EMIRATES-BASED YACHT and boat builder Gulf Craft is calling for an official ‘Made-In-UAE’ trademark for the growth of the country’s manufacturing sector.
EMIRATES-BASED YACHT and boat builder Gulf Craft is calling for an official ‘Made-In-UAE’ trademark for the growth of the country’s manufacturing sector.
“A government regulated national label would not only lend credibility to the country’s producers through the strict application of manufacturing standards, but also promote synergy between all industry stakeholders,” says Gulf Craft CEO Erwin Bamps.
His comments follow the launch of the AED165 billion Dubai Industrial Strategy, which aims to elevate Dubai into a global platform for knowledge-based, sustainable and innovation-focused businesses.
“The United Arab Emirates (UAE) has significant potential to be a global production hub, but in order to do so, important steps need to be taken to gradually move the country from a consumer base to a producer market,” Bamps says. “The creation of an official ‘Made-in- UAE’ trademark is central to this effort. It goes back to the philosophy that the sum is larger than its parts, allowing for the regulation of quality across industries, and creating a national brand that will be seen and recognised globally.”
The call for a UAE label comes as the government intensifies efforts to diversify the economy away from oil through various initiatives. This includes increasing the manufacturing sector’s contribution to national GDP from 11 per cent in 2015 to 20 per cent by 2020, and 25 per cent by 2025.
“The manufacturing sector forms the pillar and backbone of an economy,” says Bamps. “Unlike other sectors, such as real estate or retail industry, which are largely cyclical, offers stability.
“However, industry clusters, which comprise of networks of businesses that provide a wide variety of supplies and services necessary for the manufacturing and servicing of a particular product, are essential to supporting a thriving industrial sector,” adds Bamps. “This is of particular need in the maritime industry, which largely depends on imported supplies.”
Bamps cites Gulf Craft as an example of how homegrown businesses can lead the move from customer to producer. Chairman Mohammed Hussein Al Shaali recognised strong local and regional demand for premium leisure craft, which established the company to serve local niche, and then expanded as an exporter.
“Starting the business was a considerable risk, but we have demonstrated that both the local and the international market will support a ‘Made-in-UAE’ product,” says Hussein Al Shaali. “Whether catering to the end customer as with Gulf Craft, or as part of a supply chain within the manufacturing process, there are places where entrepreneurs can be a driving force in innovation and diversification in the economy.”
