Economy

  • The economic performance of the state in the recent years witnessed a high growth rates that can be compared to those achieved in the emerging economies as the UAE is the second largest Gulf Arab economy after Saudi Arabia. GDP has increased to reach AED 535.6 billion in 2008 achieving a growth rate of 7.4% comparing 5.9% & 6.34% at the same time in 2006.
  • HH Sheikh Saoud Bin Rashid Al Mualla ruler of the emirate of Umm Al Quwain always ensure the great importance of the economy as it is the backbone of life and one of its main engines moreover HH always mention that the success of Umm Al Quwain economy is a reflection for the stability & durability of the whole UAE economy.
  • It is a great belief that for a better futuristic view for the UAE economy, the country should not rely completely on the crude oil sector & should always think towards other alternatives that might help in strengthening the country’s economy.
  • One of the major milestones that had been achieved through the development plan of Umm Al Quwain has been the establishment of the Economic Department by Emiri Decree No. 1 of 1995 followed by the instructions to open the encouraging economy office in 2004.
  • The economic development in Umm Al Quwain is not only steady but in brisk situation related to commercial activity. The emirate lies at the heart of the UAE with a free zone in Port Ahmed Bin Rashid. It has fast connections with other emirates & modern telecommunications.
  • The key strengths of Umm Al Quwain economy are listed hereunder:
  • The extensive & attractive waterfront
  • Proximity to Dubai & Sharjah
  • Cheaper cost of living (including housing)
  • Cheaper land, labor & construction costs
  • Established fishing & boating construction industries
  • The port presence
  • Agriculture industry
  • The commercial / industrial projects have activated the import / export business as these projects are gaining an unlimited support from the various governmental authorities of the emirate of Umm Al Quwain.
  • Industrial productivity units are increasing successively in the emirate of Umm Al Quwain as lots of factories are opened (i.e. ready mix, threads & textile, cement, bricks, marble, furniture, fiber glass, rubber & boats factories plus lots more in other production fields).
  • Agriculture & animal husbandry agriculture are concentrated in Kober, Al Surra, Al Mahdhab & Falaj Al-Mualla which is one of the biggest villages in Umm Al Quwain (famous for dates & palm trees along the eastern side of Al Batha valley).
  • Cattle & poultry farming is growing up where a modern dairy farm was setup serving & catering the emirate & other markets in the UAE.
  • Fishing is a traditional activity in Umm Al Quwain since the pearl diving days prior to the oil & the UAE federation. Fish wealth is abundant in Umm Al Quwain & includes grouper, oriental sole, kingfish, emperor, bream & prawns.
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