Industry & Retail
From The Report: Abu Dhabi 2014
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In a bid to develop a sustainable and diversified economy, non-hydrocarbons industry is becoming increasingly important, and the government of Abu Dhabi has set ambitious growth targets for the sector over the coming two decades. The emirate is developing the infrastructure to achieve these aims, with the objective of creating an attractive environment for industrial investment across a range of sectors.
Rising wages are supporting growth in the retail market, with workers paid a total of $44.67bn in 2012. Consumer lending is also on the rise, increasing by $4.16bn across the UAE in the first six months of 2013. Domestic demand drives the market, though the tourism sector also offers opportunities for retailers. Additional retail supply over the coming year is expected to shake up the sector. Mall operators and retailers recognise that this may cause some short-term turbulence, but that the sector’s longer-term prospects are more than encouraging.
This chapter contains interviews with Mohammed Al Qemzi, CEO, ZonesCorp; Khaled Salmeen, CEO and Managing Director, Khalifa Industrial Zone Abu Dhabi; and Saeed Abdul Jalil Al Fahim, Chairman, Al Fahim Group. It also contains viewpoints from Suhail Mubarak bin Athaeeth, CEO, Senaat; and Saeed G Al Romaithi, CEO, Emirates Steel.