International delegates get first glimpse of the future for the region’s manufacturing sector.
Emaar Industries & Investments PJSC (EII), the leading industry investor, yesterday called a closed meeting to unveil plans to introduce large-scale manufacturing that will contribute billions of Dirhams to regional economies.
EII, a private working company spun out of Emaar Properties, revealed its three-pronged strategy to high level trade and commercial delegates from around the world at a special closed meeting in Dubai. The blueprint should lead to EII becoming the No1 industrial specialist, a significant niche Research and Development player, and an investor in long-term, capital intensive projects.
Members of EII’s senior management, including board member Ali Ibrahim – Deputy Director General of the Government of Dubai’s Department of Economic Development – gave an upbeat assessment of the company’s prospects. The delegates, drawn from countries as far apart as Japan, the US, Australia and Russia, were told that EII, as the leading industry investment and management specialist in the region, would be in prime position to be considered the first-choice partner for major international and regional manufacturing corporates looking to expand.
Dr Ahmad Khayyat, EII’s Chief Executive Officer, told the delegates -: “Industry has the potential to transform economies in the region and build a bridge to global markets, production and expertise. Emaar Industries and Investments is the key that can unlock this potential.
“Our expectation is that EII will become as influential in its sector as Emaar Properties has been in the regional real estate market.
“We have a winning proposition. The challenge we face is to bring together the region’s capital liquidity, wealth of resources, demanding markets and huge pool of labour on its doorstep and channel these into strong commercially driven industries.
“EII’s strength lies in its association with Emaar Properties, a group that is continuing to transform the regional landscape and lifestyles. Manufacturing, especially the ‘clean’ industries at its cutting edge, offers a new direction and a way to diversify away from energy and property and add depth to local economies.
“Our focus is on creating a sustainable, broad-based economic future for the entire region. The aim is to become a global brand in manufacturing investment.
“We are committed to providing the UAE and GCC with state-of-the-art manufacturing capabilities by tapping into the profit and growth potential of migrating industries, both regionally and internationally.”
Delegates at the meeting, who were there by special invitation, were told that roll-out of the plan would turn the AED 250 million start-up into one of the pillars of the regional economy and a force to reckon with in the sector. Dr Khayyat added: “ We will do this by identifying partners that have the potential to become leaders in their fields, and providing them with the means to unlock their true value.
“Our seed capital is AED 250 million but there is no upper limit on our investment capability.
“We are offering something new to this country and this region and an alternative that holds out hope for the future and a direction that will lead to sustainable economic growth over the long term.”
