(MENAFN - Arab News) More than 531 million the prospective of 10 investments in the field of basic metal, chemical, and plastics industries, in addition to the food industry.
Gulf Organization for Industrial Consultancy, GOIC, announced during a workshop organized by in collaboration with Jeddah Chamber of Commerce and Industry that the investments will provide job opportunities for over 721 workers. GOIC stated that the job opportunities are compatible to the Saudi market due to the availability of essential row materials in the Kingdom and the Gulf countries.
Secretary General for GOIC, AbdualAziz Al-Aqeel said that such investments is but one of many investment opportunities which "the Industrial Map," aiming at analyzing the present status of industries in the GCC, had reached to. The map also specified the absent and targeted industries and recommended promising investment opportunities.
"Our vision was to turn this study into a guideline for investors who opt to invest in the GCC to help them prioritize and direct their investments," said Al-Aqeel.
He pointed out that the industrial map also revealed that industries the Gulf focuses on Small and Medium industries which forms 86 percent of the total of industrial establishments in the GCC. Yet Al-Aqeel indicated the majority of industrial investments focuses on large industries represented in basic petrochemicals which forms 78 percent of the total accumulated investments.
The secretary general also said that this indicates that there are many promising industrial sectors that could be invested in, within the framework of developing various economic sources and providing job opportunities for increasing manpower, as well as enhance social and economic activities.
Al-Aqeel cited Jeddah, as the important sea and land port for the Kingdom where industrial investments stimulated especially with the future vision of Saudi Economy 2025.
At the end of the meeting there was a presentation on the Industrial Market Intelligence- IMI Plus which offers specific and detailed statistics for investors, and forms an essential database for feasibility researchers.