His Excellency Sultan Bin Saeed Al Mansouri Visits Emirates AquaTech Caviar Farm in Abu Dhabi

“National products have become more credible and competitive due to adherence to international standards,” says Minister

Abu Dhabi-UAE: 20 February, 2014 - His Excellency Eng. Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, today affirmed that quality and conformance to international standards have allowed a number of UAE-based industrial products to achieve high credibility and significant market share across the global trade landscape.

The comments came during Al Mansouri’s visit to the Emirates AquaTech Caviar Farm (EACF) in Abu Dhabi. The world’s largest and most technologically advanced aquaculture farm, the Emirates AquaTech Caviar Farm has a capacity to produce 35 tonnes of caviar per year, which amounts to 10 percent of the caviar produced globally. Spanning an area of 56,000 square meters, EACF gained recognition in November 2013 for producing the premium Siberian ‘Yasa Caviar’ as an exceptional high quality Emirati product.

The ministerial delegation comprised His Excellency Abdullah Sultan Al Fan Al Shamsi, Undersecretary for Industrial Affairs at the Ministry of Economy, His Excellency Mohammed Hassan Al Qamzi, CEO of the Higher Corporation for Specialized Economic Zones, Salem Bin Mohammed Bin Salem Al Dhaheri, an investor and board member of the Emirates AquaTech, Ahmed Al Dhaheri, General Manager of Emirates AquaTech, Tariq Ahmed Al Marzooqi, Director of Government Communications at the Ministry of Economy, and a number of senior officials.

During the visit, Al Mansouri commended the Emirates AquaTech Caviar Farm as an important addition to the UAE’s industrial sector in general and the delicacy food industry in particular.

Emphasizing that the strategy of developing the industrial sector in the UAE as a high priority to the Ministry of Economy as part of the UAE Vision 2021, Al Mansouri highlighted that the growth the sector has witnessed in recent years indicates the attractiveness of the national economy, its strength, diversity, the integrity of the legislative environment, as well as the durable and modern infrastructure.

Adding that the industrial sector's contribution to the UAE’s GDP currently stands between 10 - 14 percent, he said the Federal Government is implementing an ambitious strategy to strengthen the sector’s contribution to the GDP and promote its role in achieving the UAE 2021 Vision. His Excellency highlighted the Ministry’s efforts in preparing a draft Bill to amend the Federal Law No. (1) for 1979 and streamline industry affairs. He indicated that new legislations for small and medium businesses are directed towards encouraging young entrepreneurs to invest in the industrial sector and support national industries.

Al Mansouri shared that the significant growth in the UAE’s industrial sector is manifested in the increase in the volume of industrial investments in the different emirates, where a cluster of industrial areas that have been set up continue to attract investments.

Concluding his visit, the Minister reiterated the Ministry of Economy’s commitment to provide all the resources for the the industrial sector’s growth through addressing export challenges and opening up foreign markets. He stressed on the need to coordinate and combine efforts among stakeholders in the public and private sectors and to continue identifying tangible solutions for driving the sector.