Financial Analysis: An Assessment of Past Business to Forecast Future
4-8 July 2011

As part of its continuing endeavors to enhance the individual and organizational capacity of the industrial sector in the GCC countries and Yemen under the Training and Capacity Development Program (TCD), the Gulf Organization for Industrial Consulting (GOIC) is organizing a training workshop in financial analysis, in cooperation with the United Nations Industrial Development Organization (UNIDO) and the comprehensive regional program of the GCC on July 4-8, 2011, at the UNIDO Headquarters in Vienna, Austria.

Pigeon Stanislaw, who works with several government and non-governmental institutions and international organizations spread across nearly 30 countries, where he has participated in designing and developing multiple programs at the United Nations, the UNIDO as well as the United Nations Development Program and others, will be the key speaker of the workshop.

The workshop aims to develop the capacity of participants in preparing project development and pre-investment studies as well as feasibility studies and project mobilization, in addition to the structure of financial analysis, key questions and financial accounting. The workshop also aims to contribute to raising competency in the field of forecasting and studying financial statements, financial accounting standards and conducting financial assessment of investment projects, assessment of projects and ability to analyze risks and financial analysis compared to the economic analysis of the project, and finally, developing assessment reporting and project presentation. Since financial analysis is based on the use of qualitative and quantitative indicators to measure the companies’ activities in order to help decision makers in judging the efficiency and feasibility of investing and directing them to the rational decisions of present and future investments, financial analysis will enable the targeted participants in this course to do a series of studies on the financial statements to assess the past in order to forecast the future.

Financial analysis helps to determine the company’s real performance. Participants in the workshop, organized by the GOIC and the UNIDO, will learn how to read and analyze statements of operations containing financial amounts or loss realized by the company based on current costs and sales. This is in addition to estimating the general budget, which provides the amount of company’s assets to support its current and future operations, which would give a quick overview of the company's assets and short-term debt at a certain date.

Workshop participants will also study and compare the contents of financial statements for a number of years to identify factors that affect the financial position. Studying financial analysis is important for making forecasts on the global economy besides assessment of risk and return. It also contributes to determining the world-wide emerging risks, such as the unrest in the Middle East and North Africa, which investors see as a source of risk in the near term. However, analysts believe that the impact of this unrest on the human element and political factors is far greater than its impact on economy.

The financial analysis workshop will enable its participants – industry professionals, investors and others – to actively contribute towards the shaping up of the future of industrial development in the GCC and acquaint them with latest international developments through forecasts on key economic indicators. This is among the main objectives of GOIC. They will be able to develop strategic plans and understand the implications resulting from global changes on balance sheets of their companies and establish preventive and risk management systems.

GOIC is diligently seeking through the TCD program to increase individual and organizational capacities in the industrial sector of the GCC countries and Yemen through a number of campaigns and courses. It is easy to register online through the GOIC website: www.goic.org.qa, or visit its pages on Facebook, Twitter and YouTube.

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GPIA Launched in the GCC and Yemen
GPIA Gets Constituent Committee, Headquarters in Qatar
9 July 2011

The launch of the Gulf Pharmaceutical Industries Association (GPIA) in the GCC countries and Yemen was announced last week on Thursday during the first coordination founding meeting of the GPIA. The attendants elected the constituent committee of the GPIA, which includes President Dr. Ahmad Al-Sulaiti and members Dr. Assad Al-Zukair, Dr. Taleb Al Musalimi, Saud Al-Naimi and Mahmoud Jamjoom.

The meeting, which was hosted by the GOIC at its headquarters in Doha, was attended by the GOIC Secretary-General HE Mr. Abdulaziz bin Hamad Al-Ageel, Assistant Secretary-General for Industrial Information Sector and Studies, Ahmad Al-Daif; Assistant Secretary General for Industrial Projects Sector, Mohammed Al-Mazrui; Secretary General of the Jordanian Pharmaceutical Manufacturers, Hanan Sabul; representatives of the Jordanian Pharmaceutical Manufacturers as well as other medical supplies and pharmaceutical distribution companies in the Gulf countries and Yemen.

