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Economies around the Gulf region have faced a challenging economic environment since the second half of 2014, but a more optimistic outlook for international oil prices in 2017 has offered some welcome relief. The process of fiscal reform that the oil price decline precipitated is, however, set to continue. The restructuring of Abu Dhabi’s public finances has taken into account the federal government’s decision to reduce subsides, as well as the introduction of new fees and taxes by the emirate, and their affects have been felt by nationals and expatriates alike. In the meantime, Abu Dhabi’s ambitious plans to broaden the range of economic activity in the emirate have been granted greater clarity with the publication of the latest iteration of its development strategy in 2016. This chapter contains interviews with Ali Majed Al Mansoori, Chairman, Abu Dhabi Department of Economic Development; Khaldoon Khalifa Al Mubarak, CEO, Mubadala Investment Company; and Liam Fox, UK Secretary of State for International Trade.

This chapter examines Sri Lanka’s legal framework, focusing on reforms in several areas, changes in capital gains tax and employment law, updated legislation on zoning and land use issues and other key areas. It also features a viewpoint from John Wilson, Managing Proprietor, John Wilson Partners.

This chapter examines Sri Lanka’s tax regime, focusing on business-friendly benefits for 2017, incentives for tourism operators, digitisation of VAT mechanism and other key areas. It also features a viewpoint from Sujeewa Mudalige, Managing Partner, PwC.

The administration of President Maithripala Sirisena has planned a series of reforms that it hopes will better equip Sri Lankans for the more competitive economic activities of the future. It aims not only to increase the number of years spent in school, but also to raise the standards of teaching, and emphasise a curriculum of critical thinking and problem solving. Sri Lanka is also keen to build on its success in public health, with the government also showing a willingness to cooperate with the private sector. Some of the improvements to government hospitals are being undertaken through public-private partnership agreements, while the most recent budget includes plans to establish paying wards within government hospitals in partnership with private operators. This chapter contains an interview with Ananda Jayawardane, Vice-Chancellor, University of Moratuwa.

After years of strong economic growth and population expansion, Sri Lanka’s telecoms and IT sectors face increasing demand for a wider range of services. At the same time, a more tech-savvy populace has increasing expectations of service standards and quality, as technological changes reach greater numbers of people. With a dedicated government ministry ensuring that the activities of the country’s ICT institutions under its purview are aligned with national objectives and connecting research and development with industry requirements, the country is on the right path in having a good pair of hands at the ICT helm. This is underscored by the digital economy’s growth, which is in turn enabled by Sri Lanka’s excellent access to undersea cables and a new cable system that is significantly speeding up the country’s connectivity. This chapter contains interviews with Dileepa Wijesundera, Group CEO, Sri Lanka Telecom; and Madu Ratnayake, Executive Vice-President and General Manager, VirtusaPolaris.