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Al Olama was speaking on Wednesday on the current state as well as his future vision for the aerospace
industry in the UAE during the 2014 edition of the Global Financial Market Forum.
“Abu Dhabi is definitely flourishing, and we want to see it turn into the next Seattle in terms of
becoming an aerospace hub. This is going to be attracting lots of SMEs (Small and Medium Enterprises),
and [the gain from the aerospace industry] could spin off and spin over into other industries,” Al Olama
was quoted by Emirates News Agency WAM as telling Gulf News March 5, adding that there is a lot of focus
on the aerospace industry in line with the Abu Dhabi 2030 vision.He added that there is a lot of focus on
the aerospace industry as it is in line with the Abu Dhabi 2030 vision.
“There are nine different pillars for the Abu Dhabi 2030 vision, six of which are met by the aerospace
industry, which is very much knowledge based,” Al Olama pointed out.
As matters stand, Abu Dhabi’s manufacturing facility, Strata Manufacturing, provides aeroplane parts
for global firms such as Boeing, and Airbus. The company has grown from a $1 billion commitment from Boeing
in 2009, to a $7 billion commitment from Boeing and Airbus this year.
With a current staff number of 650, Al Olama said there is potential to have 10,000 new jobs in Abu Dhabi
in the aerospace industry in the years ahead.
“We’ve become a strategic supplier now. In the next few years, we would like to see UAE become a tier A
supplier to Boeing and Airbus by providing an end product,” the CEO said.
In his speech at the forum, Al Olama concluded by stating his vision of having every aircraft in the
world manufactured with parts made in Abu Dhabi.
(Emirates News Agency, WAM)
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