The meeting began with the GOIC Secretary General’s speech, in which he said: “The existence of the GPIA will cater to the interests of its members and enhance the performance and efficiency of this sector. This will positively reflect on the citizens’ health and social conditions.” Al-Ageel pointed out that the” "Pharmaceutical market in the Gulf region and Yemen is undergoing an important historic phase, which requires the presence of an active entity for the pharmaceutical manufacturers in this region to be able to coordinate efforts, overcome obstacles and challenges and take advantage of the available opportunities. The Gulf market is a promising one due to its continued high growth rates, and is expected to rise in value from nearly $6 billion, at present, to nearly $10 billion by 2020.”

Al-Ageel stressed that “the existence of an association representing manufacturers at this stage will help in chartering policies and formulating balanced legislations that take into account the interests of local producers. It will also provide medicines of high quality and in reasonable prices to the citizens.”

The GOIC Secretary General announced the contribution of the GOIC in establishing the pharmaceutical industry, pharmaceutical supplies and health care database in the GCC and Yemen, in collaboration with the concerned government authorities in these countries, in addition to the multiple clients study in the pharmaceutical industry, including development of several promising investment opportunities in the sector coupled with support of the pharmaceutical companies in this region. Hanan Sabul in his speech elaborated on Jordan's experience in establishing the pharmaceutical producers association. A number of participants shared their views on the mechanism of establishing the association and discussed several proposals submitted by the participants.

The conferees reviewed the GPIA Articles of Association and the appointment of the Executive Secretariat, and discussed three proposals for the GPIA budget for the first year, along with a number of topics related to the mechanism of the establishment of the GPIA, including the domestic law of the Association of the British Pharmaceutical Industries (ABPI) and the Gulf Petrochemicals & Chemicals Association (GPCA) Articles of Incorporation in order to take advantage of previous experiences in this area. Additionally, a presentation was made on the objectives expected from the GPIA, its vision, mission and a discussion on the types of memberships for the proposed association.

Law attorney Hassan Ashour presented an overview of the Qatari law model for the foundation of the GPIA in case the constituent committee decides upon Qatar as the GPIA's headquarters.

Nominations to the GPIA constituent committee were announced and the committee consists of: President Dr. Ahmed Al-Sulaiti (Qatar Pharma - Qatar), and members Dr. Assad Al-Zukair (Medical solutions Ltd. - Saudi Arabia), Dr. Taleb Al Musalimi (Oman Pharma - Sultanate of Oman), Saud Al-Naimi (Julfar - United Arab Emirates) and Mahmoud Jamjoom (Jamjoom Pharma - Saudi Arabia).

The meeting concluded with a speech by Dr. Sulaiti in which he thanked the GOIC for hosting the GPIA. Acknowledging that a huge challenge lies ahead of the GPIA, he wished for the GPIA to achieve its desired objectives.

The Constituent Committee members agreed upon Qatar as the country where the headquarters will be initially based. The next meeting is scheduled for July 17, 2011 in GOIC in Doha.

This meeting was held at the recommendations of the first coordination meeting of the pharmaceutical manufacturers held by the GOIC in April. The meeting aimed to develop this sector and to promote cooperation between the pharmaceutical manufacturers in the member states and develop specific mechanisms to strengthen communication and continuous coordination and consultation between them.

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GOIC Signs MoU with KIET for Exchange of Industrial Expertise and Information
29 May 2011

The Gulf Organization for Industrial Consulting (GOIC) recently concluded a Memorandum of Understanding (MoU) with the Korea Institute for Industrial Economics and Trade (KIET) to develop a framework for facilitating coordination and creating a strategy of mutual cooperation between the two parties. The MoU was signed by Ahmed Daif, GOIC Assistant Secretary General for Industrial Information and Studies, on behalf of the Secretary-General, HE Mr. Abdulaziz bin Hamad Al-Ageel, and KIET President Beung John Sung on May 29 at the GOIC headquarters in Doha.

Under this MoU, GOIC agreed with the Korean delegation to conduct joint studies in core subjects related to the economy and industrial development, in addition to the participation of the two parties in seminars on issues of common interest related to economic cooperation and industrial development.

The two parties agreed to exchange experiences and visits in order to promote academic exchange, as well as to benefit from the expertise available to each side to strengthen corporate capacity building.

