Dubai Industrial City attracts $272.2mln in investments

Dubai Industrial City attracts $272.2mln in investments

Dubai Industrial City, a member of TECOM Group, announced that it has attracted almost AED1 billion in investments from local and global manufacturing companies, during its participation at the Make it in the Emirates Forum in the UAE.

Investments by local rubber products producer Universal Rubber Belt Manufacturing and local polymer solutions provider Stars Plastics Industries, were among the investments confirmed on the side-lines of the forum, which was organised by the Ministry of Industry and Advanced Technology in cooperation with the Abu Dhabi Department of Economic Development and ADNOC.

The agreement signing ceremony with Universal Rubber Belt Manufacturing was witnessed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; Sarah Al Amiri, Minister of State for Public Education and Advanced Technology; Malek Sultan Al Malek, Chairman of TECOM Group; and Abdulla Belhoul, Chief Executive Officer of TECOM Group.

The investments reflect growing confidence in Dubai Industrial City’s holistic ecosystem as an enabler of sustainable, long-term growth, in line with the Operation 300bn and Dubai Economic Agenda ‘D33’ strategies to increase the industrial sector’s overall economic contribution and localise supply chains.

Commenting on the investments, Saud Abu Alshawareb, Executive Vice President – Industrial Leasing at TECOM Group, said, “Government initiatives