At “Towards a competitive manufacturing industry and balanced development” forum organized by MODON
GOIC suggests investment opportunities with a value of 62 million US Dollars to KSA
The Gulf Organization for Industrial Consulting (GOIC) proposed five investment opportunities for the Kingdom of Saudi Arabia with a total value up to 62 million US Dollars (232.5 million Saudi Riyals). These investment opportunities provide jobs for nearly 500 workers.
This event took place during the participation of GOIC at the third investment opportunities forum in Jeddah entitled “Towards a competitive manufacturing industry and balanced development”. This forum was organized by the Saudi Industrial Property Authority (MODON) under the patronage of his Excellency Dr. Tawfiq Bin Fawzan Al-Rabiah, Saudi minister of commerce and industry at the Park Hyatt Hotel in Jeddah, KSA.
Mr. Swapan Kumar Mandal, Engineering Consultant at the GOIC Industrial Investment Department delivered a presentation about the organization and its activities and programs. He explained different investment opportunities including aluminium auto parts casting, solar panels, hard gelatin capsules, metallic coating lines and surgical gloves.
Mr. Mandel indicated that the value of these investments ranges between 52.5 million USD (196.88 SR) and 62 million USD (232.5 SR), and that they would provide about 500 job opportunities.
Most of the raw materials of these products are available in Saudi Arabia while the remaining raw materials can be found in other Gulf countries. Upon execution, these investment opportunities will allow industrialists and investors to meet the increasing demand for these products in KSA and other countries in the region.
This forum was organized to support the Saudi National Industrial Strategy that provides a national vision of the central role of the manufacturing sector in terms of balanced development. It promotes the sustainability of Saudi natural resources by maximizing their revenues in order to diversify income sources. These revenues are then to be invested to improve local human and technical expertise. Furthermore, this forum aimed at providing a series of important investment and manufacturing opportunities for investors and businessmen, especially with the participation of several funders.

 

Editor’s further information:
Gulf Organization for Industrial Consulting (GOIC) overview:
GOIC is a regional organization that brings together the United Arab Emirates, the Kingdom of Bahrain, the Kingdom of Saudi Arabia, the Sultanate of Oman, the State of Qatar, the State of Kuwait and the Republic of Yemen. It is based in Doha, Capital City of Qatar. It is an advisory knowledge-based institution aiming at developing regional industries by providing data, information, specialized researches, consultations and technical services for the public and private sectors in GCC countries. This organization is the top industrial consultations expertise hub boosting industrial development in GCC countries and Yemen. It seeks industrial integration and coordination between Member States and endeavours to shape a regional industrial policy.