The UAE received nearly AED 13 billion in industrial investment in 2011 as it is pushing ahead with new laws to expand the manufacturing sector's share from 16% to 25% of GDP.

According to official data, from around AED 101 billion at the end of 2010 total industrial investment surged to a record high of AED 114 billion at the end of 2011.

Mr Abdullah Al Shamsi industrial advisor at the Ministry of Economy said that "There was growth of around 12.8% in industrial investment in the UAE last year. The number of non oil manufacturing units in the second largest Arab economy also grew to more than 5,200 at the end of 2011 from around 4,960 at the end of 2010.

Mr Al Shamsi said that "A new industry law is under discussion with all relevant departments and we hope it will be released this year. Our target is to expand this sector's share of GDP from around 16% at resent to 25% in the coming years the focus will be on capital intensive and low labor projects."

(Sourced from Emirates Business 24/7)