The gross domestic product (GDP) of the UAE is predicted to grow more than 3.5
percent to more than AED1.6 trillion ($435 billion) this year, compared with AED1.5 trillion
in 2014, Sultan bin Saeed Al Mansouri, the Minister of Economy, announced in a statement through the official state news agency WAM.
The minister said the UAE’s ability to maintain high growth rates in the
past years, despite global economic volatility, shows its economic efficiency and
proves that its diversification policy is proving to be successful.
The industrial sector’s share of GDP is growing and now stands between 10-14
percent.
Al Mansouri said he expects the
size of industrial investments in the UAE to double in five years.
The minister stressed that his ministry seeks to bolster the competitiveness of the national
economy, the flow of foreign direct investments as well as the country’s
economic relations with foreign countries.
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