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The Gulf Organisation for Industrial Consulting (GOIC) is looking at establishing four manufacturing industries in Qatar to increase smoother integration between the GCC states.
GOIC signed an agreement with Abdullah bin Khalifa Company for Trading and Contracting to conduct four preliminary consultancy studies to establish the four manufacturing plants in Qatar.
The agreement is part of an ongoing effort to develop the industrial sector in the region and encourage GCC investments towards the manufacturing sector, said Abdul Aziz Al Ogeil, GOIC's General Secretary, according to The Peninsula.
Sheikh Abdullah bin Khalifa Al Thani, the owner of Abdullah bin Khalifa Al Thani Group, argued that the establishing of the four manufacturing industries in Qatar will raise the profile of the manufacturing sector and provide more jobs in the country.
More than US$46.5 billion was invested in 560 manufacturing industries by 2010 in Qatar. Small and medium enterprises (SMEs) contributed 83.6 per cent in these investments and 56 per cent of the workforce were recruited in the manufacturing industries sector.
In the wider GCC, investment in the manufacturing sector jumped from US$105 billion in 2005 to US$220 billion in 2010 and the number of plants went up from 10,000 to 13,000 plants.
SMEs account for 86 per cent of manufacturing industries in the region and contribute 6.6 percent in total investments in the sector for the Gulf region.