(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Oct 15 (KUNA) -- Acting Director General of the Public Authority for Industry, Shemlan Al-Juhaidli, on Wednesday affirmed that the industrial sector has become a prime stimulant for economic diversity and a pivotal factor for building robust economies.
The current period "warrants that we pursue work as a single team and unify efforts to face international challenges and seize promising opportunities provided by the industrial revolution and modern technologies," said Al-Juhaidli, addressing inaugural session of the 47th meeting of the GCC undersecretaries of industries.
Today's meeting is complementary to the distinguished march of the joint Arab action in the industrial sector; such a march has been growing continuously as a reflection of the sagacious vision of "our leaders who consider industries as a great priority within the approach of sustainable economic development," he said.
It was held as a prelude to holding the 55th session of the GCC industrial cooperation committee.
Meanwhile, the GCC Secretary General Assistant for Economic and Development Affairs, Khaled Al-Snaidi, said the industrial sector accounted to 12.7 percent of the gross domestic product in the GCC countries in the first quarter of 2025, thus proving that it was one of the sectors that contribute to growth of the non-oil sectors and a basic stimulant for diversifying the "economic fabric of the GCC states."
The GCC states recorded noticeable improvement in the 2024 international industrial competition index, mirroring these countries' technological, innovative, productive potentials and commercial performance. Moreover, the GCC countries ranked 60th among the top robust industries, worldwide, with respect of the manufacturing value and the manufactured exports.
The GCC states adopt an inclusive approach in coordinating the industrial activities through execution of a unified industrial development strategy, unifying relevant legislations, combating dumping and taking precautions.
These exerted efforts, Al-Snaid added, aim at building a competitive and sustainable industrial sector that would boost the economic security and provide qualitative jobs, "thus we are in front of new challenges to increase contribution of the industries in the economies, enhance advanced industries and stimulate investments in the manufacturing industries and clean technologies."
Participants in the session discussed a host of issues such as boosting the Gulf industrial integration, tackling the criteria of nationalizing the domestic product and cementing the bonds between resources and industrial potentials to trim dependence on outside proceeds. (end)
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