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.”
