In collaboration with Kuwait Chamber of Commerce and Industry and Kuwait Foundation for the Advancement of Sciences

GOIC presents the results of the industrial map and suggests new investment opportunities worth one billion USD

 

The Gulf Organization for Industrial Consulting (GOIC) presented the results of the industrial map for GCC countries during a workshop that was organized in collaboration with Kuwait Chamber of Commerce and Industry (KCCI) and Kuwait Foundation for the Advancement of Sciences (KFAS) at KCCI headquarters (Al-Boom Hall). During this workshop, GOIC suggested industrial investment opportunities with a value estimated at nearly one billion USD (286 million Kuwaiti Dinars) in the areas of petrochemical, chemical, food, pharmaceutical, aluminium and steel industries.

 

In his speech, Mr. Mohammed Bin Khamis Al-Mukhaini, Assistant Secretary General for Industrial Information and Studies at GOIC said: “GOIC endeavours to communicate with the private sector; it is a promising sector in terms of industrial and economic development in GCC countries. In this context, GOIC’s strategy and five-year plan focused on targeting the private sector with activities and projects, since it is a main partner in the industrial and economic development process in Kuwait and Gulf countries.”

 

Al-Mukhaini continued: “In contribution to the advancement of the vital industrial sector in Kuwait, GOIC considered it was necessary to brief you about the results of the industrial map study. We also decided to inform you about promising industrial opportunities in the local industrial sector aiming at drawing investments and diversifying Kuwait’s economic pool. In fact, these investment opportunities will play a major role as a component of the economic resources system, since they include providing job opportunities for local manpower and promoting economic and social activities.”

 

Al-Mukhaini also said that “investment opportunities suggested in Kuwait are in the areas of metal, plastic, chemical and food industries. These fields provide promising opportunities that can boost economic progress in the country and contribute in its industrial development. In fact, Kuwait has abundant natural resources and it is close to Arab and Gulf markets too.”

 

Furthermore, Engineer Ismael El-Shafei, Head of the Industrial Promotion Unit at GOIC exposed potential industrial investments in Kuwait. He said that the proposed projects mainly target small and medium industries such as: Aluminium chloride, high-density polyethylene recycling, hard gelatin capsules, solar collectors, sulfur concrete production, soy protein, margarine, cold rolled steel sheets, iron pipes with steal coating and polyethylene terephthalate granules (PET).

Al-Shafei also mentioned that choosing the aforementioned opportunities was based on clear data and systematic approach; every project must be a new endeavour that has not yet been attempted and its production inputs are to rely on available raw material. The projects should also create job opportunities for local cadres, generate exporting opportunities, be integrated into existing industries and respond to a local and regional demand. According to Al-Shafei, it is estimated that upon the execution of these projects, at least 600 job opportunities will be created.

 

At the end, the participants attended a presentation about the Industrial Market Intelligence Portal (IMI Plus) that was recently launched by GOIC. It offers accurate and accredited statistical information to investors and other parties. It is also an important database that is regarded as a valuable source for carrying out informed researches and feasibility studies and making sound commercial decisions.