GOIC launches its book on "Plastic Industry & Trade in GCC Member States"

This book comes within a series of books GOIC issues on the status of manufacturing industries in GCC.

In the speech H.E. delivered in the launching ceremony of the book with the presence of media and representatives of plastic factories in the Sate of Qatar, H.E. Ahmad H. Dhaif, Secretary General for Research & Information, noted that in the last few years, industrial development efforts in GCC member states resulted in locating plastic products' industry amongst the important manufacturing industries in the region.

"In the year 2007, there were 1223 factories, with an investment size estimated to some $5bn and 79,000 workers; thus constituting 10.6% of the total number of manufacturing factories in GCC member states, some 4% of its investments and 9% of total labor."

H.E. reported.

When the above data is compared with the status of plastic industry in 1990; it can be noted that great progress occurred in Plastic industry during the stated period.

In 1990, the number of factories was 326 only investing USD 932 million, with 17.5 thousand workers; i.e. the investment size in this industry duplicated more than five times during the stated period.

It is worth pointing out that plastic products' industry is relatively new in GCC member states and started as a very limited replacement industry in mid-fifties of the last century.

At that time, it relied on imported raw materials from foreign markets.

With the increase in national income, steady improvement in standards of living, increase in population, and the increased demand for plastic products- which were mostly imported- and after the setup of local final petrochemicals which made basic feeder plastic industry available in the early eighties of the last century in each of Qatar (QABCO 1980s) then Saudi Arabia (SABIC); plastic products' industry witnessed dramatic growth, evident in the setup of many new production ventures, considerable diversity in product types, and significant improvement at quality level.

Accordingly, the designed capacities of plastic industry surpassed 2.3 million tons in 2007 (diversified plastic products including fiberglass), compared to 0.5 million tons only in 1990.

During the same event, GOIC declared that it will be conducting The World Industrial Summit for Subcontracting & Partnership (WISSP) for Petrochemicals and Plastics, in Doha, State of Qatar, in November 2009.

In this premier event, organized in cooperation with Summit Events, Switzerland, GOIC intends to involve all major regional players in the petrochemical and plastic sectors, as well as the relevant governmental institutions and authorities.

The importance of this event stems out from the abundance of the fuel and feedstock and the heavy investments in the basic petrochemical sector position the Middle East as the 'natural home' for the petrochemical industry.

In addition, there is the fact that all the governments within the region are looking to develop their downstream industry, and are allocating low cost feedstock to be dedicated to specialized technologies.

It is expected that through this events, the regional companies that are seeking to create dynamic partnerships and subcontracting arrangements will meet with international companies that have the technical know-how to add value to local products, in order to enhance industrial output.

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.

GOIC is accustomed to provide the economic and industrial society in the Gulf region with essential publications that shed light on the industrial activities in the region, amongst those is the book on Aluminium Industry & Trade in GCC and Gulf Statistical Profile; further to a group of specialized studies and investment opportunities beside many activities like conferences, seminars and training courses.