Organisers of the Middle East manufacturing exhibition Memex have cited strong Foreign Direct Investment (FDI) figures for the UAE as indicative of a feel good factor for those engaged in manufacturing.
The UAE secured $13.7 billion in FDI during 2009, 95 per cent of which was earmarked for manufacturing projects, according to figures from the Economic and Social Commission for Western Asia that they cited.
Memex will be held at the Abu Dhabi National Exhibition Centre (Adnec), November 28-30. The focus is on technology, machinery, tools and solutions for the industrial and associated industries in the region.
“While manufacturing has been hard-hit particularly in the US and Europe, here in the UAE and the wider region, significant investment is being made to expand the manufacturing base,” said Binu Pillai, exhibition director of Memex 2010 which is being organised by IIR Middle East.
Elsewhere in the region, Saudi Arabia attracted over $21 billion, Oman $2.7 billion and Kuwait over $500 million. Collectively over the last seven years the GCC region secured over $137 billion in FDI for funding 349 manufacturing projects and creating 126,000 jobs. The UAE attracted 155 of those projects valued at $17.3 billion and employing nearly 38,600 people.
17 core sectors identified
The Abu Dhabi Economic Vision 2030 has identified 17 core and support sectors to attract FDI and attain a sustainable growth economy. Sectors, products and services on display at Memex will include basic industry and manufacturing, petrochemicals and plastics, aerospace, food and beverage processing, pharmaceuticals and construction materials.
New this year at Memex is a dedicated Woodworker Zone for the latest in woodworking machinery.
“Metal working, woodworking, surface treatment, machine tools and welding were the top five product sectors exhibited last year and we have increased the machinery display space by 50 per cent to accommodate further growth this year,” said Pillai.
Expected are 120 exhibitor companies from 16 countries representing 400 brands. More than 3,000 decision-makers from more than 25 countries have already registered to attend. The Abu Dhabi Department of Economic Development is the leading partner of Memex.
