GOIC conducts workshop on financial rehabilitation of non-performing industries

The workshop aims to develop the capacities of participants to predict sickness and/or to take corrective actions and turnaround management of sick industries.

The workshop will be conducted in six sessions by experienced industrialist trainers and using real life examples and group discussions of important issues including Industrial Sickness: background to sickness, financial aspects, prediction and prevention; Analysis: diagnostic analysis, analysis of trends and ratio analysis; SWOT Analysis, finance management techniques, benchmarking and growth strategy; Company Restructuring: balance sheet restructuring, assessment of fixed and working capital needs and mode on finance; Profit and Cash Flow projections including repayment of loans/borrowings; Long term business strategy and Turnaround Management along with Case studies.

It is essential to mention that one of the recent concerns for the industrial sector in the GCC member states is that the number of industrial units considered "sick" or showing signs of sickness has increased to the extent that they exceed more than 25% of the total industrial units in some countries. Rehabilitation of these industries is thus very important for continued prosperous industrial development. In its turn, the process of rehabilitation of sick industries is more complex than starting anew, and needs a very specialized set of skills. Even more importantly, it is essential to assess correctly whether an industry is showing signs of sickness and if so, what means to adapt to prevent it from going sick.

This workshop is part of GOIC's program for 2008-2009 prepared in cooperation with the Ministry of Commerce and Industry in Oman; and comes in line with its role in fostering SMIs in view of the increasingly important role they are playing in economic development internationally.

In terms of participants, the workshop is intended to benefit participants belonging to certain categories like Entrepreneurs or Businessmen; Business Development Managers; Managers of companies facing sickness like difficulties; Development Bank Staffs; Investment Advisors; Project Managers; Consultants; and Industrial promotion Authorities.

It is worth mentioning that GOIC, founded in 1976, targets developing industries throughout GCC by means of providing, both the industrial and economic sectors, with distinctive knowledge, consultancy and technical services. GOIC's mandate is to promote the highest levels of industrial cooperation and collaboration, in both the public and private sectors, by providing a complete set of high-quality, specialized research, information and consultancy services in industrial and economic fields.