More than $13 billion in foreign direct investment was secured by the UAE last year of which 95 per cent was earmarked for manufacturing projects, said an expert, citing the FDI report by Economic and Social Commission for Western Asia.

'While manufacturing has been hit hard in the US and Europe, here in the UAE and wider region, significant investment is being made to expand the manufacturing base,” said Binu Pillai, exhibition director of Memex 2010, the upcoming Mideast manufacturing show.

The event will run from November 28 to 30 at Abu Dhabi National Exhibition Centre.

The feel good factor for the manufacturing sector landscape comes at a time when organisers and participants are beginning to make their final preparations for Memex, he remarked.

Elsewhere in the region, Saudi Arabia attracted over $21 billion, Oman $2.7 billion and Kuwait with over $500 million, said Pillai.

Collectively over the last seven years, the GCC region has secured over $137 billion in foreign direct investment funding 349 manufacturing projects, creating 126,000 jobs.

During this period, the UAE attracted 155 of these projects valued at $17.3 billion, employing nearly 38,600 people, he pointed out, citing data.

“Metal working, woodworking, surface treatment, machine tools and welding were the top five product sectors exhibited last year and we have increased the machinery display space by 50 per cent to accommodate further growth this year,” said Pillai.

Over 120 companies representing 400 brands from 16 countries are expected at the event besides more than 3,000 decision makers from over 25 countries, primarily from across the Middle East and North Africa (Mena), said organisers IIR Middle East.

The Abu Dhabi Department of Economic Development (DED) is the leading partner of the Memex show.

The focus of the Memex is on technology, machinery, tools, and solutions for the industrial and associated industries in the Middle East, said Pillai.

The Abu Dhabi Economic Vision 2030 has identified 17 core and support sectors to attract FDI and attain a sustainable growth economy, he pointed out.

These sectors use the products and services on display at Memex, and include basic industry and manufacturing, petrochemicals and plastics, aerospace, food and beverage processing, pharmaceuticals, and construction materials.

'New this year at Memex is a dedicated Woodworker Zone for latest in woodworking machinery and tools, providing networking opportunities with professionals in the wood processing, woodworking, furniture, carpentry, joinery, cabinet making, interior design and the wooden building material manufacturing sector,' he added.-TradeArabia News Service