A major free trade zone (FTZ) in Ras Al Khaimah (RAK) is looking to build on recent growth and expand its base to include new areas of business from an increasingly broad range of countries.
The Middle East Industry
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Dubai’s economy is expected to post solid growth in 2012, with the emirate’s manufacturing industry tipped to be one of the key contributors. The rate of growth, however, will likely depend on how international markets withstand the fallout from the European debt crisis and other destabilising factors.
Articles & Analysis | Solidifying the base: Creating a suitable environment for expansion and diversification from The Report: Kuwait 2012
Not far from Kuwait International Airport, signs of the nation’s growing industrial infrastructure are sprouting up; just a short drive along the coastal road are the gantries and tanks of the Shuaiba refinery, one of the three refineries in Kuwait and just part of the vast network of facilities that underpin the nation’s oil and gas industry. Not...
Articles & Analysis | A future in petrochemicals: Pursuing growth at home and abroad from The Report: Kuwait 2012
The establishment of Boubyan Petrochemical Company in 1995 ended the government’s monopoly of the petrochemicals industry, but the activities of the state-owned Petroleum Industries Company (PIC) – often in partnership with private entities – continues to define the development of the sector. As a subsidiary of the Kuwait Petroleum Corporation (KPC...
While the contribution of oil to the economy has fallen in recent years, due in part to the global downturn, hydrocarbons still make up nearly half of Kuwait’s GDP and provide the government with around 95% of its annual revenue. Indeed, under the New Development Plan, launched in 2010, oil production is set to rise. However, like all Gulf economies, Kuwait has adopted a long-term strategy of...
Nestled between Iraq and Saudi Arabia in the northwest corner of the Gulf, Kuwait has been a leader of Arab democracy and one of the most liberal nations within the GCC since the country gained independence in 1961. Economically, the country also has a bright future, with strong public finances, a young and well-educated population and vast oil deposits.