GCC SME sector attracts $15.3b investments

June 25, 2015 12:22 PM

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The Gulf Organization for Industrial Consulting (GOIC) revealed that the number of small and medium- sized factories in the GCC countries was around 13480 in 2014, including 10809 small factories and 2671 medium factories.

Al-Ageel noted that $ 6 billion were invested in small-scale industries and $ 9.4 billion dollars in medium industries.

According to GOIC data, the small and medium-sized factories amounted in 2014 for 82.7% of the total number of factories operating in manufacturing industries. In the same context, these industries offer employment to 44.1 percent of the total industrial sector workforce in spite of the small size of investments which contributed by 4% of the total investments in the manufacturing industries.

According to GOIC data, the number of small and medium- sized factories in the GCC countries was around 13480 in 2014, including 10809 small factories and 2671 medium factories. These factories represent 82.7 per cent of the total number of manufacturing industries in the GCC estimated to a total of 16292 factories.

Total investments in small and medium industries was up to $15.3 billion, just 4.1% of the total investments in the Gulf industrial sector estimated around 380.1 billion dollars in 2014. $6 billion of these investments were in small-scale industries and $ 9.4 billion in medium industries.

As for the workforce, small and medium industries offered employment for 674,933 workers or 44.1 per cent of the total number of workers in manufacturing industries, which recruit roughly 1.5 million workers. Small industries have recruited 28.7 per cent of the total employees while medium industries recruited 15.5 per cent.

In terms of accumulated capital, structural metals manufacturing, transportation and other industries came first with $ 3.9 billion, accounting for about 25 cent of the total investments in small and medium- sized industries. The building materials industry came in second place with $ 3.2 billion as the size of cumulative investment in 2014 was about $ 3.2billion, or 21%, followed by food products and beverages industry with $ 1.9 billion, amounting for 13 per cent of the total investments, followed by the rubber and plastics industry with $ 1.7 billion amounting to10.8 per cent, followed by the rest of the industries at less percentages.

As for the number of employees, construction metals, transportation and other industries ranked first with 184 000 workers accounting for 27 per cent of the volume of workers in small and medium-sized industries. Building materials industry came in second place with 118,000 workers forming 17 per cent of the total number of workers in small and medium-industries, followed by food products and beverages industry with 71 thousand workers and 10 per cent, then manufacturing of rubber and plastic products with 65 thousand workers and 53 per cent, followed by the rest of industries with less percentages.

Source: twentyfoursevennews.com

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