84% SMEs in GCC Member States: The Second Deputy Prime Minister launches the Reverse Fair 18th March

Thirty companies will participate in this event with the aim of developing business interchange amongst the potential major companies in the fields of Petrochemicals and Chemicals; Oil and Gas as well as Desalination; together with subcontractors from a wide range of specializations such as Metal processing and Forming, Rubber and Plastic, Electronics, Electrical equipments and components and other industrial services.

The purpose of this fair is to generate the opportunity for a linkage between the suppliers and buyers, where companies searching for suppliers for their inquires on one hand, and companies looking for businesses on the other will meet under one ceiling.

The fair is considered the first of its kind in the region and it will help create business partnerships and linkage between the suppliers and buyers in the industrial sector in the region; hence it will result in time saving, revenues increase and optimization of production capacity utilization as well.

It is worth mentioning that the number of SMEs in GCC member stats constitutes a share of 84% of the total number of factories in GCC member states in 2005. The number of small-scale factories (investing less than US D 2 millions) is estimated to some 6070 factories, i.e. 65% of the total number of factories (9336); while the number of medium-scale factories (investing US D 2-6 millions) reaches some 1774 factories, thus constituting 19% of the total number of factories for the same year.