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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The UAE seeks to increase the economy and food security through strengthening the food and agriculture sectors.

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UAE

The United Arab Emirates (UAE) is starting on an ambitious strategy to drastically improve its food and agriculture sectors. Over the next five years, the goal is to expand the sector's contribution to the country's economy by $10 billion and create 20,000 job opportunities. This effort is consistent with the UAE's goal to improving food security and maintaining a steady supply of food for its rising population.    

Abdulla bin Touq, the Minister of Economy, made the news at the Future Food Forum in Dubai. While applauding the UAE's outstanding performance in the global food security index for 2022, in which it outperformed its MENA competitors, Mr. bin Touq emphasised the considerable challenges confronting the food industry in these unpredictable times. He did, however, express confidence in the industry's resilience and adaptability to adequately manage these difficulties.   

The UAE's food and agriculture sector development strategy is based on seven key pillars:

First Nurturing Local Talent and Innovation: By taking steps to encourage talent and innovation within the country, the UAE hopes to cultivate indigenous agricultural innovators and disruptors.

second This pillar emphasizes the need of developing a culture of supporting native products and enhancing the nation's food supply chain in order to lessen reliance on imports.

Also Farmers' Support: Giving local farmers the required support and resources is a vital component of this effort, which aims to empower and enhance their capacities.

Advancement in Technology  is also  Inculded for this strategy   The UAE is committed to being a global leader in agriculture technology and sustainability. This entails investing in cutting-edge technologies and practices to enhance performance.  


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