Small and Medium scale industries in the gulf encounter fabulous successes
More and more workers have entered the transportation and construction industries as of the last year, and $9.4 billion (AED 34.5 billion) were spent on the medium-sized factories, as well as $6 billion (AED 22 billion), which were spent on the smaller plants, as per the instructions of the Gulf Organization for Industrial Consulting (GOIC).
It is evident that people are keenly interested in the small and medium-scale factories of the GCC countries, as investments have touched the breathtaking $15.3 billion (AED 56.15 billion) mark.
According to the GOIC records, the medium and small-sized production lines measured in 2014, which was for 82.7% of the aggregate number of industrial facilities running in manufacturing businesses in the GCC, assessed to a sum of 16,292 plants.
Following this further, these factories have played a crucial role in providing the bread and butter for a number of families in the gulf territory. In the recent times, these moneymaking ventures have created jobs for 44% of the comprehensive contemporary teams of workers in the industrial sector despite the pint-sized investments, which funded the manufacturing businesses by 4% of the aggregate interests. They have also offered occupations for 674,933 specialists from the aggregate number of laborers in all of the manufacturing businesses, which enlist about only 1.5 million professionals. The medium sized factories have selected 15.5% of the summative number of workers, while the small plants have enrolled 28.7%.
As indicated by GOIC, medium and small enterprises are dispersed numerically on every single industrial consignment; however, they are generally focused on the improvements in transportation, construction metals and various commercial businesses with 3,683 plants, which constitutes to 27% of the aggregate number of medium and small-scale businesses.
The conception of the non-metallic material sector, which involves building materials, was crowned to be on the second rank with around 2,297 plants representing almost 17% of the aggregate number of medium and small-scale industrial facilities, trailed by the food and refreshment enterprises as well as the plastic and elastic creations with 11%, and the other industrial ventures on a smaller level.
As of 2014, there are 2,671 medium-sized factories in the territory, as well as 10,809 small ones. And so, these ventures are encountering noteworthy successes.