Plastics sector 'perfect launch pad for SMEs'
, April 15, 2013
The leading captains of the plastics industry have called upon the enterprising small and medium enterprises (SME) to enter this boming sector, which has clocked a double-digit growth rate in the recent past, and make it their perfect launch pad.
In the past decade, the SMEs have played a key role in supporting GCC states’ GDP growth and offering employment opportunities to thousands of people. Yet, the booming regional plastics industry can offer much better opportunities for SMEs, said a group of plastics industry experts who gathered in Sharjah ahead of Plastivision Arabia 2014.
A premier industry event, Plastivision Arabia will be held at Expo Centre Sharjah from April 7 to 10, 2014.
“The number of graduates passing out of our colleges and universities are increasing every year, and it is difficult for the government to provide all of them with employment. It is in this context that GCC governments are supporting and developing SMEs, resulting in them contributing in a big way to GDP,” remarked Saif Mohammed Al Midfa, the director-general, Expo Centre Sharjah.
According to him, the Gulf countries’ push to develop their SMEs has got a shot in the arm as the Plastivision Arabia 2014 is offering assistance to Gulf nationals to explore business opportunities in the booming plastics industry.
"With 60 per cent of the region’s population under the age of 26 and unemployment at 40 per cent, regional governments are looking at further boosting their support to develop the SME sector.
“The UAE has recently enacted a law providing further support to SMEs, while other regional governments are also adopting measures to encourage nationals to enter the sector. The plastics industry, which thrives in the resource-rich region, can be the right launch pad for the enterprising national youth,” said Midfa.
He was addressing a press conference along with the partners and sponsors of Plastivision Arabia 2014 in the presence of Dr Asutosh Gor, the president, All India Plastics Manufacturers Association and Jayesh Rambia, the chairman of Plastivision Arabia 2014 committee of AIPMA.
As in the launch edition, the second Plastivision Arabia will be organized by Expo Centre Sharjah and All India Plastics Manufacturers’ Association (AIPMA), the oldest and the largest apex body of the plastic industry in India.
The regional plastics industry offers a relatively hassle-free business model, given that the region enjoys an advantage in two key components — feedstock and logistics. Feedstock cost is lower in the Gulf owing to its rich oil and gas reserves and the GCC’s closeness to demand clusters – specifically India and China – offers a significant logistic cost advantage.
"Plastics business is also less technology and capital intensive, which means that any layman can venture into plastics manufacturing with minimal investment and technological know-how," remarked Jayesh Rambia.
At Plastivision Arabia, experienced consultants from AIPMA will assist young entrepreneurs in establishing their plastic manufacturing units,” said Rambia. The live display of machines at the show will provide first-hand understanding of technology and the necessary know-how to establish the plastic plant, he added.
The launch edition of Plastivision Arabia in 2012 featured 150 exhibitors from 19 countries and attracted 7,000 visitors from 66 countries. It also had the distinction of seeing most live machines on display being sold.
Plastivision Arabia 2014 will be held along with Arabia Mold, in association Demat, the organizer of world-renowned EuroMold, the world’s leading fair for mold-making & tooling, design and application development.-TradeArabia News Service
More Industry, Logistics & Shipping Stories
- Pentair to set up manufacturing unit in Saudi
- Alba supports major energy summit
- Polysys Additive breaks ground in Kizad
- Qatar non-hydrocarbon economy on the rise
- ADPC to take over UAE port operations
- Carlyle readies $3bn sale of chemical firm
- Firm plans to bring super jumbo jet to Bahrain
- Johnson Controls, Hitachi in AC venture
- OICT installs nextgen cranes at Sohar Port
- Saudi petchem giants eye share-swap merger in 2014