GCC to launch mammoth economic ventures Kuwait official

KUWAIT: Gulf Cooperation Council (GCC) member states plan to execute giant development projects to prop up inter-Gulf economic integration, said a senior Kuwaiti industry official Thursday.

Speaking to reporters following a meeting of GCC industry undersecretaries in Kuwait, Director-General of Kuwait’s Public Authority for Industry Abdulkareem Taqi said today’s meeting mainly aimed at finalizing a joint industrial system.

He underlined that the Gulf industrial system is of paramount significance to finding diversified income sources with a view to broadening the production base and curtailing reliance on oil as a crucial source of income.

He added that it is also essential to keep abreast of the global industrial advancement, compete internationally and create industrial investment openings in the GCC countries.

On his part, Secretary-General of the Gulf Organization for Industrial Consulting (GOIC) Ahmad Al Mohammad said that his agency was seeking to revamp its role and tasks in the coming period in order to better serve the GCC member states.

He added that the GCC officials had considered plans to upgrade industrial efficiency and offer high-quality services to the Gulf industrial sector.

Source: Kuwait News Agency