Oliver Cornock: ALL BLOG POSTS
Bahrain has continued to offset the effects of the drop in oil prices with a host of measures, including moves towards subsidy reduction. A series of big-ticket projects are under way in a number of sectors and the government is pushing ahead with its all-important diversification initiatives, with a $32bn investment strategy fuelling activity across a variety of areas of the economy. Ongoing investment in the energy sector is expected to help boost the economy in coming years, particularly in terms of enhancing refining and providing a reliable supply of fuel for heavy industry.
Leveraging its strategic location, Oman has invested in infrastructure with the goal of becoming a global logistics centre. While the country is less hydrocarbons-rich than its GCC neighbours, diversification efforts are a driving force behind its economic growth. The sultanate’s long-term development strategy, Oman Vision 2020, emphasises industrialisation, privatisation and Omanisation, and resulted in a real GDP growth rate of 3.3% in 2015. At the same time, foreign direct investment inflows have risen from $739m in 2014 to an estimated $822m in 2015.