The Gulf Organization for Industrial Consulting (GOIC) recently announced that GCC industrial sector has been witnessing major Growth during past few years. According to GOIC paper, printing and copying industry got nearly 5.4 billion USD of investments (1.5% of the total investments) with an average growth rate of 11%. Across all industries the value of investment capital increased from nearly 181 billion USD in 2009 to almost 369 billion USD in 2013 (a cumulative growth rate of 19.5% for five years). The number of factories paralleled this growth rate: from 13002 factories in 2009 to 15689 in 2013 (a cumulative growth rate of 4.8% for five years). In addition, the number of workers jumped from nearly 1031825 worker in 2009 to almost 1379257 in 2013 (a cumulative growth rate of 7.5%). GOIC Secretary General Abdulaziz Bin Hamad Al-Ageel said: “The industrial sector has witnessed a huge progress and impressive achievements because of the support of GCC countries and the major role it plays in accomplishing strategic and economic objectives.”
He added: “GCC countries’ efforts to back industrial development included providing adequate infrastructure, creating industrial cities and industrial development funds and offering several other industrial incentives. The positive response of the private sector and its cooperation with governments resulted in achieving industrial development goals.” According to GOIC’s IMI Plus databases, there are several industrial development indicators in GCC countries between 2009 and 2013. These countries offered incentives and supported the industrial sector, hence increasing the value of investments in factories operating in GCC countries end of 2013.
As to industrial investments, the ranking is as follows:
Kingdom of Saudi Arabia 54.2%, State of Qatar 22.2%, United Arab Emirates 8.8%, the Sultanate of Oman 6.5%, Kuwait 5.5% and the Kingdom of Bahrain 2.8%.
The 2013 ranking as per number of factories is as follows:
Saudi Arabia 40%, UAE 35.1%, Oman 9.9%, Kuwait 5.3%, Bahrain 5.1% and Qatar 4.7%.
As to workforce, the ranking is as follows:
Saudi Arabia 52%, UAE 27.1%, Kuwait 6.2%, Oman 5.3%, Qatar 5% and Bahrain 4.3%.