GOIC Board members conduct their 62nd Regular Session

Their Excellencies the deputy ministers of industry in GCC member states, Board members also participated.

His Excellency Mr. Nader Khalil AL Mu'yyad, head of GOIC board for session 62 started the meeting by saying that it was clear in the past years that the utmost benefit from industry programs is fundamentally connected to the ability to locate yourself in the global supply chain as well as the ability to grasp the international economic signs as it strengthens events' direct effect concept and far reached tendencies on all entities and systems all over the world.

"GCC member states fully recognize that they are an influential and influenced parts of this world, as they are enjoying competitive merits in their economies as well as political stability, this creates a proper environment for economic development," said His Excellency.
"GOIC has already started putting new work strategy as some of its effects were reflected on its programs for the last year."

On his turn, Dr. Yousef Shehab Al Bahr, Deputy General Manager in Public Authority for Industry in Kuwait, assured that GOIC has achieved a quality turnaround in terms of mentality and mechanisms, and that it is important to publicize its experience on other regional and international organizations especially in the field of transference from budget government financing to self-financing.

It is worth mentioning that there are new important industrial projects that serve GCC member states within the new tendency of GOIC. GOIC is also studying two new projects with the cost of US 1 Billion (US 500 million per project). The board also reviewed a report on GOIC achievements in 2005, as well as 2006 plan and approved GOIC suggested budget - QR 41 million.