MUSCAT: The Oman Chamber of Commerce and Industry (OCCI) hosted a workshop to promote five priority joint-Gulf industrial investment opportunities to the region’s private sector, part of a wider drive to deepen industrial integration among GCC states and reduce the bloc’s reliance on imports.
The event, held on Wednesday, in cooperation with the General Secretariat of the Gulf Cooperation Council (GCC) and the Federation of GCC Chambers, implements a decision taken by GCC industry ministers in April approving the outcomes of a study that identified the five opportunities and mandated their promotion to Gulf businesses.
The five projects span industries described by organisers as strategically valuable: the manufacture of high-pressure seamless pipes for the oil and gas sector, single-use sterile surgical instruments, high-purity copper cathodes, silicon wafers for semiconductors and multi-parameter patient monitoring devices.
They emerged from a screening process that analysed 26 potential investments and shortlisted 15 before settling on the final five, according to a presentation by Lamia al Shanfari of the GCC General Secretariat. She said the wider initiative aimed to strengthen industrial integration, cut import dependence, raise the competitiveness of Gulf industry and create quality jobs.
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