Dubai Seeks Sweeter Manufacturing Deals Outside the Oil Industry
According to a recent Gulf News report, “Dubai FDI, the investment development agency in the Department of Economic Development (DED) has assisted one more multinational move to Dubai for broader market access and expansion with Lindt & Sprungli, the famous Swiss manufacturer of premium chocolates, establishing its representative office in the emirate.”Lindt’s website states that the company’s current manufacturing takes place at eight production sites in Europe and the U.S. Lindt products are currently sold in more than 80 countries. The company does not yet mention its newly established office in Dubai.
Reportedly, the office was created as a touch point for distributors located throughout the Middle East, Africa, and the Indian Sub-continent. However, officials hope the offices will sweeten the deal for future ventures in business and manufacturing.
Gulf Business News reports, “The UAE expects to attract foreign direct investments (FDIs) worth $14.4 billion in 2014, up almost 20 per cent from its current FDI levels.” It is this sentiment that continues to appeal to foreign businesses – especially those with more than fuel in their figurative tanks.
Zawya notes, “Manufacturing is in fact one of the highest contributing sectors to the UAE’s non-oil GDP in the last decade, providing roughly 14 percent (2001 to 2012). Manufacturing accounted for 53 percent of the UAE’s total non-oil exports (merchandise goods) in 2012 and 22 percent of total exports including oil.”
Among other ventures, Dubai is currently focusing on science and technology. The Emirates Institution for Advanced Science and Technology (EIAST) released their recent announcement of the newly launched DubaiSat-2satellite.
According to Emirates 24/7, “In addition, EIAST has signed an agreement with Satrec Initiative for worldwide promotion and distribution of DubaiSat-2’s products and services to global customers.”
While Lindt’s interest in Dubai and Dubai’s focus on a STEM projects are unrelated, both undertakings point to a diversifying economy.
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