Non-oil sectors in the GCC states as a driver of sustainable economic growth: necessity and opportunity based on technological platforms development

The possibilities and level of development, as well as the prospects of the nonoil segment of the Persian Gulf states economic systems at the present stage have been analyzed. The purpose of the study is to analyze the formation and strengthening of the non-oil segment in the GCC states as the basis for sustainable development of national and regional economies in the future. The subject of the study is the national economy structure in the GCC and its changes (diversification). Based on the statistical, analytical, and empirical information analysis, it has been shown that now in the GCC the fundamental role of hydrocarbons remains. The GCC energy policy is influenced by institutional, political, and other factors. The GCC is taking significant steps towards a diversification strategy, striving to move from an export-based economic model by reducing the oil segment in the economy to a diversified reproduction structure. Some factors, such as high demand for hydrocarbons, which hinder alternative energy development, have an impact on the non-oil economy development. The GCC state are taking certain steps, mainly at the country level, to build an economy based on non-oil resources. This activity has had some success. However, these successes could have been higher if the GCC states had joined forces to form common technological platforms based on the interstate program (strategy) of innovative cooperation for a decade.

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