(MENAFN) According to a report by the Federation of the GCC Chambers (FGCCC), the Gulf Cooperation Council (GCC) is expected to achieve a growth rate of 4.2 percent this year, which will be worth about USD1.7 trillion, compared to USD1.65 trillion last year, KUNA reported.
The report said that the GCC countries are also planning to increase the contribution of the industrial sector to their GDP to reach 25 percent by 2020, from its current contribution of 10 percent, by using the sustainable growth of the sector and the flow of government and private investments into the industrial projects.
The report also expected that the industrial investments' volume in the GCC to hit USD1 trillion by 2020, compared to USD323 billion at present
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.