Industry now a key pillar in economic diversification: Kuwaiti official

The 47th preparatory meeting of Undersecretaries of Ministries of Industry of the Gulf Cooperation Council (GCC) countries

KUWAIT CITY, Oct 15: The industrial sector has become a crucial engine for economic diversification and a foundational element in building resilient economies, Acting Director General of Kuwait’s Public Authority for Industry (PAI), Shemlan Al-Juhaidli, declared on Wednesday.

Addressing the inaugural session of the 47th meeting of the Gulf Cooperation Council (GCC) undersecretaries of industries, Al-Juhaidli stressed the urgent need for unified regional efforts to confront global challenges and capitalize on opportunities presented by the industrial revolution and advanced technologies.

He described the session as a continuation of the GCC’s ongoing journey toward industrial cooperation, reflecting the visionary leadership’s prioritization of industry within sustainable economic development frameworks.

The meeting served as a precursor to the upcoming 55th session of the GCC Industrial Cooperation Committee and focused on deepening Gulf industrial integration, enhancing investment climates, and developing supply chains to sustain and grow national industries.

GCC Assistant Secretary-General for Economic and Development Affairs, Khaled Al-Snaidi, highlighted that the industrial sector accounted for 12.7 percent of the GCC’s GDP in the first quarter of 2025, underscoring its role as a principal contributor to non-oil sector growth and economic diversification.

Al-Snaidi noted significant improvements in the GCC’s rankings on the 2024 Competitive Industrial Performance Index, reflecting advancements in technology, innovation, productivity, and trade. The GCC collectively ranks among the top 60 industrial economies globally in manufacturing value added and exports.

The GCC countries pursue a unified industrial development strategy, harmonizing legislation and regulations to encourage industry, combat dumping, and enforce protective measures aimed at building a competitive, sustainable industrial base that enhances economic security and generates quality jobs.

The session addressed key issues such as strengthening Gulf industrial integration, setting standards for national product localization, managing exempted goods and penalties for violations, and promoting circular economy initiatives. It also covered the establishment of an industrial innovation center, cooperation with the United Nations Industrial Development Organization, and plans for the Gulf Industrial Platform and Gulf Industry Day.

Al-Juhaidli extended congratulations to Bahrain for hosting the next Industrial Cooperation Committee meeting, emphasizing the spirit of Gulf solidarity and collective action to further deepen industrial integration.

The discussions reflected the GCC’s commitment to advancing industrial development as a strategic pillar for regional prosperity and sustainable economic transformation.

The 47th preparatory meeting of Undersecretaries of Ministries of Industry of the Gulf Cooperation Council (GCC) countries.