JEDDAH: Gulf countries have invested nearly $180.4 billion into industrial projects last year, nearly $30 billion higher than that of 2008 and $53 billion above the 2007 level, the Doha-based Gulf Organization for Industrial Consulting (GOIC) data showed. From around 7,500 at the end of 2000, the total industrial units in the region surged to more than 13,000 plants, GOIC Secretary General Abdul Aziz bin Hamad Alakeel said in a press statement. “The total capital pumped into the GCC industrial sector jumped to nearly $180.4 billion at the end of last year from $86.6 billion in 2000,” he said. “This boosted the number of workers in this sector to over one million from around 600,000 while the sector's contribution to GDP expanded to nearly $88 billion from $33.3 billion in the same period. It also boosted its share of GDP to around 18.1 percent from nearly 16 percent.” By the end of 2008, Saudi Arabia led, pumping nearly $91.9 billion, more than 60 percent of the total industrial capital. The UAE came second with around $15.7 billion, followed by Qatar, which pumped $13.1 billion. Industrial capital was estimated at $10.3 billion by Oman, $10.16 billion by Kuwait and nearly $8.7 billion by Bahrain. In terms of the number of factories, the UAE topped the list with 4,510 units, nearly 35.5 percent of the GCC's 12,316 factories at the end of 2008. The report showed Saudi Arabia accounted for 36 percent, Oman for 8.4 percent, Kuwait for 7.1 percent, Bahrain for seven percent and Qatar for 4.9 percent. Chemicals and plastic products were the largest beneficiary of GCC industrial capital, receiving around $81.9 billion, the report noted. Investments were put at nearly $18.7 billion in non-metallic mineral products, $17 billion in basic mineral products, $13.5 billion in manufactured metallic products, machinery and equipment, and nearly $11.3 billion in food, beverage and tobacco, the GOIC data indicated.
