(MENAFN) Investments in the Gulf Cooperation Council's (GCC) industrial food sector accumulated a total of USD23.76 billion this year, up from USD13.69 billion, Arab News reported.
The figures are announced by the Gulf Organization for Industrial Consulting (GOIC), which added that the number of factories in the sector reached 1,965 in last year, up from 1,606 in 2010, marking a compound annual growth rate (CAGR) of 5.2 percent.
"The food industries sector is one of the main pillars of a sturdy economy; it is an important sector that is based on agricultural activities and developing animal resources and fisheries," GOIC Secretary General said.
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