The Middle East Manufacturing Exhibition (MEMEX) opens today at the Abu Dhabi National Exhibition Centre (ADNEC) until Tuesday 25 November 2008, providing a platform for regional manufacturers to meet local, regional and international suppliers.
The UAE is investing heavily in its industrial manufacturing sector, stimulated by and the need to diversify away from the oil sector as hydrocarbon revenues continue to decline.
“There is certainly growing demand for finished products and I don’t see that changing dramatically any time soon,” said Tim Wilson, Exhibition Manager, MEMEX.
“The economy may well slow next year but the UAE is still expecting minimum GDP growth of 2-3% and domestic demand for steel as an example will also remain robust with so many major projects in progress with funding assured,” added Wilson.
According to official government figures the total cumulative industrial capital value of all non-oil and gas industrial projects in the UAE already exceeds $20 billion, creating 290,000 jobs.
“Oil is trading around $50 a barrel, a far cry from the highs this summer when oil was over $140 a barrel. This level of investment will undoubtedly help to diversify the economy and will take on even more importance as worldwide demand for oil softens due to the global economic downturn,” commented Wilson.
MEMEX will showcase leading industry suppliers from 16 different countries displaying over 100 brands. Main exhibit sectors include Machinery & Machine Tools, Welding, Joining & Heat Treatment, Automation & Robotics, Measuring Instruments, ERP solutions and Manufacturing Zones.
Organisations looking to establish a base in the region will be well catered for. At MEMEX, with ample opportunity to network and build essential business links to key industry players and decision-makers, such as the Higher Corporation for Specialized Economic Zones - ZonesCorp.
Another highlight this year at MEMEX will be the Industryscape conference, which runs in parallel with the exhibition will be the only platform for key discussions on the future of the Middle East industrial landscape.
In terms of investment, it is Abu Dhabi that is setting the pace with the first Industrial City of Abu Dhabi (ICAD 1) which includes economic zones for base metals, building and construction products, electronics, plastics manufacturing and automotive industries, has already attracted $2.99 billion in investment. ICAD 2 has benefited to the tune of almost $1.63 Billion with new projects including air conditioning water chillers, architectural hardware and aluminum windows and doors manufacturing.
“The UAE is making a strategic commitment to the manufacturing sector its contribution to the country’s GDP is second only to oil & gas. New manufacturers in the UAE will find ready markets for machinery and tools for construction, shipbuilding, infrastructure and power generation,” concluded Wilson.
However it is not just about the UAE, MEMEX will present opportunities for machinery and machine tools sales not just within the Arabian Gulf States but throughout the Middle East. Qatar is looking to attract $30 billion to drive its industry base.
Numerous industrial zones are being created across Saudi Arabia including King Abdullah Economic City an industrial city to the north of Jeddah with initial investment of US$26.6 Billion. Bahrain is also planning a variety of industrial initiatives in the metals sector such as fifteen projects in the aluminium sector worth a total of US$142 Million.
