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Persian Gulf to See Surge in Industrial Investment

Gulf oil producers are expected to pump massive funds into manufacturing projects in the coming years despite tight market conditions, according to their official industrial group.

 

Heavy investments in medium and heavy industries in the six-nation Gulf Cooperation Council (GCC), exceeding $150 billion (Dh551bn), have resulted in a sharp increase in manufacturing units, jobs and industrial exports, while the non-oil manufacturing sector has become the second most important component of the gross domestic product in member states, the Doha-based Gulf Organisation for Industrial Consulting (Goic) said in a study.

 

Source: Emirates Business 24/7

 

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