Qatar minister of energy calls out need for industrial coordination among GCC countries

Qatar minister of energy calls out need for industrial coordination among GCC countries
Qatar minister of energy calls out need for industrial coordination among GCC countries
During the Qatar-Saudi Economic Forum in Riyadh, Minister of Energy and Industry Dr. Mohamed al-Sada spoke about the need for industrial coordination among Gulf Cooperation Council (GCC) countries in manufacturing industries, specifically the small and medium-sized enterprises (SME) sector.
 
During his speech, al-Sada mentioned international investments, which were estimated at $248 billion in 2015.
 
“The majority of these investments are focused on energy-intensive industries like petrochemicals and fertilizers, which are government-owned industries,” he said.
 
Al-Sada noted that the GCC is an “active economic power” both at the regional level and on a worldwide scale.
 
“The Gulf region is replete with potentials and powers that will enable it to be a gateway to all kinds of investments,” al-Sada. “Low oil prices and the political instability in our region helped us foresee a much more realistic look. Oil will not be futuristically the active and mobilizing power in the Gulf economy.”

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Qatar Chamber of Commerce

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