GCC invested $3.2bn for building materials in 2014
Gulf Organisation for Industrial Consulting (GOIC) finds small and medium-sized factories focused predominantly on construction and related sectors in 2014
The Gulf Organisation for Industrial Consulting (GOIC) recently revealed that the number of small and medium-sized factories in the GCC countries was around 13,480 in 2014, comprising 10,809 small factories and 2,671 medium factories.
Abdulaziz Bin Hamad Al-Ageel, secretary-general of GOIC, said the total investments in small and medium industries throughout GCC countries touched $15.3bn in 2014, which is the equivalent of 4.1% of the total investments in the Gulf industrial sector, amounting to $380.1bn.
Al-Ageel added $6bn investments were made in small-scale industries, and $9.4bn in medium industries.
According to GOIC’s methods, small industries are those that have less investments than $2m, and medium sized industries are those with a capital ranging between $2m and $6m.
Small and medium industries are distributed numerically on all industrial activities, GOIC found, but they are largely concentrated on the activity of construction metals and transportation.
The production of building materials came in second place, with about 2,297 plants accounting for 17% of the total number of small and medium-sized factories, UAE state agency WAM reported.
In terms of accumulated capital, structural metals manufacturing, transportation and other industries accounted for the highest, with $3.9bn, while the building materials industry came in second place with $3.2bn as the size of cumulative investment.