May our Economy always be Solid!

We celebrate today the anniversary of the Union in our beloved United Arab Emirates, may God bring it back to us and our economy in the good.

The wise leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, has always sought to achieve the sustainable happiness of the people of the UAE. The pace of work with every celebration or event held on the home of the UAE on the occasion of the Union Day will be a real testament to the determination of the people of the UAE to fulfill the words of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, who called for the celebration of the last oil barrel to be exported. The diversification of the country’s income sources and the adoption of a strong economic strategy based on innovation has become an economic reality in the country and have already been exported to the Arab oil producing countries, which reduced the production of crude oil to the end of 2018.

 

In the same context, the Minister of Energy, Industry and Mineral Resources in the Kingdom of Saudi Arabia, HE Khalid Faleh, sensed that “there are inevitable changes that will be witnessed by the chemical industry at the global level. The facts that this forward-looking vision for the future of the industry have really identified forms a careful reading of the facts of the components of this industry, and looking towards the horizon of what will be achieved from the variables, within the framework of the exchange equation of the reality of quantitative accumulation, and the emergence of qualitative change.

 

The Saudi minister drew a mental picture of what the reality will be because the current period is a fundamental turning point in this sector, and it is necessary to rise to the level of this challenge, which seemed to loom, by putting all the necessary measures to make it a global force. Locally, he promised change in this sector as an opportunity to be seized and called on key players in the chemical industry to accept the reality of this inevitable change as a reality to be dealt with making maximum use of its outputs.

 

In terms of figures, the chemical and petrochemicals industry reached 158.8 million tons. In 2016, it contributed 43.8 billion dollars to the GCC economies, equivalent to 29 percent of the value added of manufacturing industries in general, Global Chemical and Petrochemical Industries will double in 2030.

Yasir Almahri

CEO Media IN

2017/12/01