Investments in the Gulf Cooperation Council (GCC) region’s paper products industry grew from $2.6 billion in 2010 to $3.9 billion in 2015, according to a new report issued by the Gulf Organization for Industrial Consulting (GOIC).
Saudi Arabia ranked first, with cumulative investments exceeding $3 billion in 2015 – accounting for 77.5 percent of total investments. The UAE followed with 14.2 percent.
The report said the average investment per factory in the GCC totalled $8.51 million.
Gulf Arab states are looking to diversify their economies and reduce reliance on the hydrocarbon sector. Manufacturing is one industry that governments are investing in to support job creation and the increase the role of the private sector.