UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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UAE starts a project for an industrial census

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UAE

Today, the Federal Competitiveness and Statistics Centre (FCSC), the members of the Industry Development Council, and the regional statistics offices joined forces with the Ministry of Industry and Advanced Technology (MoIAT) to begin the Industrial Census initiative.

The project's goal is to compile a thorough database of all businesses that engage in industrial activity as defined by the International Standard Industrial Classification of All Economic Activities (ISIC4 - Section C), including those operating in free zones, regardless of whether they have an industrial or non-industrial licence.

The action is in accordance with Ministerial Decision No. 6 of 2023, which governs the procedure for industrial establishments to send information to MoIAT, and Federal Decree-Law No. 25 of 2022, which governs the regulation and development of the industry.

The project was unveiled at a press conference held in Abu Dhabi by MoIAT. A dependable and adaptable method for industrial businesses and establishments to take part in the census and submit their data will be made available as part of the initiative by MoIAT.

In addition to assisting decision-makers in tracking, evaluating, and enhancing the competitiveness of the industrial sector and informing related future policies and decisions that make the sector flexible, the project will assist in the creation of new investment opportunities for manufacturers, investors, and owners of industrial companies. The project is in line with Operation 300 billion, the country's industrial and advanced technology policy.

The project is in line with orders from our leadership to grow the industrial sector in the UAE and increase its contribution to national GDP, according to Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of the Industry Development Council. The MoIAT, in collaboration with FCSC, local governments, and free zones, plays a crucial role in developing an enabling legal framework that supports the industrial sector and aids in luring both domestic and foreign investments in order to achieve the goals of the national strategy for industry and advanced technology.

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