The Korean delegation toured the GOIC following the signing of the MoU, in which they were briefed on GOIC’s services and its various sections.

The Korea Institute for Industrial Economics and Trade (KIET) was founded in 1976 under the name of the Korean Foundation for Middle East Studies. It developed and expanded and acquired its current name. It provides information and advice on industrial and trade policies to the Korean government as well as the private sector, and contributes to the promotion of production and competition.

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GOIC Chief Participates in Industrial Cooperation Committee Meeting in Abu Dhabi
18 May 2011

HE Mr. Abdulaziz bin Hamad Al-Ageel, Secretary General of the Gulf Organization for Industrial Consulting (GOIC) participated in the 33rd Industrial Cooperation Committee meeting in Abu Dhabi, United Arab Emirates, on May 18, 2011.The meeting was attended by the Ministers of Industry of the GCC countries.

The Committee discussed a number of issues of interest to boost joint work in the industrial field, including a report on the communications between the GOIC and the UNIDO regarding the setting up of a comprehensive regional cooperation program among the GCC countries, as well as to modernize and develop the industry in the region.

During the meeting, Al-Ageel reviewed a report on the operational program of the organization for the first quarter of 2011, which was prepared under the directives of the Committee.

Al-Ageel highlighted the developments in the industrial map project of the GCC countries, which was approved pursuant to ratification by the GCC Ministers of Industry. He shed light on the statistics and analysis of the existing Gulf industries and future industries to identify promising opportunities in view of their competitive advantage, and outlined the current situation of the industry infrastructure and supporting institutions. Al-Ageel drew attention to the completion of the Phase I of the industrial map. The overall results of this project were drawn and will be released at a meeting of the Industrial Cooperation Committee in September, which will be accompanied with a press conference to cover various aspects of the study.

Al-Ageel made a brief presentation on the comprehensive regional cooperation program between the GOIC, the UNIDO and the GCC that has been assigned to the GOIC, which would supervise and follow-up on preparations, in accordance with a 2007 resolution of the Ministers of Industry.

Commenting on the GOIC’s preparations for the study of the non-oil export strategy of the GCC countries, Al-Ageel said that the GOIC has prepared a draft agreement for the study, which awaits approval by the GCC.

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GOIC Submits Paper on ‘Industrial Technical Support Program’ at MOWE Forum
29 May 2011

Riyadh: Secretary General of the Gulf Organization for Industrial Consulting (GOIC), Abdulaziz bin Hamad Al-Aqeel, submitted a working paper on GOIC’s role in the field of energy conservation by utilizing “GOIC’s Industrial Technical Support Program" at “The efficiency of electricity Forum in Riyadh” on Sunday. The forum is being organized by the Ministry of Water and Electricity (MOWE) in Saudi Arabia at the Riyadh International Convention & Exhibition Center- RICEC and will run until May 31.

In his working paper, Al-Aqeel drew attention to the fact that GOIC realizes the importance of supporting small and medium industries in facing challenges and competition in the global market with minimal impact on the environment. Under the ‘Industrial Technical Support Program”, which was established in 2001, GOIC provides a low-cost comprehensive industrial assessments for small and medium-sized industries. He noted that the results of the recent assessments conducted by the organization for a number of plants and factories in some GCC countries have shown potential reduction in operating costs for small and medium industries by more than $6 million for about forty factories that benefited from the technical assessment program.

Listing the benefits of the program, the Secretary General said: “The program has resulted in reduction in power consumption, reduced waste, increased productivity, reduced pollution, improved financial performance, and increased satisfaction of employers and workers.”

Al-Aqeel also pointed out the significant development taking place in the downstream industries sector in the GCC countries in general and in Saudi Arabia in particular. He said that during the past ten years, the number of operating plants in the GCC countries doubled, from 7490 plants in 2000 to 13,035 plants in 2010. During the same period, the volume of investments doubled by more than two and a half times, from US$86.6 billion to US$219.5 billion.

He said the number of operating plants in Saudi Arabia has increased by 50 per cent, from 3118 plants in 2000 to 4663 plants in 2010, and accounted for nearly 36 per cent of the total number of plants in the GCC, while the volume of investments in this sector increased by 91.5 per cent, from about US$59 billion in 2000 to about US$113 billion in 2010, accounting for 51.5 per cent of the total industrial investments in the GCC countries.

