THE STEEL INDUSTRY AND ECONOMY OF UAE

The steel industry in UAE is a growing business all the time. Steel or iron metal really helps the UAE to grow up from the rescission time. We can see plenty of buildings all over the UAE and also so many construction works are doing in the country. The United Arab Emirates is world famous for oil and the economy of the country is based on oil. When the price of the oil decrease the situation is getting more bad. The price decease really affected the economy of the country, many peoples lost their job and all markets were down. The price decrease of oil affects all the business industries in UAE very badly. Despite low oil costs, the steel fabrication and metal operating trade are wanting to sustain its growth within the UAE and also the region.

Economy|UAE

Steel fabricators are banking on commitments by regional governments to continue underpayment geared toward keeping the economies growing. Besides, most Gulf countries have reiterated their selections to hold on with their infrastructure plans, a move which will keep the order books full for fabricators.

The steady demand from the core sectors junction rectifier by the continued infrastructure comes are encouraging regional fabricators to appear at feet with it instrumentality, advanced technologies and applications for all their metal forming, fabricating, fastening and finishing desires, so underscoring the importance of SteelFab and its increasing promoter still as traveler turnout each year.

The demand for machinery, metals and steel product is on the increase and also the trade is wheelwork up for head to go competition with the world peers as large defrayment on infrastructure comes and positive sentiments within the region fuels growth within the core sectors.

Said Al Midfa says that “The UAE is the least affected by low oil prices, thanks to our diversification policies and increased reliance on the non-oil sector. In fact, the non-oil sector now contributes nearly 69 per cent of our GDP. This has had a direct and positive bearing on the steel fabrication sector, which is now an essential cog in the wheel of our economic growth” “While Dubai is set to spend over $18 billion for the World Expo, Qatar has earmarked a staggering $200 billion for the Fifa World Cup. The construction sector, the main demand driver for fabricators, will be on an overdrive to complete all the required projects before the cities get ready to host the events”

The world expo 2020 is conducting in United Arab emirates so the steel industry never go down. The construction of many buildings are ongoing there and the use of iron or steel metal is very high. Different types of iron metals are using in 2020 world expo like structural steel, aluminium for fabrication etc. Fabrication plays a major role in every construction industry it helps to ease of installation and it gives an attractive beauty for the building. Steel is a profit oriented business and the use of steel in UAE is very high because of the construction industry never sleep. UAE is also famous for tourist place, there are many destinations and many attractive buildings in the region.

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