The Gulf Industrial Investment Organization reported that the total investments in the industries in these states had tripled in the course of a decade, reaching $83.4 billion in 1999, reported Al-Raya newspaper. According to the report, in 1988, the investments in the local industries stood at $28.5 billion.
The organization asserted that the local manufacturing industry had grown remarkably in recent years. The number of factories operating the Arabian Gulf states increased from 4,700 in 1988 to 7,400 in 1999. The contribution of the industrial sector to the GDP presently reaches 10 percent.
By the end of 1999, the value of non-oil exports from these states totaled $10.8 billion. –(Albawaba-MEBG)