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.”