Federation of Contractor from OIC Countries (FCIC) Discusses Enhancing Collaboration to Boost Economic Recovery
Jeddah, Kingdom of Saudi Arabia, 11 May 2023 - The Federation of Contractors from Islamic Countries (FOCIC) has held a successful General Assembly meeting on the sidelines of the ongoing 2023 Islamic Development Bank (IsDB) Group Annual Meetings in Jeddah, Kingdom of Saudi Arabia.
The FOCIC was re-established in 2022 to support and advance the construction industry across 57 member countries of Islamic Development Bank Group. The Federation aims to play a significant role in national and regional development.
FOCIC Chairman, Engineer Zakria Al-Abdelgadir, who also heads the Saudi Contractor Authority, reported significant progress made in preparing the FOCIC's rules and procedures and establishing the federation's headquarters in Riyadh, Kingdom of Saudi Arabia.
IsDB, as per the MoU signed in 2020 with FOCIC, remains committed to supporting the FOCIC in undertaking research, enhancing technical expertise and creating employment opportunities in construction industries in member countries. The Islamic Development Bank also encourages joint ventures of companies in member countries to participate in business opportunities provided for IsDB-financed projects.
During the meeting, IsDB made a presentation on procurement guidelines as well as business opportunities created through IsDB projects. All these opportunities are published online. IsDB project procurement opportunities are mostly limited to contractors from the Bank’s member countries.
FOCIC aims to guide contractors in member countries towards professionalization and building technical capacity of construction industry. Working together, the construction industry can contribute to realizing economic growth and development in Islamic countries.
The General Assembly of FOCIC discussed avenues for building partnerships, collaboration, and enhancing knowledge sharing and communication, increasing membership, and tapping into global business opportunities. Joint ventures with other contractors, both from MCs and non-MCs.
FOCIC’s vision is for the common benefit of developing a strong construction industry in member countries. Overall, FOCIC is on the right path to achieving its mission and objective. FOCIC's efforts to enhance the construction industry will go a logway to realize significant impact on the economies of member countries and promote sustainable development.