GCC Secretariat General: Industrial Sector a Pillar of Economic Development and Gulf Integration
Al-Badawi emphasized that the industrial sector is a cornerstone for development and Gulf integration during the Industrial Committee meeting.
Translated by Qiyas from كونا — Original source
Manama, Oct 6 (KUNA) – The Secretary-General of the Gulf Cooperation Council (GCC) Jasem Al-Budaiwi affirmed in Manama today that the industrial sector constitutes a fundamental pillar in the path of economic development and GCC integration, given its pivotal role in diversifying the production base, enhancing value-added, and boosting the competitiveness of the economies of the member states.
This statement came during a speech delivered by Al-Budaiwi at the 57th meeting of the GCC Industrial Cooperation Committee, held under the chairmanship of Minister of Industry and Commerce Abdullah Fakhro, and attended by the ministers of industry from the GCC member states.
In a statement, Al-Budaiwi noted that the meeting witnessed the launch of the GCC Center for the Fourth Industrial Revolution and its digital platform, in line with global industrial transformations and to enhance the shift toward advanced industries and modern technologies, while supporting digital transformation in Gulf factories.
He added that preparations for five joint GCC industrial investment opportunities in priority industrial activities have been completed, with promotional workshops launched in the Kingdom of Saudi Arabia and the Sultanate of Oman in coordination with the Gulf Chambers of Commerce and Industry Union, amid positive investor engagement.
He pointed out that joint GCC industrial efforts have witnessed notable progress in recent years through the coordination of industrial policies and strategies, the development of the regulatory and legislative environment, and the stimulation of industrial investments, thereby contributing to building a more integrated and competitive GCC industrial base capable of keeping pace with global economic and technological transformations.
In the same context, Al-Budaiwi said that the coming phase imposes rapid challenges and changes, foremost among them the repercussions of current events on supply chains, successive technological developments, and increased global competition. This necessitates continuing coordination and integration among the GCC member states, enhancing the resilience of supply chains, and developing Gulf industrial capacities to strengthen the competitiveness and international standing of the GCC industrial sector. (End) K.N.A / M.A.A
