GCC launches first phase of joint industrial investment opportunities

During the inaugural ‘Made in Gulf’ forum and exhibition in Bahrain, Gulf Cooperation Council (GCC) Secretary-General Jassim Al-Budaiwi announced the launch of five joint industrial investment opportunities. These represent the first phase of an ambitious project aimed at delivering 20 shared industrial investment opportunities across the region.

The GCC industrial sector currently comprises over 22,000 factories employing 1.7 million workers, contributing 13% to the region's total GDP. Al-Budaiwi emphasized that industrial integration is a cornerstone for economic diversification, noting that the GCC ranks highly in global industrial competitiveness indices.

In a separate development during a consultative meeting of GCC Ministers of Commerce and Industry in Manama, the National Fund for Small and Medium Enterprise Development proposed the creation of a ‘Gulf Industrial Passport’ for products. This initiative, presented by Kuwaiti entrepreneur Omar Al-Mutairi, would function as a single digital file for each product. The digital file would consolidate essential data, including manufacturer details, country of origin, customs classification, and required certifications, to streamline regional trade and integration.