In the electric power field, consumption in the Kingdom increased from approximately 114.2 million megawatt/hour in 2000 to nearly 193.5 million megawatt/ hour in 2009, an increase of 69.5 per cent during this period, and an annual growth rate of 6 per cent.

Al-Aqeel reiterated that this great development in a number of plants, industrial investments and energy consumption has led to dramatically increase the diversity in local industrial products, thus increasing their contribution to the GDP of the non-oil sectors.

In completion of the GOIC preparatory steps to start studying non-oil export strategy of the GCC States, Al-Aqeel announced that the Organization has prepared a draft agreement for preparing the study, which awaits approval by the GCC.

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The Program Of Technical Assistance
21 December 2010

The Gulf Organization for Industrial Consulting (GOIC) pays great attention to the program of technical assistance provided to Member States, and seeks to achieve more successes in this area through the establishment of centers for technical support in collaboration with the Chambers of Commerce and Industry in the GCC countries. During the year 2010, the program has assessed two factories in Riyadh, Saudi Arabia, and the results of the evaluation have revealed positive proposals that can result if applied to a reduction in power consumption and gas emissions. This would eventually bring cost savings, reduce operating costs and industrial wastes, and improve production efficiency.

On the sidelines of this meeting, the Gulf Organization for Industrial Consulting (GOIC) has concluded a Memorandum of Understanding with the Chamber of Commerce and Industry in Riyadh, Saudi Arabia, aiming at the establishment of a relationship of cooperation and coordination, and the creation of a strategic alliance and partnership between the parties, as well as provision of a framework for cooperation for the development of industrial businesses.

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GOIC and Arab Industrial Development for Mining Organization, Discuss ways of cooperation (AIDMO)
Doha - Qatar
20 October 2010

Mr. Abdulaziz Hamad bin Al Aqeel, the Secretary General of Gulf Organization for Industrial Consulting (GOIC), met with Mr. Mohammed bin Yousuf Director-General of the Arab Organization for Industrial Development and Mining (AIDO). The meeting focused on how to activate the memorandum of understanding signed between the parties, especially in the areas of training and knowledge-based industries and agro-industry.
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Doha, October 18 (QNA) - The Gulf Organization for Industrial Consulting (GOIC) has signed a memorandum of understanding (MoU) with the Riyadh-based King Saud University, aims to establish a strategic partnership between the two sides to provide services in areas of projects management in both the public and private sectors in member- states of the Organization.

A press release issued by GOIC in Doha on Monday said that the MoU was signed in Riyadh for the Gulf Organization for Industrial Consulting (GOIC) by its Secretary General Abdulaziz bin Hamad Al-Aqeel, while it was signed for King Saud University by its Vice Chancellor Dr. Abdullah bin Abdurrahman Al Othman .

The three-year MoU covers areas of cooperation between the two sides for implementation of the consultancy studies and technical feasibility studies, economic and development opportunities and specialized training courses in areas of industrial development, scientific seminars, and industry conferences with a view to serving the objectives of industrial development in addition to developing the use of modern technologies, including new and renewable energies and increase the efficiency of industrial production for small and medium-scale enterprises through the rationalization of energy consumption and exchange of technical information for industrial production.

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Gulf Organization for Industrial Consulting convenes training session on plastics technology
October 17 ,2010
ameinfo
PRESS RELEASE

The Gulf Organization for Industrial Consulting (GOIC) will hold a training course on plastics technology at its headquarters in Doha, Qatar during 1-4 November 2010. The course is intended for entrepreneurs, technicians, engineers, and supervisors in the plastic industries.
The course aims to enrich the knowledge of participants on plastic materials and their applications, different types of additives and compounding techniques, testing and quality control of plastics with case studies. It also aims to up-grade the skill and knowledge of participants in the area of plastic processing technology which includes injection molding, extrusion, blow molding, roto-molding, thermo forming and other advanced processing techniques.

Also as an objective, the course will impart basic knowledge on plastic recycling and waste management options with appropriate case studies.

The course, which will be presented in English language, will cover basics plastics engineering and technology as well as appropriate, materials and their applications, selection of materials for specific end-use, process selection criteria, plastic processing technology, testing and quality control, additives and compounding of plastics, recycling and waste management.

