 shops and pavilions with facilities for shipping and logistics. Furthermore, Souk Al Marfa will provide several advantages for the business owners including 100% foreign ownership, repatriation of capital and profit, no restrictions on currency movement, logistical ease and amenities such as warehousing, office space, showrooms and Food and Beverage (F&B) facilities.
Apart from offering affordable growth opportunities to traders with multiple benefits, the retail trading hub will operate for 365 days a year. This could promote Souk Al Marfa as one of the major, diverse and large-scale shopping destinations in UAE. The Souk Al Marfa waterfront aims to become a world-class destination for living, tourism, retail and leisure.
Dubai – Retail Market Outlook
The wholesale and retail market of Dubai contributes to more than 25% of the total GDP, with its value estimated at AED 95 billion (USD 25.8 billion) during 2020. Although this was a decrease in the retail sector contribution when compared to the year 2019, primarily due to the COVID-19 pandemic, the initiatives taken by the government have recovered the market and the retail segment in Dubai is expected to grow at a rate of 10% on an annual basis.
Dubai is popularly referred to as the world’s largest shopping and entertainment destination, as it offers a variety of shopping choices to its residents and tourists. Along with the EXPO 2020, which is to happen this year and the inauguration of Souk Al Marfa, Dubai will further elevate its position as a world-class shopping and travel destination.
Investment Destination in the Middle East
The UAE has positioned itself to become a leading destination hub in the MENA region for business and leisure. It has developed world-class infrastructure with quality airports, hotels, public facilities, and economic zones, which furthers its evolution as an international business destination. The Emirates recorded an exceptional year-to-year growth of FDI (Foreign Direct Investment) by 32%, with an estimated investment of AED 51.5 billion (USD 14 billion) for the year 2020. The Citizenship reforms, 100% ownership opportunities of businesses, the EXPO 2020 which is to happen in UAE and the establishment of the new waterfront shopping destination will further attract FDIs and startups into the country, thereby creating an economic environment that is conducive for businesses and investments. Contact Research Konnection, one of the leading feasibility study companies in Dubai to assist you with market research, business planning and market entry in UAE.
Research Konnection is the best rated Market Research Company in Dubai assisting clients in business setups and expansion in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Feasibility Studies, Business Plan Development and Business Modeling. Feel free to reach out to us at firstname.lastname@example.org…February 20, 2021
GITEX Technology Week – 2020
The 40th edition of GITEX Technology week starts from today 6th of December and will run till 10th December 2020 at the Dubai World Trade Centre. GITEX focuses on uniting international technology visionaries, industry innovators and global investors. This is the biggest MICE (Meetings, incentives, conferences and exhibitions) event to take place in Dubai since the COVID-19 outbreak. The event is expected to see more than 1,200 big tech companies and start-ups across 60 countries. The organizers of the GITEX technology week will give the highest priority to the visitors’ health & safety and follow Dubai Government regulations, as well as follow the guidelines set by the Dubai Health Authority and Dubai Municipality.
GITEX Technology Week – Focus
GITEX will focus on showcasing the technological progress made by the entities of the UAE Government that are leading UAE’s digital economic transformation including Smart Dubai, Dubai Electricity and Water Authority, the Abu Dhabi Government, Dubai Police and Dubai’s Roads and Transport Authority. In addition, Dubai’s initiatives in leveraging the technology to combat and overcome the pandemic will also be showcased.
Some of the major verticals that will be focused on during the GITEX technology week are the region’s gaming infrastructure, digital marketing, smart cities and IoT. Technology giants such as Microsoft, Dell Technologies, Du, Etisalat, Lenovo, Honeywell, IBM, Red Hat, Avaya and Huawei will have their presence in the event along with most influential technology investors such as EBAN, MODUS Capital, 500 Startups (Egypt) and MENA Tech Fund.
The GITEX Technology Week 2020, will play a critical role in helping Dubai to overcome the economic slowdown by actively attracting international investors to the Emirates and to showcase themselves as the most technologically innovative and creative city in the world. Contact market research companies in Dubai to know more about the implications of GITEX technology week on the technology industry.
Research Konnection is the best rated Market Research Company in Dubai assisting clients in business setups and expansion in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Feasibility Studies, Business Plan Development and Business Modeling. Feel free to reach out to us on email@example.com…December 6, 2020
UAE Healthcare Sector OverviewMarch 14, 2020
UAE Economy Outlook 2020 & FutureJanuary 1, 2020
UAE’s Food & Beverage Industry Outlook
UAE is the second biggest market in GCC’s food and beverage sector with the country’s population at over 10 million people in 2018 witnessing a continued influx of more than 17 mil…December 29, 2019
…October 26, 2019
Gitex Technology Week 2019 Focuses on Smart City InnovationOctober 12, 2019