- January 23, 2018
- Posted by: RKonnect
- Category: Others, Retail & Manufacturing
MADE IN UAE SUMMIT BRINGS TOGETHER THE BEST IN MANUFACTURING INDUSTRY
Dubai – Another successful edition of Made in UAE Summit was held on Wednesday, January 17, 2018. The event hosted by SPI Great sands Group saw exhibitors and participants meet up over a string of networking events, presentations, and speeches by keynote speakers.
The event helped startups to interact with known names in manufacturing in the UAE including names like Zarooq Motors (that produces Sand Racer Sports Car, a high performance sports car), Falcon Technologies International (local mass producer of data storage solutions), and UAE’s own smartphone brand, Four (owned by Faisal Al Bannai, the CEO of Axiom Telecom along with cyber security expert company DarkMatter).
As a part of UAE’s strategy to diversify from the energy sector, the country has started to invest heavily into non-oil sectors which includes the manufacturing sector as well. The Made in UAE Summit tries to represent the amazing progress made by the manufacturing industry. The event brought together keynote speakers who shared their rich experiences with interested participants, along with fillip to the manufacturing sector in the UAE. With UAE’s industrial investments set to touch AED 257 billion (USD 70 billion) by 2025, it makes total sense to have a gathering of experts around the manufacturing sector – one of the key drivers of UAE’s GDP.
Made in UAE Summit – Key Benefits
Some of the key benefits participants and exhibitors derived included –
1 – Companies got the chance to mingle and unlock new business opportunities by interacting with more than 500 MFG decision makers across the length and breadth of the UAE region.
2 – Participating companies also got to know about the various trends, challenges, and innovations in the MFG sector. This helped them gain a competitive advantage in their business operations.
3 – Speeches and keynote address from industry influencers helps companies to know what potential opportunity can be extracted based on client demands in the current times.
4 – Companies also got to know how to future proof their business with the world increasingly shifting to a digital ecosystem, and accelerate business in face of evolving MFG industry vertical.
Impact of manufacturing sector on UAE and Dubai economy
UAE have a long standing vision of building competencies that encourages and promotes foreign direct investment in the country. Much of this will be driven by sectors like manufacturing, healthcare, education, and tourism. Because of this vision, UAE continues to be a leading destination for foreign investments into interesting projects that entail manufacturing of products.
Currently, construction projects worth AED 569 billion (USD155 billion) are underway in the country, which tremendously boosts the health of the UAE’s, manufacturing industry. The robust outlook for manufacturing can also be explained by the fact that the UAE’s economy is expected to grow at around 4%. The upcoming World Expo 2020 too will focus on manufacturing along with the three core non-oil sectors. The massive event is expected to rake investments worth AED 367 – 551 billion (USD100 – USD150 billion) in various sectors of Dubai economy and manufacturing is expected to be one of the key beneficiaries of the mega event.
This sector is also expected to maintain UAE’s standing as the 15th most competitive nation worldwide, backed by the UAE and Dubai strategic vision to continue growing in the right direction in the next 5 – 7 years.
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