The course will be addressed by two lecturers from the Central Institute of Plastics Engineering and Technology (India) CIPET, namely Dr. Abdul Kader Mohamed Mustafa, who is working as a chief manager in CIPET having vast experience for 15 years in the polymer field, and Mr. Navaneethan Murugaiyan, who is working as a PDI coordinator in CIPET having a vast experience for 21 years in the plastic field. 
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In Its 80th Ordinary Session
GOIC's Council Follows Developments of Current and Future Industries Map

The Council of the Gulf Organization for Industrial Consulting (GOIC) will convene its 80th ordinary session at 9:30 tomorrow Tuesday 15th June 2010 at GOIC's headquarters in Doha.

The meeting will be attended by their excellencies members of GOIC's Council, together with Her Excellency Dr. Lulwa bint Abdulla Al-Misned, Acting Secretary General of GOIC.

The meeting will also be attended for the first time by HE Dr. Tawfik Fawzan Al-Rabei'a, Saudi Undersecretary of the Ministry of Industry for Industrial Affairs.

The meeting will discuss several issues on its agenda including the latest developments on the project of Gulf Current and Future Industries Map which aims at recognizing absent industries that contributes to completion of production series. The project will further strengthen work environment for the private sector, provide opportunities for GCC industrial integration and coordination, and promote expansion in intermediary and final industries in order to achieve entanglements of industrial basic industries.

The Council will also review reports on GOIC's investment options, and approve the recommendations of the 2nd meeting of the executive committee of 2010.

It is scheduled that the Council will honor its previous heads of sessions: Their Excellencies Engineer Saad Rashid Mohammed Al-Mahannadi (Qatar), Engineer Ahmed Hasan AL-Theeb (Oman), and Dr. Khalid bin Mohammed Al-Sulaiman (Saudi Arabia), in addition to the current head of session Dr. Ali bin Fahd Al-Madhaf (Kuwait).

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Al-Ageel: A New Secretary-General For GOIC
02 August 2010

HE Mr. Abdulaziz bin Hamad Al-Ageel was appointed as the Secretary General of the Gulf Organization for Industrial Consulting (GOIC), based in Doha, Qatar, succeeding HE Dr. Lulua bint Abdullah Al-Misned, Acting Secretary General, as of 1st August 2010.

HE Mr. Abdulaziz Al-Ageel took office and assumed the responsibilities of his new post this morning in the presence of HE Dr. Al-Misned and HE Engineer Khalid Bin Abdul Rahman Al-Fahd, Assistant Undersecretary and Deputy Director General for Development and Industrial Licensing at the General Authority of Industry in Kuwait on behalf of HE Dr. Ali Bin Fahad Al-Medhaf, Director of the General Authority of Industry and Chairman of GOIC for the State of Kuwait in its current session.

Mr. Abdulaziz Al-Ageel is a holder of an MBA from Houston University, Texas, USA. He is a SABIC veteran with a considerable local, regional and international experience in management, marketing and communications. Having worked in Saudi Arabia, the United States and Turkey and traveled around the world, Mr. Al-Ageel has gained various work experiences in both public and the private sectors.

Over the 25 years that Mr. Al-Ageel has served SABIC, he had the opportunity to play a key role in promoting SABIC and its industries. These included overseeing SABIC’s participation at top industrial exhibitions and conferences around the world, managing marketing and PR from SABIC’s Stamford, CT office in US and working as Director of Administration and Services at SABIC Americas, Inc. in Houston, Texas. Recently, he worked as SABIC’s Country Manager in Turkey.

Mr. Al-Ageel has gained a thorough understanding of the Arabian Gulf region’s industrial development requirements, and has developed a cosmopolitan understanding of international and regional relations.
On the other hand, the Ex-Acting secretary of GOIC, Dr. Lulua bint Abdullah Al-Misned, worked at GOIC since July 1998 as an Assistant Secretary-General for Industrial Investment and Promotion, and as an Acting Secretary-General since last year. She is a holder of PhD in economics (evaluation of public policy programs from an economic development perspective) from George Washington University, USA. She participated in several conferences and specialized meetings. She is an author of many books and articles in economics.

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