Gulf manufacturing boom expected

Member states of the six-nation Gulf Cooperation Council (GCC), which enjoy better conditions for manufacturing and, in turn, have great potential for job creation, are heading for a “manufacturing renaissance,” said Abdullatif A. Al-Othman, governor of the Saudi Arabian General Investment Authority (SAGIA). Al-Othman expressed optimism on manufacturing sector’s growth and said the “great manufacturing renaissance isn’t limited to one continent.” “The GCC countries enjoy promising conditions, and in some respects better, for tremendous job creation and long-term manufacturing growth than we’re seeing in other places,” SAGIA governor, said in his keynote remarks at the Second Middle East Process Engineering Conference (MEPEC 2013) in Bahrain. Referring to the growth of manufacturing sector, the SAGIA chief said: “The GCC countries offer an unparalleled, reliable supply of gas and liquid feedstock.” They provide unbeatable competitive advantages in location and logistics for exports to Europe, Asia and Africa, while domestic GCC consumer demand is also booming, he added, according to Saudi Arabia’s Arab News.