IsDB has identified a set of core industries, in which its members offer distinguished competitive advantages. Mining and construction are considered core industries as they are the engines of many of IsDB member countries’ economies. IsDB member countries hold vast mineral reserves. These countries account for 11 percent of global mining production and they sit on 15 percent of global mineral reserves. Most Member Countries have great potential to unlock significant value add for their economies by expanding into processing and manufacturing of minerals. In construction, they can reap the benefits of large employment opportunities from the industry, especially that many of them are rich in construction minerals.
In addition, the general trend of the mining and construction industry is favorable. The industries account for around 15 percent of annual global GDP, contributing approximately USD 13 trillion in total. In 2018, the worldwide construction industry alone provided employment for almost 200 million people.
In the current context of global pandemic, and as IsDB member countries respond to current crisis, they must also prepare their economies for the medium- and long-term scenarios, as the health crisis is likely to, structurally, affect many industries. IsDB member countries must adapt and adjust their industrial policies to be future-ready and maximize benefits from their key industries under rapidly changing technological trends.
The sector insights contained in this Futures Report and its critical view of the challenges, opportunities and potential that lie ahead provide a valuable baseline and starting point for future collaboration.
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