(MENAFN) The Gulf Organization for Industrial Consulting (GOIC) released data revealed that the GCC industrial base witnessed a major expansion over the last five years.
The number of manufacturing factories increased from 13,035 in 2010 to 16,292 in 2014, a 5-year CAGR (compound annual growth rate) of 5.7 percent, GOIC data showed.
Invested capital jumped from USD222 billion in 2010 to about USD380 billion in 2014. Around USD158 billion were invested in industrial ventures over the last five years and in expansion projects.
GOIC stated that industrial development indicators in the GCC between 2010 and 2014 showed that GCC countries have focused on supporting and encouraging industrial development by all means.
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